An ISU alumnus and his wife have announced their intent to donate $1 million to the construction of the new Gerdin Business Building, bringing the amount of private contributions to the building to about $14 million.

The Bergstrom’s contribution will help finance the construction of the commons area, which will be considered the living room of the building, said Labh Hira, dean of the Business College.

The new area will be named The Kelley and Joan Bergstrom Commons, in honor of the couple’s donation.

The room will be equipped with wireless ethernet access for laptop computers, Hira said. Lounge furniture will be scattered throughout the room, including tables and chairs for studying.

A coffee bar will be added to the room, offering a variety of snacks, including pastries and sandwiches.

The College of Business had to obtain a restaurant license in order to make the coffee bar possible. The food area will be operated by ISU Dining.

“This will provide a facility for students to interact in,” Hira said.

Kelley and Joan Bergstrom currently reside in Kenilworth, Ill., but have remained very involved in ISU affairs over the years.

Kelley is the vice chairman of the ISU Foundation Board of Directors and a chairman of the investment committee. He is expected to assume a two-year position as the chairman of the board of directors on Oct. 4 of this year.

Members of the board of directors are friends and alumni of Iowa State who come from around the country, said Jason Menke, assistant director of communications for the ISU Foundation.

Although the Bergstroms live a state away, Kelley assumes his ISU Foundation responsibilities through e-mail and phone calls, and by returning to Ames for meetings.

“[The Bergstroms] are very committed to Iowa State University,” Menke said.

Although the Bergstroms let the ISU Foundation know of their intentions to donate the money in May of 2003, the official announcement has been withheld to coincide with Kelley’s expected appointment as chairman, Menke said.

Kelley is the president of Bergstrom Investment Management, a real estate and private equity investment company founded in 1998. He is a 1965 graduate of Iowa State in industrial administration, going on to earn his master’s degree in 1968 from the University of Florida. Joan Bergstrom graduated from the University of Illinois in 1967.

The construction costs for the Gerdin Business Building are hovering around $25 million, but more than half of the funds have been supplied by private donations. Russell and Ann Gerdin of Coralville became the building’s namesakes when they donated $10 million to the fund-raising efforts.

The building is expected to be finished in January of 2004, and will provide a better learning environment for students, Hira said.

“It’s the first building we can call home,” he said.