Oregon State receives anonymous $50M donation for Reser Stadium renovation project
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CORVALLIS, Oregon (KPTV) — A $50 million donation from an anonymous donor will help Oregon State University transform Reser Stadium into a “national best-in-class” football facility, the university announced Thursday.
The $153 million renovation project was approved by the OSU Board of Trustees Finance and Administration Committee on Jan. 28 to enter into the design phase. Final approval will be considered at a meeting in May.
A $50 million donation from an anonymous donor will help Oregon State University transform Reser Stadium into a “national best-in-class” football facility, the university announced Thursday.
The $153 million renovation project was approved by the OSU Board of Trustees Finance and Administration Committee on Jan. 28 to enter into the design phase. Final approval will be considered at a meeting in May.
According to the university, the project involves the “complete demolition and rebuilding of the west side of Reser Stadium and the construction of year-round university facilities, including a new state-of-the art interactive welcome center for new students considering attending OSU; new health center facilities for Corvallis campus students; health care facilities for OSU faculty and staff; and additional meeting space for university students, faculty and staff.”
Funding for the project will be through “philanthropy, premium seating revenue, space lease revenues and other revenues from the stadium and new facilities,” according to the university.
In addition to the $50 million donation, the university says it also received a separate anonymous gift of $10.5 million.
The project has an overall fundraising goal of $85 million. So far, $64.5 million has been raised.
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