The cost of the new hall is being funded through a $50 million gift made in 2000 by Schulze and his late wife, Sandra. Schulze Hall, like the first three St. Thomas buildings in Minneapolis, was designed by Opus Architects & Engineers. The contractor for all four buildings is Opus Northwest Construction Corp. Both are units of the Opus Group, the commercial real estate firm based in Minnetonka, MN.

The new building, situated between St. Thomas' Terrence Murphy Hall and School of Law building is expected to open in September 2005. It will be located at 11th Street and Harmon Place.

The Schulze School of Entrepreneurship, which will be part of the St. Thomas College of Business, will bring together in one place the university's graduate and undergraduate degree programs in entrepreneurship as well as its centers and institutes that provide entrepreneurship-related educational programs and services to the public.