Complex sentence: The project is being built around and over an existing parking garage belonging to the adjacent Ryerson University; in exchange for the air rights to build over its land, Ryerson will gain use of the AMC theatres as classrooms during daytime hours.
Split into simpler sentences: The project is being built around and over an existing parking garage belonging to the adjacent Ryerson University. In exchange for the air rights to build over its land, Ryerson will gain use of the AMC theatres as classrooms during daytime hours.