Every time I read about this, I wounder if Jack bit off more than he could chew. I have wondered why he had to swing for the fences with a $180+ million project, and not start with a better base, but expandable option.
AT SMU we built the new stadium in 1999 - 2000 for $42 million (estimated comparable cost of $57 million in 2014). The capacity is 32,000 seats, and open space in the south endzone (highest attendance of 36K). There are two potential phases for expansion, with the first one increasing seat capacity to 45K.
I know there are other costs associated with the CSU project, and SMU had other costs as well (underground parking, roads, training facility, other).
Choosing this path for the stadium seems more logical to me. This allows for lower levels of funding, less risk of failure, and expanding something that already exists is much easier than trying to get it all at once.