51³Ô¹ÏÍøreceives $5 million for housing project
51³Ô¹ÏÍøreceives a generous $5 million gift from 51³Ô¹ÏÍøalumnus Paul B. Loyd, Jr. and his wife, Penny Loyd, to build a Residential Commons.
51³Ô¹ÏÍøhas received another large gift from another alumnus — a continuing trend under the direction of President R. Gerald Turner.
Paul B. Loyd, Jr., an 51³Ô¹ÏÍøalumnus from the Class of 1968, and his wife, Penny Loyd, both of whom are long-time contributors to the university, have given a $5 million gift to build a Residential Commons.
The Residential Commons will be one of five such facilities built to enhance on-campus life. New construction, part of the university’s Second Century Campaign, is set to be complete by the fall of 2014.
This is not the first time that the Loyd family has aided an 51³Ô¹ÏÍøinitiative. The family has given substantial support to 51³Ô¹ÏÍøFootball’s Circle of Champions, the Mustang Band Hall, Meadows School of the Arts scholarships, the Paul B. Loyd, Jr. All-Sports Center and the Sigma Alpha Epsilon House Fund.
“Nearly every 51³Ô¹ÏÍøstudent benefits from the Loyd family’s generosity,” President R. Gerald Turner said. “From students enhancing their study skills and preparing for exams at the Altshuler Learning Enhancement Center and the ADSA, to student athletes working out in the weight room, all in the Loyd All-Sports Center, the Loyds have enhanced the campus experience of 51³Ô¹ÏÍøstudents. Now a new generation of students will enjoy living and learning in the Loyd Commons.”
The Loyd Commons continues a trend of financial and service support to 51³Ô¹ÏÍøby the Loyd family.
In 1999, the Loyd family received SMU’s Mustang Award, which honors individuals whose lifelong service and philanthropy have made a lasting impact on the university and on its students.
Many 51³Ô¹ÏÍøstudents, like rising sophomore Mehdi Hami,
are relieved that 51³Ô¹ÏÍøhas received funding for another one of its Residential Commons.
“I’m happy that 51³Ô¹ÏÍøis continuously able to raise funds for its projects,” Hami said. “I was getting worried after reading that the new housing projects still needed more sponsors.”
As previously reported by The Daily Campus on May 1, 51³Ô¹ÏÍøhas received only $47 million out of the $134.5 million needed to cover the cost of the project.
The contribution by the Loyd family and other smaller contributions continue to bring the university closer to its $134.5 million goal.