The Carlson School of Management’s core learning space will be transformed and renamed Marilyn Carlson Nelson Hall starting next year thanks to a lead gift by Marilyn Carlson Nelson, the former CEO and chair of Carlson Companies.

Encompassing about a quarter of the building’s space, the $40 million Connecting Carlson project will transform some classroom and study spaces on the lower, first, and second floors, according to a news release issued Wednesday. It will also revamp the building’s auditorium and atrium and create a new experiential learning suite on the first floor.

Interestingly, while the school has been named the “Carlson School of Management” since a gift was made by Curt Carlson in 1986, the building itself, which opened in 1998, never had a name. It has been informally referred to as the “Carlson School building,” or the school’s “flagship building.”

Now serving as the building’s namesake, Marilyn Carlson Nelson, is the daughter of Curt Carlson. Former CEO and chair of Carlson Companies, Carlson Nelson, has long advocated for the school and the university, the release said.

“It is my fervent hope that seeing my name on this flagship Carlson School building will attract and inspire more young women to seek business leadership as their opportunity to be a force for good,” Carlson Nelson said in the release.

Connecting Carlson will be funded through philanthropic sources, according to the release. A project launch celebration was held on Tuesday. At that time, donor gifts totaled $24 million for the project. The University finances the project in order to move it forward as the remaining funds are secured.

“Learning, collaboration, and community spaces matter. A lot. And we’re adding many more of them with this project,” Dean Jamie Prenkert said in the release. “The reimagination project ensures that we remain competitive as a top business school by elevating and enhancing those critical connections.”

Construction is slated to begin in December 2024 and be completed by the fall of 2026.