Read the original story here in the Portland Business Journal.
Portland State University plans to more than double the physical size of its School of Business Administration thanks largely to an $8 million anonymous gift from an alum.
The project will add 42,000 square feet of new construction and renovations to the school's existing 52,000 square feet.
The university's Graduate School of Education will also vacate space in the School of Business Administration's building, freeing up an additional 53,000 square feet.
The project means business students will no longer be scattered around campus. Roughly 50 percent of business classes meet in space outside of the School of Business Administration building.
The renovations will include the addition of numerous meeting rooms in order to increase collaboration between students and faculty. It will also transform a building that looks like the Chernobyl sarcophagus into an inviting and light-filled space.
"Portland is a vibrant region with world class companies and a high quality of life," said Scott Dawson, dean of the business school. "To achieve that, you've gotta have a great business school. Great business schools attract great students. Most of those students are going to stay here. Those are the people who are going to start companies."
The project will cost $60 million, including $40 million in state funding and $20 million in philanthropic gifts.
The state funding will likely be approved by this year's Legislature.
Portland State still needs to raise an additional $7.2 million in philanthropic gifts. It expects to finish fundraising in August.
The $8 million naming gift comes from an anonymous donor whose name could eventually grace the building.
The project is slated for groundbreaking in January 2015. Construction should be finished in the fall of 2016.
Read Friday's print edition of the Business Journal for details about the project.