WACO (July 19, 2013)--The Baylor University Board of Regents approved two new projects totaling nearly $120 million in campus improvements.
Proposed is an alumni event center at Baylor Stadium and a Paul L. Foster Campus for Business and Innovation which would be the new home for Hankamer School of Business.
The board approved expenditures of up to $2.5 million for the alumni event center, to include site preparation, a feasibility study and architectural renderings, a spokesperson said.
The center is expected to come with a total price tag of $17 million.
Preliminary plans for the 40,000-square-foot multi-story glass building would providing meeting space and a probable lounge on the south side of the stadium plaza.
University officials say the event center was originally part of the plan, but was later cut due to the overall cost of construction at the new stadium.
“Now, with the great momentum we’re experiencing as Baylor Nation responds to stadium fundraising, seat options and even stadium bricks, we have a renewed sense of optimism and confidence that we can raise the support necessary to fund construction of a new event center for Baylor alumni,” University Development and Strategic Initiatives Senior Vice President Ken Hall said.
Regents also approved $2 million to continue with design of the $100 million, 275,000 square foot Foster Campus for Business and Innovation after receiving a “historic gift” from Paul L. Foster of El Paso.
Ground could be broken on that facility as early as December and will be located across from the new East Village Residential Community on Bagby Avenue.
The new building is expected to expand the school’s size by nearly 40 percent, a university spokesperson said.