Matheson-Demolition-Ceremony

The time capsule found in Matheson Hall

Drexel University’s LeBow College of Business faculty, staff and students will be joined by the Drexel community in bidding farewell to Matheson Hall in a demolition event that will make way for a new 12-story, 177,500 square-foot business center that will change the face of Drexel and Market Street. Attendees will also witness the opening of a time capsule found in the building’s foundation. The time capsule will be opened for the first time since it was placed in Matheson’s structure in 1965 during the event on October 5 from 11:30 to noon.

Keating Building Company president Bradley W.B. Statler will present LeBow College of Business Dean George Tsetsekos with the time capsule to unveil its contents. Together they will lead the ceremonial first strike with sledge hammers. Members of the Dean’s Advisory Board and Council, and Mario, Drexel’s Dragon mascot, will also participate.

The new academic center is supported by a $45 million gift from financier and corporate executive Bennett S. LeBow. The gift is the largest donation to Drexel from a single donor and the largest by an alumni benefactor.  The $92 million center is slated for completion in fall 2014. Robert A.M. Stern Architects LLP and Voith & Mactavish LLP designed the new facility. Keating Building Company will oversee the construction.