Fairfield University says it will build a 3,500-seat “convocation center” and basketball arena on its Fairfield campus.

Projected to open in 2021, the 85,000-square-foot, $45 million facility will boast a state-of-the-art broadcast and media center, luxury seating and lounge areas.

Designed by Centerbrook Architects and Planners, the building will be home to its Division I basketball and volleyball programs, Fairfield Prep basketball, and will host convocations, concerts and gatherings for the university and the neighboring community at large. Although the official timetable for construction is still to be determined, the building project is expected to begin in the spring of 2020 and take between 18 and 24 months.

“The new Convocation Center will have an important role to play for the entire university and Fairfield Prep community, in terms of being a true community resource – a venue for events very similar to what we use Alumni Hall for today, but just serving them better,” David Frassinelli, vice president for facilities management at Fairfield University, said in a statement.

Final approvals from the Fairfield University board of trustees and the town of Fairfield are on track, the university said, and the projected financing is proceeding as planned.