University of Houston names basketball arena Fertitta Center

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In its heyday, the University of Houston's on-campus basketball arena hosted everything from A-list concert performers to the famed Phi Slama Jama.

"This is going to be a happening' place on our campus again," UH board of regents chairman Tilman Fertitta said.

The university announced Thursday a $20 million gift by Fertitta — the largest donation by an individual to the athletic department — toward renovation and naming rights of the basketball arena.

The renovated arena — at a $60 million price tag set to open for the 2018-19 season — will be called Fertitta Center. The arena has been named Hofheinz Pavilion since opening its doors in 1969.

Fertitta, a former UH student, called Thursday's announcement "a special day" and said upgrading the school's athletic facilities "shows we are serious about competing at the highest levels of collegiate sports for many years to come."

Click through the gallery above to see renderings of the arena and learn more about lead donor Tilman Fertitta.