Foundation Donates $20-Million to Texas University
April 21, 2011 | Read Time: 1 minute
Texas’s Moody Foundation has committed $20-million to a planned makeover of Southern Methodist University’s aging basketball arena, The Dallas Morning News says.
The gift announced by the Dallas university Wednesday amounts to half the expected cost of the project. The 55-year-old arena was renamed the Moody Coliseum in 1965 in recognition of a $1-million gift from the foundation.
Campus officials hope to start construction after the 2011-12 basketball season and to host more concerts in the renovated arena to boost revenue. The facility will also be used for events connected to the George W. Bush Institute at Southern Methodist.
