The Nittany Lions' downfall came in the third quarter when the group was outscored 6-1 by Michigan.
The full renovation, which would last around four years and cost an estimated $700 million, will include maintenance projects, winterizing, and architectural and design development.
As a freshman, Mahaffey averaged 9.4 minutes, 2.8 points, and 1.7 rebounds per game, while shooting at a 56.9% clip from the field.
Imes commitment to Notre Dame finalizes an exodus of high school signees from Penn State.
The organization has raised over $3.6 million from its founding in 1995.
Toby Ezeonu returned in the third set after sustaining an injury during the conference semifinals.