First-phase financing approved for Sun Devil Stadium renovation 

asu

Basu y Tim Gallen | Phoenix Business Journal

Major renovations to Sun Devil Stadium in Tempe inched closer to reality this week when the Arizona Board of Regents approved financing for Phase I of the project, reports The Arizona Republic.

On Thursday, ABOR authorized the sale of revenue bonds to pay for the first phase of Arizona State University’s football stadium project. Plans call for infrastructure improvements as well as a new student section in one of the end zones.

ASU has said public funds will not be used to pay for the project. Rather, $60 million in bonds and more than $5 million in private donations are slated to be used for the renovations.

Bleachers in the south endzone were razed last month. The first leg of construction should be wrapped up byAugust. The entire $256 million project is projected to be complete by 2017.

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