Oregon State University will construct a new business building over the next five years, thanks to substantial alumni donations.
The five-story building, which will cost $50 million to build, will double the business school's space.
The project was announced at the college's annual Alumni and Business Partner Awards dinner in Portland after a $10 million commitment from Joan and Ken Austin Jr. of Newberg, and a $6 million pledge from longtime donor, Al Reser, a 1960 alumnus who died last month, and his wife Pat Reser of Beaverton.
The building will be named after the Austins, co-founders and owners of A-dec, Inc., one of the largest dental equipment manufacturers in the world. In addition, Joan Austin is president of Springbrook Properties, which developed The Allison Inn & Spa. The Austins have made previous donations to the university, including gifts that launched the business college's Austin Entrepreneurship Program and the Austin Family Business Program.
Read the whole story at OregonLive.com.