WACO, Texas (KWKT) — Baylor University and the City of Waco announced the partnership for the Paul and Alejandra Foster pavilion Tuesday night — the newest facility that will be home for Baylor’s championship men’s and women’s basketball teams.

“We’re deeply grateful to Paul and Alejandra Foster. They kind of saw this vision probably long before we start talking to the city about it,” said Baylor’s president, Dr. Linda Livingstone.

The nearly 200 million basketball venue will be a multi-use facility. It will be used as a performing arts center and steam center.

“On so many levels over many, many years, had some really wonderful partnerships with the city and with the county on projects, of course, the most recent biggest is McLane stadium,” said Dr. Livingstone.

Baylor is conveying more than 4.8 acres in the riverfront area. It will be located along the Brazos River on the west side of Interstate 35 adjacent to the university’s Clifton’s Robinson tower.

“I think it’s going to be the centerpiece now of the downtown riverfront and really a transformational project that’s going to spur downtown Waco businesses help small businesses downtown,” said council member Jim Holmes.

Dr. Linda Livingstone says they hope this new addition will connect Baylor students to the city of Waco.

“We see this project, particularly with all the work that’s being done on I-35 and the the way those walkways and passageways between the city and will change and be much more friendly to individuals,” says Dr. Livingstone.

The arena will seat 7,500 fans, have two 2,000-square-foot video boards and it will be used for additional events, such as concerts, performances and public events.

“It’s it’s a win-win for the city, it’s a win for Baylor University, and I certainly believe it’s a win for our athletic program,” says Baylor’s athletics director Mack Rhoades.

Construction on the arena is expected to begin in June and be done by the end of 2024.