Is this sentence right?
It is said that a high-quality university is on the way . ( I am try ing to express a university will be build soon)

Question

Is this sentence right?
It is said that a high-quality university is on the way .   ( I am try ing to express a university will be build soon)

Answer

You could say that the university is under construction. The university is being built.

Answer

'It is said'.... we wouldn't use that construction here.  
We would say, if it is a fact: A high-quality university is on the way/ about to be constructed. 
If it is merely unconfirmed hearsay: There are rumours that a high-quality university is going to be built (inn this city) in the near future.