March 07, 2022
A $10 million gift made to Villanova University on Monday will be used to fund the modernization of the school's Falvey Library, bolster the DiLella Center for Real Estate and create a new speaker series focused on current events.
The gift comes from the H. Hovnanian Family Foundation, which honors the legacy of the late Hirair Hovnanian. The 1956 Villanova graduate and civil engineer went on to establish Hovsons Inc., a New Jersey-based company in the land developing and residential housing construction industry.
“Three generations of our family have had the honor of attending Villanova — an institution whose educational quality has never been compromised and whose focus on traditional values has ensured its graduates represent the best of what this great country of ours can rely on to be our nation’s future leaders,” said Siran H. Sahakian, Vice President of the H. Hovnanian Family Foundation. “Through this gift, we hope to further enhance the academic experience for all Villanova students and support the University’s vision for the future.”
The university said Monday the gift will support large-scale renovations planned at the Falvey Library and will establish a Hovnanian Family Endowed Chair to lead the Daniel M. DiLella Center for Real Estate within the Villanova School of Business.
The speaker series will deal with critical contemporary issues and will aim to be a model for the civil dialogue across a range of viewpoints.
The gift adds to $13.5 million in donations last month from three alumni to fund the expansion of Villanova's College of Engineering. The gifts came from former Sunoco CEO Jack Drosdick, retired Oracle executive Richard K. Faris and RTM Vital Signs CEO Nance K. Dicciani, a former Villanova trustee who founded a medical device startup company.
In recognition of the $10 million gift announced Monday, Villanova will rename its newest campus residence Hovnanian Hall.
“I am extremely grateful to the Hovnanian Family Foundation for this gift, which demonstrates its confidence in Villanova’s mission and desire to continue to move the University forward,” said Villanova president the Reverend Peter M. Donohue.