The announcement was made by Economy Minister Edwina Hart who has also agreed the University can have an option to buy an additional nine development plots on SA1, totalling 11.34 acres.
The newly merged institution has considered a number of options to consolidate its estate in Swansea and require a new, purpose built central campus within the city.
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With its close proximity to the city centre, the SA1 development has been identified by UWTSD as the ideal location to develop a new campus providing modern education and research facilities and recreational opportunities for students.
The University is also keen to work closely with businesses and develop links with the private sector through a range of initiatives from applied research through to incubation units and spin off business enterprises.
Minister Edwina Hart said: "The vision for SA1 Swansea Waterfront has always been to create a dynamic new quarter – a real community with a range of local services and facilities and a place where people work and live.
"Plans for this new campus will contribute to the overall mixed use nature of this major regeneration scheme and should add vibrancy to the overall development. It will provide the University with the opportunity to develop modern purpose designed teaching facilities for students and staff and enable it to develop closer links with local businesses for the benefit of the economy."
(CD/JP)
