A Fairfield University alumnus and trustee has donated $10 million to expand and modernize the university's 35-year-old recreation complex.

The gift by John C. Meditz, a 1970 Fairfield graduate and co-founder of a New York City investment company, was announced by the university Friday.

Meditz' gift will fund an 11,000 square foot two-story expansion of Leslie C. Quick Jr. Recreation Complex and "significant renovation of the existing facility," the university said in a news release.

Built in 1979, the complex is used by 95 percent of students, the university said. It houses the university's swimming pool, Birkenstock field house, racquetball courts, and fitness and weight areas. It is home to the varsity swimming and diving teams and also used for general recreation and intramural and club sports.

The addition will include an indoor running/ walking track, expand fitness and weight-training space and provide additional multi-purpose rooms and spaces, according to the release.

Renovations will include modern floor surfaces for increased usage by intramural, club, and varsity sports programs; air-conditioning the field house; and new locker rooms for the varsity swimming and diving teams.

The university said it has retained Cannon Design as architects and Shawmut Design and Construction as construction managers for the project. All town approvals have been received, according to the release.

Meditz' gift follows what the university called "other major contributions" he has made to the university. Among them are donations that helped establish the Bellarmine Museum of Art, endow the directorship of the museum, and create additional endowed student scholarships.

Meditz lives in Weehawken, N.J. and is co-founder of Horizon Kenetics LLC, a New York City investment firm with nearly $10 billion in assets under management.

Rev. Jeffrey P. von Arx, university president, called the gift "historic and transformative."

"John has been a longtime, steadfast supporter of the University," von Arx said, and his generosity has already had a profound impact on the University community and the learning environment that we have become."