Campus-wide construction projects are done within an initiative to achieve LEED platinum ratings.
That definitely drives up construction costs, so I can see where that may be a connection point to your rant about liberal sensibilities being a problem for CU athletics.
However, I also know from living in Boulder that these type of things matter to the community. Investments that garner community support are good for the athletic programs.
I also know that a lot of young people have adopted the environment as a quasi religion. Investments that make a good chunk of our student body proud of their athletic facilities are good for the athletic programs.
Further, I also know that this type of thing yields positive press on the state and national levels. Investments that promote the university raise its profile, increase donations (to athletics and otherwise), and increase applications.
Finally, I also know that these types of things matter when looking for corporate partnerships and government funds. Companies and politicians prefer that their names are tied to things that are seen as socially responsible, so this LEED investment is positive from that standpoint.
I would argue that the increased construction costs will be net positive to the CU balance sheets over time and will help to support a better university with a positive influence on successful athletics.