Temple University's board of trustees has authorized plans for a $126 million, 35,000-seat stadium and retail complex on its campus in Philadelphia.
The Philadelphia Inquirer reports that the trustees' approval came despite critical comments from community members who oppose construction of a stadium.
“Having our own stadium will help showcase our vibrant campus as we celebrate Temple’s accomplishments on and off the field," says Temple President Neil D. Theobald.
- The total budget for the football stadium may not exceed $130 million.
- the plan calls for a fund-raising campaign of $50 million to support the project.
- The proposed stadium would have a capacity of about 35,000—about half the size of Lincoln Financial Field, where the university now plays its home games.
- Temple's goal is that enhanced revenue from the stadium and savings from ending its lease at Lincoln Financial will result in net savings of about $3 million a year.
- The university will spend no more than $1 million to pursue initial designs and studies to determine how the proposed site can best be used for the complex.
- Temple will collaborate with community members and government officials to address local residents’ concerns about the development, such as parking, trash and noise.
If the plan proceeds as anticipated, Temple would begin construction of the facility in 2017.