There would have to be a way to keep one large or two sections for families if the hillsides were to go away. I don't think the hillsides go away until there's enough demand that after season ticket prices increase and the stadium is actually full into mid/late November. Remember that Iowa couldn't sellout Kinnick for the PSU game and ISU didn't sellout for Texas game that was nationally televised this year (Yes, I know that was BO (Before Oklahoma)).
We also know that Pollard likes to be able to build with the idea of expansion later is demand calls for it. Maybe would could see the hillsides take the form that would be close to whats needed if they were to be covered up by a seating structure down the road and something like the aluminum seats that make up the lower SEZ are easily built over top. The hillsides can still get rounded off to aid in the concourse connecting and for tunnels to be built. Then the Jake can still be renovated as it currently sits. Keep the current deck level as is and then add two stories of suites above it.
Like CW says about the TV deals in 2022-24 it could reshape many things and another big project like this might come after that and more money is secured by the Big 12 or whatever conferences look like at that time.
Personally, I think that a project like this is extremely risky given the uncertainty of conference revenue in 6 years. That is, unless they have major donors lined up. But I do trust Pollard to make sound financial decisions.
I just think that IF you are considering a project on that scale (budget-wise), the first thing you need to do is bulldoze the Olsen and the Jake. I do think that the hillsides provide a great amenity to the AD in cultivating future fans. What I would do:
1. Start clean by razing the Olsen and Jake.
2. Put in permanent stands half the height of the E and W lower level connecting the stands. Band in the center, General Admission JR Cyclone Club on either side.
3. Building behind the stands with the concourse connection through the building.
4. Keep the videoboard structure.
5. Fill the hillsides behind the corner stands and up to the new building. So, GA JR Cyclone Club families can sit in the stands or the hillsides.
6. Ground level - Facilities, 2nd level - Locker rooms, players lounge, 3rd level - concourse, hall of fame. Current Olsen footprint - Nutrition center, academic center, AD offices.
What I don't understand is how they are looking to put a locker room there when the rehab/medical, the weight room, the practice facility, the equipment area is all in the Bergstrom. Does not make much sense to me unless they are connecting them somehow. Supposedly, we're going to get renderings next month. It will be interesting to see how they plan to make all of this work.