The Future of USF: Stadium Project Officially Greenlit

In a landmark decision highlighted by outgoing president Rhea Law, the University of South Florida’s Board of Trustees approved a stunning $407 million for the construction of a new on-campus stadium, along with essential infrastructure upgrades.

What’s Next for USF?

This greenlight allows construction to kick off, with exciting plans for the stadium to be ready for the 2027 season opener against Louisville.

A Transformative Moment

“It’s a transformative moment for our university,” said Will Weatherford, chairman of the Board of Trustees, during a brief virtual meeting.

Major Investments

Weatherford expressed how significant this investment is for USF: “This is about as big of a check as we’re ever going to write for anything at the University of South Florida.” He emphasized the importance of careful planning, ensuring they accounted for various contingencies during the project.

Breaking Down the Costs

The total budget breakdown is approximately $348.5 million for the stadium itself and an additional $47.9 million earmarked for East Campus Infrastructure improvements. This fund also covers utilities, roadways, green spaces, and security.

Only $8.5 million above the estimated cost from June 2023, this budget includes enhancements such as potential future capacity expansion and improved locker-room facilities.

Strategic Funding

Funding sources for this ambitious project include $200 million in financing—safely invested in a mix of money market accounts and treasury notes—along with $140 million from various equity contributions including capital gifts and license sales.

“We can’t predict everything,” noted Jay Stroman, CEO of the USF Foundation, “but we have contingencies to manage unforeseen costs.”

When Will It Be Ready?

Athletic director Michael Kelly projected that final inspections and substantial project completion will occur by April or early May 2027, ensuring that athletes and staff have a full summer to prepare for the season opener.

Site preparation has already commenced on the eastern edge of the campus and is being managed by Manhattan Construction.

An Exciting Milestone

Law remarked, “This plan represents a significant milestone for developing a premier stadium that will serve the USF community for years to come.”

She expressed enthusiasm about bringing thousands of fans to the campus and building lasting connections to USF.

Conclusion

This monumental project not only signifies an investment in sports but also lays the groundwork for a vibrant future at USF, promising a space where memories will be made and community ties will be strengthened.

FAQs

What is the expected completion date for the stadium?

The stadium is expected to be completed by April or early May 2027.

How much is being spent on the stadium project?

The total budget for the project is $407 million, which includes both stadium construction and infrastructure improvements.

Who is managing the construction project?

Manhattan Construction is one of the firms responsible for managing the construction of the stadium.

Contact Joey Knight at jknight@tampabay.com. Follow @TBTimes_Bulls.

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