About £300m is to be spent revamping Teesside University.
The first phase of the 10-year project at the Middlesbrough site will include a new £6m business school, as well as new student accommodation.
The money will also be spent upgrading the university's Darlington campus where a £22.3m biomedical research and education centre will be built.
Vice-Chancellor Paul Croney said the aim was to become one of the best universities in the country.
"We are committed to investing in our estate to further enhance the experiences of our students and the communities we serve," he added.