Move Forward With Construction Of Arena And Special Events Center
April 3, 2003--
The University of Virginia announced today that it has reached
the $75 million mark in fund raising for its new arena and special
events center, allowing construction of the project to begin in
late spring. To cost an estimated $130 million, the facility will
provide a new home court for the U.Va. men’s and women’s
basketball programs when completed in late summer 2006.
University can move forward with construction thanks to two new
gifts from longtime benefactors of the institution. Paul Tudor Jones
II of Greenwich, Conn., whose $20 million pledge in 2001 helped
launch the arena initiative, has made a new commitment of $10 million.
In addition, William H. Goodwin Jr. of Richmond, a member of the
University’s Board of Visitors, has committed $5 million to
advance the project.
extraordinary gifts, combined with the other commitments we’ve
received, give us the foundation of support necessary to begin work
on the facility and to meet the schedule for construction we set
two years ago,” said University President John T. Casteen
III. “The remarkable generosity of Paul Jones and Bill Goodwin
exemplifies their uncommon devotion to elevating both our academic
and athletics programs for the lasting benefit of the University
and the community.”
Architects of Charlottesville is working with Ellerbe Becket of
Kansas City, Mo., on the design of the arena and special events
center. The firm Barton Malow will serve as construction manager.
The facility will be built on Massie Road across from University
Hall, U.Va’s current basketball venue. Largely unchanged since
it was completed in 1965, U-Hall holds fewer than 8,400 seats and
is the smallest basketball arena in the Atlantic Coast Conference.
new arena will hold 15,000 spectators and will increase the quality,
as well as the quantity, of seating at Virginia basketball games.
Forming a U-shaped bowl, the seating configuration will offer better
sight lines and will move fans closer to the court. The building
also will provide improved facilities for players, including men’s
and women’s locker rooms, a weight room and a training room.
Separate practice courts will enable the men’s and women’s
teams to practice simultaneously and while the arena is in use for
a result of the generous support this project has received, we will
strengthen not only men’s and women’s basketball but
all sports at Virginia,” said U.Va. Athletics Director Craig
Littlepage. The revenue generated by basketball, he noted, benefits
each of the University’s 25 varsity athletics programs.
also stressed that the building will be more than a sports complex.
Its design affords ready adaptation into a site for concerts and
other cultural events, convocations, high school graduations and
other community gatherings. University Hall, which has never been
air-conditioned, has long been inadequate as a setting for concerts,
lectures and conventions.
new gifts will help us to create an attractive and convenient place
where we can bring the community together,” said Littlepage.
“Paul Jones, Bill Goodwin and the other donors who have joined
this effort are providing an invaluable asset to our students, our
faculty, the University and citizens of this region.”
Tudor Jones II, who earned a bachelor’s degree in economics
at the University in 1976, is chairman of the Tudor Group, a money
management firm he founded in the 1980s. Over the past 15 years,
he has given to many areas of the University, including the Jefferson
Scholars Program, the Darden Graduate School of Business Administration
and the McIntire School of Commerce. A champion of efforts to protect
the world’s environment, he provided U.Va. a $10 million challenge
gift for the construction of a new environmental sciences research
also has been a strong advocate for the University’s new arena.
Chairman of the volunteer committee that guides the project, he
provided funding for initial planning and design of the facility.
His $20 million gift in 2001, along with another $20 million given
by an anonymous donor, set the pace of fund raising for the building,
which will be constructed entirely with non-state revenues. The
project has attracted a number of other major gifts this past year,
including $1 million commitments from alumni Robert V. Hatcher Jr.,
of Richmond, Anthony F. Markel of Manakin Sabot and Paul H. Saunders
of Christiansted, Virgin Islands.
of the Board of Visitors since 1996, Goodwin is chairman of CCA
Industries Inc., whose holdings include the Jefferson Hotel in Richmond,
Kiawah Island Resort in South Carolina, Pompanette Inc. and Bag
Boy Company. Like Jones, he has supported many areas of the University.
He and his wife, Alice, have given more than $25 million to the
Darden Graduate School of Business Administration, where he received
his MBA degree in 1966. More recently the Goodwins have committed
nearly $10 million to advancing innovative cancer treatments at
the University, including an effort to develop anti-cancer vaccines.
Carol Wood, (434) 924-1400