A schematic design for a new lounge in Knowles Hall. Contributed University of Montana Housing is laying the groundwork for about $12 million in renovations and maintenance updates in Knowles Hall starting this summer. The University was able to refinance debt and raise some bond money to modernize campus housing. Now, UM Housing plans to use these funds to improve the landscaping, electrical system and interiors of the 58-year-old residence hall. âI think what this project will be able to do for us is to take a 1963 building and actually turn it into a building that students want to live in in 2022,â Sandra Curtis, executive director of UM Housing, said.