This will catapult San Diego State. Super popular campus, now will have a football stadium.
They have always played in that cavernous pit Qualcomm 5 miles from the campus.

Fill the current one first.

Are these new added acres close to campus? Supposedly near a river?, will include 35 or more acres of riverside parkway, and retail / student housing / etc.

no, this is the Qualcomm site. What this gets them is a better collegiate environment and eventually a second campus on that site, though the main undergrad campus will still be five miles away.

SDSU physically does not have enough space for an on campus stadium of the size they would want without taking out a few buildings and/or a neighborhood, so that's probably never going to happen.

To be clear though I'm still very stoked about this. SDSU is already consistently a top-10 group of five team and I'd love to reach Boise levels of consistency

I’m probably missing some of the economics here but Colorado State built an on campus stadium of the same size for $220 million. Seems like $15 USA drop in the bucket, especially since this is California

From what I've read about it, the short answer is that this is just hype to solicit more donations and/or some nice starter capital to start getting shovels in the ground.

Long answer is that the finding situation is super complex because the Q is losing money with maintenance right now so the city can think of the act of destroying it as an annuity worth millions per year. They could pass some of that on to SDSU by offering them a sweet deal on the land.

SDSU does expect to take on debt to fund it, but they expect to pay that off with annual revenue from eventual sponsorships. So their up front cash outlay will be a lot less than $250 million or whatever the total estimate is now, and therefore this donation actual does matter a little

More details.

SDSU has 132 acres already (site), "Mission Valley" - $87M.

The field was named for $15 Million. Guaranteed looking for a big naming donor. I believe the campus also is responsible for demolishing Qualcomm.

San Diego Union Tribune: "SDSU awards $250M contract for Mission Valley stadium" Clark Construction.

Funding? Revenue bonds

"Both economists were also skeptical that a 35,000-capacity facility could book enough concerts and other events to cover the gap between football revenue and an estimated annual debt payment of around $18 million. Plus, high-end, high-cost uxury boxes and club seats, which could help juice revenue, don’t typically make sense at the college level, and particularly not for the SDSU program, Zimbalist said.

Wicker, the athletic director, downplayed any financial concerns.

“We’re not going to build something that we can’t pay for,” he said, noting that the CSU Board of Trustees won’t approve bonds without the proper assurances."

https://www.sandiegouniontribune.com/business/growth-development/sd-fi-sdsu-mission-valley-stadium-clark-construction-20190228-story.html

NBC: "The Aztecs want to have it ready by the start of the 2022 college football season and are hoping to lure professional soccer, concerts and major NCAA events."

"SDSU says part of the stadium plan does include potential expansion to 55,000 seats if a National Football League team ever returns to San Diego."

Football Stadium Digest
https://footballstadiumdigest.com/2019/10/sdsu-increases-offer-for-sdccu-stadium-site/

It’s not funded but SDSU has a good track record with the CSU after building Cox. Davis on the other hand spent $30m on a $10m lacrosse field because the AD was incompetent and the chancellor was not respected by the Regents.

You've got me confused. I thought we built our new field hockey facility for about $3.2 M?