CALGARY -- Underutilized spaces within Mount Royal University's main building are set to receive new life thanks in part to a generous gift from Don and Ruth Taylor.

On Thursday, the Taylor Family Foundation announced a $15 million donation to the post-secondary institution in southwest Calgary to honour Robert Samuel Taylor, Don Taylor's father.

"When we make a donation it is not a one-way street," said Don Taylor, the founder of Calgary-based Engineered Air, in a statement released in conjunction with the announcement. "We get great satisfaction and joy from the results of our gifts. I am sure this gift will give us just that too."

The gift, alongside a previously announced $50 million in capital funding from the Government of Alberta, will fund the transformation of empty and old areas of the building into new learning spaces.

The changes are set to include a conversion of the former conservatory into four large multi-functional classrooms and the creation of a student services hub in the former library space.

"We can’t begin to thank the Taylor family enough for their generosity," said Tim Rahilly, MRU president and vice-chancellor. "They have played a pivotal role in transforming our campus to serve the needs of 21st century learners."

"On behalf of students of MRU I just want to extend my greatest gratitude to the Taylor Family Foundation for their generous donation to our university," said Spirit River Striped Wolf, president of the Students’ Association of Mount Royal University. "This donation will enhance the student experience by supporting much-needed classroom and gathering spaces, as well as the supports and services provided on campus.

"This year has been a difficult one for all of us and this investment is a great reminder of how much students are valued in our community."

This is not the first significant donation the Taylors have made to MRU. In 2010, the family pledged $21 million to the school — the largest donation in MRU history — that funded the construction of the Taylor Centre for the Performing Arts and the Bella Concert Hall.