Student Center Split as an integrated part of the University of Split is engaged in student accommodation, nutrition and mediation in temporary and occasional employment. One of the three student dorms is “Bruno Bušić”, who is also the oldest. It was built in 1978 and is currently in very poor condition, and if it does not rejuvenate, it threatens to close, which is also the main problem of this research. Existing accommodation facilities at the Student dorm do not have the appropriate conditions for satisfying student standards that should be its core function. From all the above mentioned works, it is necessary to reconstruct the student dorm "Bruno Bušić", which, due to his poor condition does not provide satisfying conditions for student life. Accommodation capacities of this type are in a constant deficit and due to this fact the loss of this student dorm is a lost of quality of student standards on the level of Student Center and ultimately on the University of Split. The ultimate goal is to reconstruct the student dorm in an optimal time range to be ready to move the students in at the beginning of the new academic year. This fact would contribute to reducing the costs of studying and increasing the availability of higher education at the University of Split. Cost and benefit analysis quantifies all financial and economic costs and losses on one hand and all expected revenue and benefits from one approach on the other. If we look at the project of building a student dorm in the context of a public project, it may have a low or even negative financial return rate and is still eligible for investment. The reconstruction project of the student dorm “Bruno Bušić” is planned to be implemented through multi-source financing, and the main source of reconstruction funds is planned to be submitted by applying for EU Structural Funds. According to the guidelines for financing EU-funded projects, only financially viable projects can be funded by means of support. By calculating the present value of the investment cash flow it has been proved that the project is not economically viable, but the importance of the project financing has been proven by analyzing socio-economic effects of the project.