Wollongong City Council donated the 15-hectare parcel of land in 2001 where the Nan Tien Institute now stands.
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Design firm Woods Bagot used the Buddhist symbol of the lotus flower as the starting point for the design of the building.
Covering 6000 square metres, the design includes four distinct pods which are linked by internal bridges
The $50million first stage of the campus incorporates teaching and community facilities, a museum and art gallery, library, cafe, gift shop and lecture theatres.
Woods Bagot is also working on a $20million pedestrian bridge and plaza over the Princes Motorway which will link the Nan Tien Temple on the eastern side of the freeway to the new building.
A ‘‘Nan Tien Bridge’’ purification ceremony took place during Sunday’s celebrations.
The Nan Tien Institute is described as Australia’s first higher education institution established within the Buddhist tradition.
It will initially offer programs open to anyone in the fields of Buddhist studies, health and wellbeing and academic and business English language tuition.
Nan Tien Institute’s tertiary campus aims to cater for 3000 students when a second stage is completed and will expand to include courses such as a business degree, Masters of Business Leadership and Doctor of Philosophy.
Nan Tien Institute is part of an international university consortium with three sister universities in Taiwan and USA, and memorandums of understanding with Australian and international universities.