HOUSTON, Texas (KTRK) -- Rice University's football stadium is getting a new name for the first time in its history.

The university said that starting Oct. 3, the stadium will become "First Community Stadium." Rice University signed a 20-year naming rights agreement with First Community Credit Union, which the school said will become the official financial institution for Rice Football, Rice Athletics and the Association of Rice Alumni.

This comes as the stadium is set to undergo a major renovation as part of the $120 million Gateway Project, which also links the stadium area with Rice Village.