The Knoll, a 110-year-old-residence-building designated for the president of Iowa State University, is undergoing $375,000 worth of upgrades to modernize the building, BusinessWeek reports.

"The Iowa Board of Regents ... approved spending $375,000 in private donations to repair and modernize the Knoll, which has housed 10 school presidents and serves as a site for public events and meetings with university donors. The project will include spending roughly $90,000 to purchase and install wool carpet on the home's first floor where many formal functions are held, on top of extensive exterior work including painting, installing new gutters and replacing 50-year-old windows with new, energy-efficient ones."

Modernizing the old building with replacement windows will save the university money on utility bills and increase energy efficiency. The Knoll is a symbolic building at the ISU campus and faculty believes it's critical for the building to be kept up. Replacement windows will contribute to energy savings for the entire campus if additional buildings upgrade to new energy efficient replacement windows.

Photo Credit: Iowa State University Alumni Association