SBJ/April 26 - May 2, 2004/Facilities
Beavers take aim at $80M stadium expansion with vow for all-private funding
Published April 26, 2004
Oregon State University breaks ground Saturday on an $80 million expansion of Reser Stadium in Corvallis that will ultimately be all privately funded through seat license fees and other capital gifts, Athletic Director Bob DeCarolis said.
DeCarolis said the school is close to raising the first $30 million of the project cost through two primary sources: the one-time sale of stadium investment fees on all tickets sold and preferred ticket donations collected on an annual basis that now include 8,000 new premium seats on the home team’s sideline.
Students attending the school are also contributing to the project by paying a $15 yearly fee in addition to the $75 annual fee they normally pay to attend all sporting events at Oregon State, he said.
The state of Oregon is funding the balance of the project through a $50 million bond issue, which the school will repay over 30 years through the sideline seat donor program, according to DeCarolis.
The fund-raising campaign, called Raising Reser, started in November 2002 by collecting the stadium investment fees, ranging from $100 a seat for season-ticket holders to $300 a seat for new seats on the building’s east side.
The preferred ticket donations for the new seats will range from $200 a seat to $3,000 for the loges and suites, which will be between the 20-yard lines. All the new seats will have chair backs.
The new premium area comprises 22 luxury suites, 200 Founder Loge seats and 3,600 club seats. Those patrons will have access to two exclusive restaurants.
The first phase of what could be a three-phase project will increase the Pac-10 Conference’s smallest stadium from 35,362 seats to about 43,000.
HNTB is designing the improvements. The initial construction is scheduled to be completed for the 2005 season. DeCarolis said 10,000 seats will be demolished and temporary bleachers installed near construction areas for the 2004 season.
Future phases have plans for total seating of 55,000, a new scoreboard and video capabilities and a 25,000-square-foot weight room on the floor of one end zone.