SMU has received another large gift from another alumnus – a continuing trend under the direction of President R. Gerald Turner.

Paul B. Loyd, Jr., an SMU alumnus from the Class of 1968, and his wife, Penny Loyd, both of whom are long-time contributors to the university, have given a $5 million gift to build a Residential Commons.

The Residential Commons will be one of five such facilities built to enhance on-campus life. New construction, part of the university’s Second Century Campaign, is set to be complete by the fall of 2014.

This is not the first time that the Loyd family has aided an SMU initiative. The family has given substantial support to SMU Football’s Circle of Champions, the Mustang Band Hall, Meadows School of the Arts scholarships, the Paul B. Loyd, Jr. All-Sports Center and the Sigma Alpha Epsilon House Fund.

“Nearly every SMU student benefits from the Loyd family’s generosity,” President R. Gerald Turner said. “From studentsenhancing their study skills and preparing for exams at the Altshuler Learning Enhancement Center and the ADSA, to student athletes working out in the weight room, all in the Loyd All-Sports Center, the Loyds have enhanced the campus experience of SMU students. Now a new generation of students will enjoy living and learning in the Loyd Commons.”

The Loyd Commons continues a trend of financial and service support to SMU by the Loyd family.

In 1999, the Loyd family received SMU’s Mustang Award, which honors individuals whose lifelong service and philanthropy have made a lasting impact on the university and on its students.

Many SMU students like rising sophomore Mehdi Hami are relieved that SMU has received funding for another one of its Residential Commons.

“I’m happy that SMU is continuously able to raise funds for its projects,” Hami said. “I was getting worried after reading that the new housing projects still needed more sponsors.”

As previously reported by The Daily Campus on May 1, SMU has received only $47 million out of the $134.5 million needed to cover the cost of the project.

The contribution by the Loyd family and other smaller contributions continue to bring the university closer to its $134.5 million goal.