The new Richard W. Sankey Hall, will be an extension of the Martha and Spencer Love School of Business, and will provide classrooms and learning facilities for all Elon students. The new building will be located on the north side of McMichael Science Center parking lot, and adjacent to Colonnades Dining Hall.
Elon parents Jim and Beth Sankey have made the 8 million dollar donation to gain naming rights of the building to honor Jim Sankey's father, Richard Sankey. Richard Sankey was a business leader and entrepreneur for Alpha Enterprises, a plastic design company he launched himself. His company went on to become the predecessor to InVue, a global company responsible of making security devices to protect smart phones, tablets, and other technological equipment. The Sankeys have been prominent figures in the Elon community for many years. In 2008, the family made major contributions to support construction for the Alumni Field House and the Numen Lumen Pavilion.
The 30,000 square foot, three story high, new business facility is one of two buildings being planned as the university continues its Elon University's strategic plan. Progress is still being made for the new building for the physical sciences building, whose name has not yet been announced.