Ottawa entrepreneur Wesley Nicol, and his wife Mary, donated $10-million to the Carleton University Sprott School of Business today.

The funds will be used to build a new facility to house the business school.

Nicol graduated with a BA from Carleton in 1954. He went on to law school and is the founder of Ottawa's Tartan Homes.

The new building will be located on the Carleton campus, exactly when and where it will be built is still to be determined. The university says it needs to raise another $40-million to complete the project.