October 9, 2015 Earlier today, the University of Minnesota Board of Regents approved Gopher Athletics’ plan to construct three new buildings and renovate several others to create a new Athletes Village on its existing Dinkytown footprint.
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The athletics department has raised $76.5 million to date, and the rest, $89.5 million, will be borrowed through long-term debt to be repaid by Gophers athletics.
The unanimous decision came a day after the regents’ facilities committee approved the schematic design and financing for the football and basketball practice and academic complex.
The U since has committed to building a competition-level track somewhere on the U’s East Bank campus.
Today’s approval of the Athletes Village plan means the project can now officially move into its construction phase. “We’ll be meeting shortly to figure out the details”, she said.
The project has been delayed for months over concerns about costs – the initial price tag was $190 million – and that it could violate gender-equity laws.
“I think this is necessary to be competitive”, Rosha said.
The U typically secures 80 percent of a project’s funding before breaking ground, but Kaler said fundraising for Athletes Village actually is outpacing fundraising efforts for TCF Bank Stadium, which opened in 2009.
Project officials want to provide state-of-the-art tools to student athletes, administrators and coaches. The new village will include two new buildings for football and one for men’s and women’s basketball.
The complex, which will be funded by donors and the athletics department, will feature state-of-the art facilities for Gophers football and basketball. When courting high school players, Kill said, a program’s practice facility and amenities are the first topic of conversation.
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“The cornerstone of the project is the new, 60,000-square-foot Land O’Lakes Center for Excellence, which will house a new academic center, nutrition center and leadership center”.
