Trustees Authorize Architectural Studies for New Residence Halls and Fundraising for Three Capital Projects
October 3, 2005
University of Richmond’s board of trustees has voted to hire architectural firms to design a new residence hall for students and develop a new master plan for replacing the aging University Forest Apartments on campus.
In addition, the board acted on three capital projects totaling nearly $50 million. The board approved the launching of a fundraising campaign for an addition to the law school building and to accelerate fundraising efforts for both an addition to the business school building and construction of an on-campus multi-purpose stadium.
Many of Richmond’s residence halls, though continuously renovated, are based on the traditional style of double rooms on a hall with a shared bath. The majority of today’s students prefer apartments or suites of rooms sharing an adjoining bath. The renovation of existing buildings would take place over eight years, taking one housing unit out of operation annually.
To accommodate undergraduate students living on campus during the reconfiguration phase, the plan authorized by the board calls for construction of a new, 128-bed residence hall along Lakeview Lane between Wood, Thomas and Marsh halls.
The board also voted to engage an architectural firm to create a master plan for developing new apartments units in a more consolidated fashion than the existing University Forest Apartments. In the long term, university officials foresee the need to replace the current apartments with newer facilities.
More than 92 percent of Richmond’s nearly 3,000 undergraduate students live on campus.
The School of Law expansion would create four new teaching spaces, including a 75-seat, tiered lecture hall, plus numerous new office spaces. Some of the offices could be grouped to create specialty centers focusing on specific legal areas. The expansion would create space for up to 120 additional law students beyond the current enrollment of 475. The project is estimated to cost $10.2 million.
The addition to the Robins School of Business would include a 225-seat auditorium, 15 new teaching spaces, electronic trading floor, behavior lab for marketing and other research, 38 new offices for faculty and staff, boardroom-style conference area and café. The project is estimated to cost $16.8 million.
The First Market Stadium project calls for replacing the existing west stands with a new grandstand that will provide premium seating, sky boxes, media box and other entertainment space. Additional seats would be built on the east side. Total seating will not exceed 9,000. Modern scoreboard, lighting and sound systems would have minimal impact on surrounding neighborhoods. The project is estimated to cost $22.8 million.
The board also granted authority to the university administration to accept an offer, if tendered, from an anonymous prospective donor to the stadium. The donor has offered a lead gift of $5 million, subject to $10 million being committed by alumni and friends and the university’s providing a $5 million match. To secure both the donor’s and the university’s commitments to the stadium project, the athletic department must raise an additional $8.4 million by Dec. 31, 2006.