Penn State Releases More Details of $700 Million Beaver Stadium Renovation

Penn State's four-year renovation is scheduled for completion in 2027. Phase I begins with the College Football Playoff in mind.

Penn State plans a $700 million, four-year renovation of Beaver Stadium, setting a completion date in time for the 2027 football season. The university will begin the project this year with maintenance and winterization work to ensure that Penn State can host a potential College Football Playoff game in 2024.

The Penn State Board of Trustees on Friday approved the athletic department's $70 million funding request to begin the first phase of renovations. The university now moves to the design phase of the project, which seeks to upgrade and modernize Penn State's 63-year-old football stadium.

In a presentation to the Trustees' Committee on Fiance, Business and Capital Planning, Penn State Athletic Director Patrick Kraft outlined the process and a high-level timeline for the Beaver Stadium renovations. According to a university statement, Penn State has budgeted the project at $700 million, to be funded through a variety of measures, including loans, fundraising, potential "naming opportunities," sponsorships and new premium seating options. In addition, Kraft said the athletic department will embark on a "major philanthropic campaign" of more than $200 million.

"We have the most passionate fans in college football and we are designing the renovation to provide them with an even better experience than the nation-leading game day environment we have now," Kraft said in a statement. "Even with the substantial enhancements and new amenities, we will remain true to the traditions of Penn State Football and Beaver Stadium."

The Penn State Board of Trustees' Committee on Finance, Business and Capital Planning outlined some of the long-range for Phase 1 of the Beaver Stadium renovation. This phase concentrates on the stadium's West size. pic.twitter.com/LabihaT6RU

— Mark Wogenrich (@MarkWogenrich) May 4, 2023

In Phase I, Penn State will hire a design firm to develop an architectural plan. Penn State has released a request-for-bid and plans to name a firm by June. It expects to have a design in place by June 2024. Of more immediate need is structural, maintenance and winterization work to ready Beaver Stadium for the 2024 College Football Playoffs.

Beaver Stadium, which opened at its current location in 1960, was not build for winter use. Bill Sitzabee, Penn State's chief facilities officer, noted that Beaver Stadium faces drainage and water issues in winter conditions. Kraft said the work, budgeted at about $29 million, will ensure the stadium can host a December CFP game in a "more efficient way."

"It also allows us to be more nimble in that building during that time of year for other events," Kraft told the committee.

Details of the Beaver Stadium Renovation

The renovation will focus on Beaver Stadium's West side, which will undergo a "complete reconstruction," the university said. While the West side's bowl-style seating will remain, new features will include suites and club and loge seating areas. The project also includes upgrades to restrooms, concessions and stadium WiFi facilities.

Other renovations plans include the following:

• Lighting enhancements to meet NCAA standards
• Improved circulation on the stadium's South side to alleviate congestion and crowding near the Beaver Stadium tunnel access from the Penn State locker room.
• Suites refresh on the stadium's East side
• Restroom and concession additions on the North and East sides

The planned renovation timeline, scheduled for completion in August 2027, would cover the 2025 and '26 football seasons. Kraft said construction would impact one season of football, resulting in a loss of seating capacity. He called the impact "minimal" and said the athletic department has begun addressing the issue.

"It's impossible to do without [losing seats], Kraft said. "We don't know yet, but it's not a large amount. We're not talking ten to twenty thousand [seats]."

Beaver Stadium is the nation's second-largest venue with a capacity of 106,572. Asked whether the stadium would fall below 100,000, Kraft told the board committee, "We will never be below 100,000."

How Penn State Will Fund the Beaver Stadium Renovation

Penn State's Board of Trustees approved a $70 million bond sale to fund the project's first phase. Penn State said it would finance the remainder of the proposed $700 budget through fundraising, naming opportunities, premium seating and other options. Kraft said the renovations would create new revenue streams to help pay for the project.

In addition, Penn State is open to receiving separate state funding for the Beaver Stadium renovations. The university has said that no  tuition or state appropriations money will be used to pay for the project. 

"We know that this project has tremendous economic impact on the whole community, and if there is an opportunity at some point that the state wants to help fund part of this project, we could be very open to that opportunity, because that does happen with stadiums," said Sara Thorndike, senior vice president for finance business.

The Tentative Beaver Stadium Timeline

June 2023: Design process begins

June 2023-24: Initial construction and winterization

June 2024: Stadium design in place

January 2025: Renovation construction begins

August 2027: Construction completion 

"After years of studies and careful analysis, I'm happy that these much-needed renovations to Beaver Stadium are about to get underway," Penn State President Neeli Bendapudi said in a statement. "I am committed to continuing to grow our Intercollegiate Athletics program and to keeping Penn State competitive on the national stage. We have one of only a handful of self-sustaining intercollegiate athletics departments in the country, which means that this project can move forward, distinctly, without using the University's overall budget, tuition dollars, student fees or the critical resources available in support of our educational and research missions."

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AllPennState is the place for Penn State news, opinion and perspective on the SI.com network. Publisher Mark Wogenrich has covered Penn State for more than 20 years, tracking three coaching staffs, three Big Ten titles and a catalog of great stories. Follow him on Twitter @MarkWogenrich. And consider subscribing (button's on the home page) for more great content across the SI.com network.