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UCF Stadium Improvements to Run $88M
The University of Central Florida (USF) knows it needs to spend to keep up. It recently joined the Big-12 Conference and is coming off a disappointing 6-7 season.
The school has announced details of its new $88 million football stadium expansion. Called the FBC Mortgage Stadium, workers will soon start adding more premium suites and improving the press box. The new seats will generate about $2.4 million in annual revenue. Other funding may come from UCF issuing $30 million in bonds and taking out a $70 million short-term bank loan. The school is expecting to receive $90 million in Orange County tourist development money in total, about $10 million a year. That money is not expected to flow until later this year.
The FBC Mortgage Stadium’s 58,000-square-foot expansion of its premium seating area going from 900 seats to 1,236; two new suite levels — including 34 loge boxes and five additional luxury suites — and a new level for the press.
Dallas-based Aecom will be the architect and Southfield, Michigan-based Barton Malow will be the construction manager.
- ◦Development
