The University of South Florida will have a new sports stadium on its Tampa campus by fall 2027 — and we now know the final price tag.
The school's Board of Trustees approved a package of $348.5 million on Tuesday. That’s $8 million more than agreed on two years ago.
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According to a university news release, the added $8 million will come from interest earnings on $200 million in financing previously issued by the USF Financing Corp.
“It's about as big of a check as we're ever going to write for anything at the University of South Florida," said Board of Trustees Chair Will Weatherford during a special board meeting Tuesday. "I’m a believer in measuring twice and cutting once.”
USF Foundation CEO Jay Stroman provided board members with updated plans for the project. He said the designs were now complete — and they will allow the stadium to be used for more than football and women's lacrosse.
“The ability to bring concerts, other NCAA events, into the stadium, maybe even state championships for high school football in Florida; we needed an extra locker room in order to be competitive when you're out there for bidding,” he said.
Stroman and USF athletic director Michael Kelly decided on the idea when looking for alternate revenue streams for the stadium.
Stroman said that he and Kelly visited sports facilities across the country to draw inspiration, so that the USF facility could become "the best in the country when it opens."
Additional plans revealed at the meeting included a vertical expansion of the Tampa General Hospital Center for Athletic Excellence, creating academic facilities near the stadium area, and the potential to add an extra 10,000 to 15,000 seats in the future.
The stadium's capacity is currently set at about 35,000.
University officials said they'll continue clearing the stadium site on the east side of the campus in May, with full construction expected sometime after that.
Final inspections should be done in spring 2027. Teams will move into the facility that summer, with the first events scheduled for fall 2027.
Trustees also approved $47.9 million in infrastructure improvements on the east side of the Tampa campus. The money will come from Public Education Capital Outlay funds previously allocated to USF.
The enhancements include a new lift station, water main and stormwater improvements, increased security and fencing, and added paved walkways and green space.
Combined with a total of $10.5 million in contingency costs to cover the stadium and improvement project, USF trustees approved a $407 million package.
