Villanova University has announced a $10 million gift from the H. Hovnanian Family Foundation in support of academic and capital initiatives.

Made in honor of the late Hirair Hovnanian, the Villanova alumnus who established the foundation, the gift will help complete the modernization of the university’s main library, establish an endowed chair in the Villanova School of Business DiLella Center for Real Estate, and create a university-wide speaker series focused on the thoughtful and civil exchange of ideas on current issues. In addition, a building on campus will be named Hovnanian Hall.

An Armenian immigrant and longtime supporter of Armenian causes, Hovnanian was a co-founder of Hovnanian Enterprises, one the largest home development companies in the United States. In addition to the latest commitment, the foundation has contributed more than $800,000 to the university since 2014.

“Three generations of our family have had the honor of attending Villanova,” said Hovnanian’s daughter Siran H. Sahakian, a vice president of the foundation and a member of the university’s board of trustees. “Through this gift, we hope to further enhance the academic experience for all Villanova students and support the university’s vision for the future.”