RADFORD -- The Radford University campus is on the verge of a major facilities transformation thanks to the infusion of $211 million in funding from various sources.

Wednesday, RU received its latest piece of great news from Richmond when the Virginia General Assembly approved an ambitious $1.5 billion bond package with $1.1 billion earmarked to support higher education. The bond package includes two important building projects for RU.

RU’s approved projects include $34.2 million to construct a signature building for the College of Business and Economics. Total cost of this project is $44.2 million, which includes the issuance of bonds through the Virginia College Building Authority (VCBA) for $34.2 million and $10 million in private funds.

RU also will receive $1.5 million in general fund monies for the planning of a new $37 million building for the College of Science and Technology.

“We want to express our great gratitude for the hard work and vision of the Governor, the General Assembly and State Council of Higher Education for Virginia for this unprecedented investment in higher education in the Commonwealth,” said President Penelope W. Kyle.  “We also want to thank our alumni and friends for their tremendous support in helping us to articulate our case for these initiatives.”

“The scope and ambition of our campus improvement plan marks a spectacular milestone for Radford University as we strive to become one of the top masters universities in the nation,” Kyle added.

A new signature COBE building will allow for all business classes, faculty and related research to be located in a single building for the first time. This new facility will enable the business college to upgrade classroom instructional technology and services in accordance with the Association to Advance Collegiate Schools of Business’ accreditation review recommendations.

A new science and technology building will integrate information technology and math and science programs that are currently scattered among four separate buildings. A modern building will accommodate the learning technologies needed for effective science, technology and math instruction. 

In addition to the bond projects, Governor Timothy Kaine and the General Assembly authorized RU to undertake another $114.2 million in capital improvement projects funded through auxiliary funds and university-paid debt.

These major projects include:

• $36 million for the construction of three new residence halls
• $32 million for the construction of a new student fitness center
• $20 million for the construction of an addition to the Bonnie Hurlburt Student Center
• $11 million for the construction of a parking deck
• $9.6 million for other capital projects

Capital improvement projects currently in progress at RU include:

• $22.5 million for the Douglas and Beatrice Covington Fine Arts Center, scheduled to open in October 2008
• $15.7 million for the renovation of the Dedmon Center athletic arena, scheduled to reopen in late fall 2008
• $8.9 million for renovations to Heth Hall, scheduled to reopen in fall 2009
• $6.5 million for renovations to Young Hall, scheduled to reopen in summer 2009
• $2.3 million for renovations to Davis Hall, scheduled to reopen in spring 2009.