The swell of new construction was kicked off in 2001 with the building of the Ted Constant Convocation Center. This 8,600-seat arena has become the home of both men's and women's basketball, as well as a premiere venue for concerts and other performances. The "Ted" as it is affectionately called by students and alumni is part of a $55 million 75-acre (30 ha) development known as The University Village.