Demolition of the Days Inn building and construction of the new apartment complex are tentatively expected to begin in June.
Bowen spent four seasons with Virginia Tech head coach Brent Pry on James Franklin's staff in Happy Valley.
The contest will serve as the sole regular-season meeting between Penn State and Iowa.
Schumacher-Cawley was a two-time All-American for Penn State and played a key role in delivering the team's first national title back in 1999.
In addition to his career-high 17 points, Stevens recorded four rebounds, two steals, and an assist, almost single-handedly keeping his team in contention until the fourth quarter.
Students can purchase $5 tickets for the THON game in the HUB on Monday, January 10.