Penn State football’s home field is getting a massive multi-year makeover.

The program announced Tuesday that the Penn State Board of Trustees has approved plans for a Beaver Stadium renovation project.

The Beaver Stadium renovation project received first stage approval May 2023. In January 2024, an initial expenditure of $70 million received approval. Tuesday’s announcement says the project will cost no more than $700 million and is to be completed before the 2027 college football season.

“On behalf of the Board of Trustees, I am delighted to share there is overwhelming support for the University’s recommendation to renovate Beaver Stadium,” said Board of Trustees Chair Matt Schuyler in a press release. “I’m pleased that the renovation will benefit our student-athletes, elevate Beaver Stadium’s significance in driving local and state economies, and ensure Beaver Stadium remains a premier facility in all of college athletics.”

Following the January expenditure approval, construction began on widening of select concourses and the installation of new escalators, as well as field lighting performance and videoboard replacements. The stadium is also undergoing winterization work also is ongoing to allow the building to be occupied when temperatures are below freezing. The winterization work is focused on allowing Beaver Stadium to be able to host a College Football Playoff game.

“Many recognize Beaver Stadium as the best stadium in college football, and we want to preserve the atmosphere that our fans, alumni and community have come to expect while building on this history of excellence for generations to come,” said Neeli Bendapudi, Penn State president in a release. “The renovations will have a wide variety of positive impacts on our community, help us remain a national leader by attracting top student-athletes, and continue serving as a symbol for belonging and pride for students across the Commonwealth.”

After the 2024 season, the focus will shift to improved seating options and amenities. A 21,000-square foot facility is also planned as a new stadium welcome center, enhancing the campus visit experience.

“With home football games averaging $16.2 million in tourism and economic growth in our region, the potential return on investing in a premiere football stadium is significant,” said Patrick Kraft, vice president for intercollegiate athletics via PSU. “Beyond the increased ability to host major events year-round as we winterize the stadium and build inventory, the experience for our fans will be greatly enhanced while providing the facilities our football program needs to continue competing at the highest level. I am grateful for the support of President Bendapudi and Penn State’s Board of Trustees in making this investment for the future of our university community and athletics programs.”