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A $75 million donation to the University of St. Thomas in Minnesota will help fund the construction of a new multiuse arena, the university announced Tuesday, calling it “the single largest monetary gift ever given to a Minnesota university.”
The gift comes from long-standing benefactors Lee and Penny Anderson, whom St. Thomas credits for aiding its transformation from a small Catholic liberal arts college into the state’s largest private institution.
The gift is designed to kick off fundraising efforts for the venue—projected to cost about $175 million—which will house the men’s and women’s hockey and basketball teams, as well as accommodate big campus events such as commencement. St. Thomas athletics recently shifted from NCAA Division III competition to Division I, MPR News reported.
“This is about more than just hockey and basketball games—this is a gift that will be transformative for our entire St. Paul campus, enhance the experience of our students, and raise visibility for the university as a whole,” President Rob Vischer said in the news release. “It also creates a new community and economic asset for the Twin Cities, the state of Minnesota, and the region.”
St. Thomas aims to break ground on the new arena in 2024, with a planned opening in fall 2025.
