DePaul University announced that they have received a $2.5 million donation dedicated to the new basketball practice facility.
Jennifer Steans and James Kastenholz are coming forth with the donation for the approximately $60 million needed for the project will be privately funded through donations and gifts.
Steans is a DePaul Board of Trustees member, president and CEO of Financial Investments Corporation and a trustee for The Steans Family Foundation. Kastenholz is CEO of Kastenholz Construction Services, a general contractor specializing in residential interiors, historic renovation and large-scale institutional expansion projects.
The facility is planned for the northwest corner of North Sheffield Avenue and West Belden Avenue, across the street from Sullivan Athletic Center and McGrath-Phillips Arena. Chicago’s 43rd ward Alderman Timmy Knudsen announced his support for the project on Sept. 27.
The new facility, which is pending Chicago city council approval, is dedicated to mens and women’s basketball and gives each team their own dedicated practice courts as well as locker rooms. The facility will also have a broadcast studio for those students who are interested in pursuing a career in broadcast journalism.
“Thanks to the generosity and vision of Jen and Jim, we are reimagining the power of DePaul for the modern moment,” DePaul University President Robert L. Manuel said. “The entire university will benefit from a vibrant athletics program that prioritizes success for student-athletes and elevates the visibility of our institution as a national leader in quality higher education.”
The new practice facility is part of DePaul Vice President and athletic director DeWayne Peevy’s DePaul Athletics Dream Big campaign about furthering the advancement of DePaul athletics.
“Athletics holds tremendous value for DePaul, serving as a vehicle for national exposure, fostering connectivity with alumni, engaging with the Chicago community, and enhancing school spirit among our university community,” Peevy said. “Our facilities signal our seriousness and commitment to our student-athletes, and we are immensely grateful to Jennifer and Jim for their forward-thinking leadership and generosity.”
New men’s basketball coach Chris Holtmann said on Oct. 7 that Ald. Knudsens approval of the project was needed due to other Big East schools having dedicated facilities for basketball.
“I’m sure Dwayne would tell you that we needed this to happen years ago, but it’s huge that we’ve got the okay from him (Knudsen).” Holtmann said on Oct. 7.
“These investments, made possible by donors such as Jennifer and James, provide our student-athletes and coaches with the resources to recruit, develop, and compete at the highest levels of collegiate athletics,” men’s basketball coach Chris Holtmann said. “They show the nation DePaul’s commitment to our student-athletes and signal a new era for the university, allowing us to grow into a national leader in yet another discipline.”