Baylor Regents Approve Public Fundraising for New Business School Building
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Board members also approve renovation of South Russell Residence Hall, build-out of BRIC symposium space, greet hundreds of Baylor faculty at reception
WACO, Texas (Feb. 8, 2013) - At its February meeting, the Baylor University Board of Regents approved public fundraising for a new 275,000-square-foot business school building that will expand the school's size and reach by nearly 40 percent.
The architectural design for the new Baylor business school building features a highly corporate and sustainable business environment, including a centerpiece atrium that will showcase some of the school's signature classrooms, such as the Southwest Securities Financial Markets Center. The design also includes a large 350-seat auditorium to accommodate guest lectures and special events, and a variety of classroom spaces that will fully incorporate the latest classroom technology for collaborative learning, innovation and problem solving. Regents heard a report on plans related to the building and viewed the architectural renderings of the potential new facility before approving fundraising. The project cost is estimated at $100 million.
"This has been a truly historic year for Baylor," said Richard Willis, BBA '81, MBA '82, chair of the Baylor Board of Regents. "At levels we have never approached before, we are witnessing record numbers of donors coming forward to provide gifts both large and small to advance some of the most important and exciting projects in University history. In light of the tremendously active role alumni have taken supporting financially the President's Scholarship Initiative and Baylor Stadium, we believe that Baylor Nation, which includes thousands of successful business school graduates, now stands ready to get behind our outstanding school of business to support construction of the building that will propel that program to new heights."
"We are delighted that Baylor Regents have authorized fundraising for this exciting new project," said Terry Maness, DBA, dean of the Hankamer School of Business. "We have so many extraordinarily successful and generous business school alumni with whom we have spoken over the years about a new building for our expanding assortment of top quality and innovative business programs. We are eager to share this good news and to work with them, and with all those who support our distinct mission, to help bring this dream to reality."
In addition to fundraising for a new business school building, Regents approved two projects: a $12 million refurbishment of South Russell Hall beginning this summer - the first of several major renovations of Baylor residence halls - and a $1.75 million build-out at the Baylor Research and Innovation Collaborative (BRIC).
The refurbishment of South Russell will include updating rooms with new furniture and fixtures, creating new study, social and spiritual spaces, adding a living-learning component to the complex with a faculty-in-residence apartment and utilizing the lower level for a classroom, fitness area, game room and lounge. The project will begin this summer and is expected to be completed by fall 2014.
The BRIC build-out will create more than 7,500 square feet of symposium and training space.
Baylor Regents also welcomed to their first regents meeting two new members of the board, Dan Hord III, BBA '89, partner in HEDLOC Investment Co. LLC and Western Property Group of Midland, and Dr. Christopher B. Howard, president of Hampden-Sydney College in Virginia. The new board members spent Wednesday at orientation sessions with Executive Council members before Regents met for their regular two-day business session Thursday and Friday.
On Thursday night, Regents held a special reception to honor Baylor faculty. More than 300 faculty members attended the event in the Barfield Drawing Room of the Bill Daniel Student Center, which provided faculty an opportunity to meet new board members and share ideas and suggestions with Baylor Regents.
ABOUT BAYLOR UNIVERSITY
Baylor University is a private Christian university and a nationally ranked research institution, characterized as having "high research activity" by the Carnegie Foundation for the Advancement of Teaching. The university provides a vibrant campus community for approximately 15,000 students by blending interdisciplinary research with an international reputation for educational excellence and a faculty commitment to teaching and scholarship. Chartered in 1845 by the Republic of Texas through the efforts of Baptist pioneers, Baylor is the oldest continually operating university in Texas. Located in Waco, Baylor welcomes students from all 50 states and more than 80 countries to study a broad range of degrees among its 11 nationally recognized academic divisions. Baylor sponsors 19 varsity athletic teams and is a founding member of the Big 12 Conference.