ATLANTA (AJC/ WAOK) –Georgia State University plans to buy the Atlanta Life Financial Group building. The decision could help revitalization efforts for the endangered Sweet Auburn Historic District as well as allow the university to expand its presence in the city.

GSU is planning to purchase the building at 100 Auburn Avenue and at 60 Piedmont Avenue for a total of $10.24 million.

The Atlanta Life Insurance Company was founded over a century ago by a former slave and has played a major role in Atlanta’s African-American business realm.

The University plans to house its Honors College, admissions office, and welcome center on the Atlanta Life site. The Piedmont site will host the university’s housing office.

President Mark P. Becker said that facility expansion is necessary as the student body and programs have significantly grown.

This week the National Trust for Historic Preservation added Sweet Auburn Historic District to its endangered historic sites list.

Executive Vice President of the trust, David J. Brown, said he would like to see Georgia State University use historic buildings for its facilities as the Savannah College of Art and Design has done.

Georgia State plans to close the deal by the end of the summer.