Assets School expects to begin construction in about two years on a permanent campus that will replace portable buildings on its existing school grounds near Hono­lulu Airport.

The private school is buying the 3.5 acres of Navy land it has occupied for more than 20 years. Prior to the sale, the school said it could not construct permanent buildings.

Assets School specializes in intensive academic remediation and acceleration for gifted, dyslexic and gifted-dyslexic children. It has about 340 students in grades kindergarten through 12.

Honolulu architecture firm Group 70 has designed the new campus into four major areas: a K-8 campus, administration buildings and library, visual and performing arts, and a high school.

Head of School Paul Singer said in a statement that Group 70 "has created preliminary design ideas that are exciting, aesthetically pleasing, pragmatic and futuristic."

The school estimates the build-out will cost between $20 million and $22 million which mostly will come from fundraising.

Construction is scheduled to begin in June 2015 and be completed in mid-2017. The campus will be built in phases and remain open during construction.

"Assets provides a learning environment for youngsters who faltered in typical, mainstream settings and need an alternative approach," Russell Lau, who serves on the school’s board, said in a statement. "This new campus will allow us to provide our exceptional students a richer campus experience that matches our dynamic curriculum."