Notre Dame Receives $40 Million in Gifts From Alumni

The University of Notre Dame has announced gifts totaling $40 million from Jimmy and Susan Dunne of New York City and Jay and Mary Flaherty of Los Angeles to create two residence halls on campus.

Each couple has pledged $20 million toward construction of the buildings — Dunne Hall for men and Flaherty Hall for women — which are expected to open for the 2016 fall semester. Each hall will include singles, doubles, quads, and, in Dunne, six-person rooms. In addition, half of the first floor of each building will be devoted to community spaces, including a two-story lounge, reading room, study areas, and chapel. Additional space will include pass-through floor lounges on the second, third, and fourth floors designed to encourage group gatherings. Both halls also will have fitness and laundry rooms, vending and storage areas, and a landscaped outdoor patio.

Jimmy Dunne ('78), senior managing principal of investment banking firm Sandler O'Neill + Partners, is a member of the university's board of trustees. Susan Dunne earned her bachelor's degree in business administration from Lynchburg College and spent twelve years as an executive recruiter in New York City.

Jay Flaherty ('79), also a member of the university's board of trustees, earned his MBA from the University of California, Los Angeles and spent two decades at Merrill Lynch in a variety of investment banking, capital markets, and private equity roles. He served for eleven years as chairman and CEO of HCP, the third largest REIT in the United States, and currently serves as managing director of a real estate joint venture with NorthStar Asset Management.

"We are humbled by the generosity of the Dunnes and Flahertys," said Notre Dame president Rev. John I. Jenkins. "Residence halls are at the heart of a Notre Dame undergraduate education, and these halls will enhance that education for generations to come."