After a nearly two-year process including cost and financing changes, protests, community outreach, and an inter-governmental agreement with the city of Fort Collins, the $220 million, 41,000-capacity on-campus multi-purpose stadium began construction in May 2015.

CSU president Anthony A. Frank included the new stadium as part of this goal saying "the new facility will help build a winning football team while advancing one of the school's highest priorities: attracting more out-of-state students".

According to The Wall Street Journal, "Skeptics, including some alumni and faculty, see the project as a boondoggle—especially for a team that plays in a relatively low-profile athletic conference and doesn't sell out its current 32,500-seat stadium off campus.

[6] Plans were put on hold after fundraising support for the project failed to materialize as expected, according to a September 26, 2014, story in the Denver Business Journal.

On November 29, 2014, Frank sent a memo to the school's board of governors recommending that the new stadium be approved without raising the 50% cost in public funds as previously planned.

At that time, NBCSports.com writer Brent Sobleski speculated that the hiring of Rams head coach Jim McElwain for the head coaching vacancy at Florida days earlier may have swayed the board, noting, "An improving program and a new stadium could help lure another top-level candidate like the school previously did when McElwain was initially hired.

On April 19, 2018, CSU announced it had sold the naming rights of the stadium itself to Public Service Credit Union for $37.7 million over 15 years.