The University of Oklahoma Board of Regents approved the design and development elements for upgrades to Gaylord Family-Oklahoma Memorial Stadium during its meeting Tuesday.The approved design to the upgrades to OU's football stadium will have an estimated $160 million budget, according to the news release. The project's first phase is scheduled to be completed prior to the 2016 football season.The money for the project will come only from private gifts and the athletics department's revenues and is scaled to reflect the uncertainty of economic conditions cause by low oil and gas prices, according to OU President David Boren.“We stated from the beginning that our priorities were student-athletes and fans, and this work allows us to serve both of those groups,” Boren said. “We have taken the prudent step of phasing the project, which enables to us to take a reasonable approach to construction and funding."The focus on the first phase of the project will focus on the south end zone.By closing off the lower-bowl seating, the project will increase the stadium's seating capacity to more than 84,000, although the estimation could be more as future adjustments could add more seats, according to the release. Part of the stadium's current south end zone will be demolished and reconstructed.The reconstructed south end zone will allow for all student-athlete services to be moved to the ground floor, according to the release. That space will include a new locker room, strength and conditioning room, training room, nutrition center, meeting rooms and equipment operations that student-athletes from all OU sports will be able to use.The size of the weight room will almost triple to 26,600 square feet and will have a 70-yard turfed speed and agility training center, according to the release.The seating bowl will have an expanded concourse, additional restrooms and concession stands as well as other amenities. Twenty-two suites, 60 open-air boxes and 1,976 club seats will be added, too.The building's third floor will be able to hold all of the football offices and the video department.Also, two 3,000-plus-square-foot open-air fan plazas will be added to the southwest and southeast corners. The plazas will have direct views to the field.“This project reflects our goals of providing a world class facility for our student-athletes and adding more opportunities to engage fans and create memorable experiences for them,” said Joe Castiglione, vice president and athletics director.  “We’ve been on a steady and diligent pace with our partners on this project and have developed something very special that meets our needs and gives Oklahoma a competitive advantage.”