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Michigan State University Thursday received a $30 million gift from an alumnus — its largest single gift ever from an individual donor in the school's 163-year history — officials said.

The gift came from New York real estate developer Edward J. Minskoff, they said.

The money will be used to help complete the Business Pavilion at the university's Eli Broad College of Business. 

“Michigan State is an important university and important to my past," Minskoff said in a statement. "It gave me a strong foundation, so I am privileged to be making a contribution that will help Michigan State continue to attract and prepare future business leaders.”

Minskoff, a 1962 MSU graduate with a degree in economics, received an honorary doctorate in business from the Broad College in 2009. In 2013, MSU presented him with its Philanthropist of the Year Award.

Interim MSU President John Engler said he will recommend the university's Board of Trustees name the Business Pavilion after Minskoff in recognition of the gift.

"Edward J. Minskoff has been a generous and long-time donor to Michigan State and continues to make a tremendous impact on the university," Engler said in a statement. "His philanthropy has woven his legacy permanently into the fabric of our community and transformed the learning environment for our students. This gift demonstrates Edward’s confidence in Michigan State and signals a bright future for MSU and our students."

The 100,000-square-foot Business Pavilion is scheduled to open in fall 2019. It will be adjacent and connected to the business college. It will feature a glass-walled atrium with panoramic views of the Red Cedar River and an expanded career center for students, recruiters and corporate partners.

It's estimated the pavilion will cost a total of $62 million to build and Minskoff’s gift ensures it will be funded entirely from donations, officials said. To date, more than 1,400 individuals, corporations and foundations have contributed toward the project, according to the university.

MSU will accept additional donations for the project through Dec. 31. 

Eli Broad, for whom the college is named, kicked off the project with a $25 million challenge grant, $10 million of which was targeted for the Pavilion.

cramirez@detroitnews.com

Twitter: @CharlesERamirez

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