The arena project at Coastal made a major advancement last week with the announcement that Your Residential Technology Team Inc., or YRT2, a Charlotte-based company, has signed a letter-of-intent agreement to purchase the official naming rights for the facility.

The 10-year, $3.5 million agreement gives YRT2 prominent signage at the facility and in advertising. An official name for the center will be announced at a later date.

Coastal will be primary tenant at the arena, which will serve as the home for the CCU men and women's basketball programs and the site for commencement ceremonies and other large university events. The 7,000-seat facility will also host an indoor football team, a minor league hockey squad, concerts and ice shows.

In addition to the main 160,000 square-foot facility, the complex will include a conference facility, basketball practice area, athletic department offices and an adjacent ice rink.