The University of St. Thomas in St. Paul, Minnesota, has announced a $75 million lead gift from Lee and Penny Anderson for the construction of a new arena.

The gift will fund the construction of the $175 million multiuse, on-campus arena, which will be home to the university’s Division I men’s and women’s hockey and basketball programs. The arena will be named in honor of the Andersons and will open in 2025. The arena also will provide potential opportunities for St. Thomas to partner with local schools, youth sports organizations, nonprofits, businesses, and other organizations.

The commitment is the ninth-largest known collegiate athletics gifts ever received in the United States and makes the Andersons the university’s largest donors. The couple has donated a total of nearly $140 million, including $60 million to build the Anderson Student Center, the Anderson Athletic and Recreation Complex, and the Anderson Parking Facility, as well as multiple gifts in support of scholarships and veterans resources.

“Higher education is one of the world’s most important institutions because it truly has an ability to have a positive impact on the world, and the world needs St. Thomas’ students and graduates,” said Lee Anderson, former chair of the APi Group. “For the first time ever, Minnesotans have a private university option for D-I caliber education and athletics and we’re proud to be part of making this vision a reality for young people in Minnesota and beyond.”

(Photo credit: Ryan Co. and Crawford Architects)