The Penn State Board of Trustees Committee on Finance, Business and Capital Planning has approved the $70 million first phase of the proposed Beaver Stadium renovation project, the university announced Thursday.
“After years of studies and careful analysis, I’m happy that these much-needed renovations to Beaver Stadium are about to get underway, I am committed to continuing to grow our Intercollegiate Athletics program and to keeping Penn State competitive on the national stage. We have one of only a handful of self-sustaining intercollegiate athletics departments in the country, which means that this project can move forward, distinctly, without using the University’s overall budget, tuition dollars, student fees or the critical resources available in support of our educational and research missions.”
The project, which officials say would be completed in four years time and cost roughly $700 million total, would allow the stadium to be used for more than just football games.
University officials added that the project would be paid for, in full, by the Penn State Athletics Department.
“On behalf of the Board of Trustees, I’m thrilled to support the University and Intercollegiate Athletics in this renovation project, which will benefit all of our student-athletes and ultimately grow the role Beaver Stadium plays in supporting the local and state economies all in a fiscally responsible manner that is completely separate from the University’s academic budget Beaver Stadium is a national icon, and parts of the facility are more than 85 years old. This is the right time and the right approach for needed improvements and modernization.”
The proposed plan will reportedly focus on the west side of the stadium, where most of the stadium’s infrastructure and utilities are located, to improve access for broadcasting, circulation, new restrooms, upgraded concession offerings and premium seating.
Officials say the full board of trustees will vote on the project’s approval on Friday.