Purdue News
Purdue News
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May 18, 2001 Trustees authorize $70 million financing for Ross-Ade renovationWESTVILLE, Ind. – The Purdue University Board of Trustees today (Friday, 5/18) authorized the sale of as much as $70 million in bonds to finance the first phase of the Ross-Ade Stadium renovation project.
The board also approved spending more than $13.4 million for other projects, including more than $7.2 million for phase two of the Cary Quadrangle renovation project. Phase one of the Ross-Ade Stadium renovation project entails extensive concrete repairs; enlarging the concourse areas; and adding rest rooms, concession areas and additional handicap seating. Other work will replace the press box and add private suites and club seating on the stadium's west side. The Ross-Ade financing resolution allows bonds to be issued as early as November, depending on market conditions, said Kenneth Burns, executive vice president and treasurer. Total project costs currently are estimated at $60 million to $65 million. The Ross-Ade Foundation, which owns the stadium, will be responsible for repaying the bonds. The debt will be retired primarily through revenue from the licensing of premium seating and suites. Work began Feb. 12 on the relocation of Beering Drive on the west side of the stadium. A similar relocation of North University Drive on the east side of Ross-Ade will take place in 2002. Completion of phase one is scheduled for fall 2003. HNTB Sports Architecture of Kansas City, Mo., is the project architect. The master plan for renovation also includes two other phases, which will add upper deck seating on the east and north sides of the stadium, estimated to cost an additional $50 million. The 77-year-old stadium has a seating capacity of 67,332. Once complete, seating will increase to about 80,000. Demand for additional seating will determine when that work can be initiated. Trustees also awarded the contract for the second phase of the Cary Quadrangle renovation project to Kettlehut Construction Inc. of Lafayette, which submitted the lowest bid, $6.3 million. Thomas Schmenk, university architect, said this phase of the project will focus on the quad's northeast section, upgrading interiors to enlarge double-occupancy rooms. Each room will feature a semiprivate bath, air conditioning and multiple computer and appliance outlets. Work in this phase also includes renovation of the commercial kitchen and dining room for the intercollegiate athletics program. The project is part of a six-phase, six-year plan to renovate Cary, a five-building complex built in 1928. Purdue's University Residences, which is self-supporting, will spend $43.5 million to meet student space, amenity and convenience needs, Schmenk said. The renovation will not involve tax dollars or general student fees. The first phase, scheduled for completion in July, will enlarge Cary East's double-occupancy rooms, adding air conditioning and semiprivate baths. Cary Quad will house up to 1,255 students after the remodeling. Following renovation work, Cary will be fully accessible to students with disabilities, Schmenk said. In other business, the trustees approved the fifth phase of the Lilly Hall renovation project, part of the ongoing update of the 45-year-old facility. This phase consists of renovating spaces on the third floor to provide modern library operations, offices, work areas and group study areas. Schmenk said 2,800 square feet will become available to provide additional space for growth of the library programs on the third floor. The project budget is $2.5 million and will come from the 1999 -2001 state appropriations for repair and rehabilitation. The trustees also moved forward to begin planning construction and improvements for the Martell Forest Research and Education Center, a project estimated to cost $3.7 million. Schmidt Associates Inc. of Indianapolis will provide architectural and engineering services to build a research laboratory, two-bay greenhouse, conference facility, office space for 10 scientists and professional staff, and equipment. Schmenk said that while no timetable for the project has been established, work could begin in the spring of 2002. The center conducts tree research and gives students a facility in which to analyze materials collected in laboratory field exercises. The project is funded through the John S. Wright Quasi Endowment. The trustees also authorized Superior Engineering of Hammond, Ind., to extend campus utilities for the $16 million University Advancement Office building, which was approved last month. The utility work will cost an estimated $1.3 million and is included in the overall project budget. The advancement building project will be paid for through gift funds and the Purdue Research Foundation. Sources: Kenneth Burns, (765) 494-9705; kpburns@purdue.edu Tom Schmenk, (765) 494-4803; trschmenk@purdue.edu Writer: Grant Flora, (765) 497-4491, gflora@purdue.edu Purdue News Service: (765) 494-2096; purduenews@purdue.edu PHOTO CAPTION:
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