Drexel to receive $45 million gift for new center for business school
Drexel alumni Bennett LeBow, after whom Drexel's Business School was named, has donated $45M for the school's new Academic Center. The twelve story limestone building will be completed in 2014 at a cost of $92M. The building will be named after late Drexel President Constantine Papadakis and located at 32nd and Market. The selected location is intended to serve as an entrance to Drexel University and the materials used are meant to compliment 30th Street Station and the former postal headquarters nearby.
On the site, Matheson Hall, built in 1965, will be demolished next summer.
Lebow graduated in 1960. The school was named after him when he donated $10M in 1999. As the current economy has frozen most Center City development, University City continues to redefine its skyline.