New center caps off financial turnaround for ORU

By: From Wire Reports
By: From Wire Reports

TULSA, Okla. (AP) - Oral Roberts University is dedicating a $12 million student and alumni center, and school leaders say it represents a major turnaround at the Tulsa evangelical university.

Leaders opened the Armand Hammer Alumni-Student Center on Friday - marking the first major construction project in more than 30 years on campus.

The 28,000-square-foot center was built debt-free.

Only a few years ago, the school was tens of million dollars in debt, then-president Richard Roberts resigned amid a financial scandal and the 1960s-era campus looked worse for wear.

But thanks to billionaire Oklahoma City businessman Mart Green - heir to the Hobby Lobby craft supply store fortune - the school paid off $55 million in debt and made $40 million in renovations.

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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