Yale receives $150 million for campus and student center

Yale University campus (file).

NEW HAVEN, Conn. (AP) – Yale University has received a $150 million gift to build a new student and campus center.

The school says the donation came from alumnus Stephen Schwarzman. Schwartzman is the co-founder of the private equity Blackstone Group.

The money will be used to turn the Commons Dining Hall and part of the adjacent Memorial Hall into an 88,300-square-foot complex. It will include performance, exhibition, meeting, dining and gathering spaces.

The school hopes to open the center in 2020. This is the second-largest gift in Yale history.

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