An artist’s rendering of the Atrium at the Academic & Innovation Building, part of Vanderbilt’s planned $520 million campus in West Palm Beach
Vanderbilt University has raised approximately $77 million toward its bold plan to establish a $520 million graduate campus in West Palm Beach — thanks in large part to major gifts from Palm Beach residents Stephen M. Ross and Cody Crowell.
Ross, the billionaire real estate developer and namesake of the University of Michigan’s Ross School of Business, has pledged $50 million to the project, while Crowell, a 2007 Vanderbilt alumnus and principal at Frisbie Group, contributed $5 million. Together, they have emerged as champions of the initiative, rallying support from the South Florida business community and beyond.
The most curious part of all this: Ross had no formal ties to Vanderbilt prior to this project. As he says in a news story at Vanderbilt’s website, his investment is rooted in a vision for West Palm Beach as a hub for business, education, and innovation.
Learn more about Vanderbilt’s planned campus from P&Q’s interview with Owen Graduate School of Management Dean Tom Steenburgh.
CAMPUS TO FOCUS ON BUSINESS & TECH GRAD PROGRAMS
Stephen Ross: Successful cities “all share certain elements — strong educational institutions, innovation capabilities, a dynamic workforce and a high quality of life”
“When we look at successful cities, they all share certain elements — strong educational institutions, innovation capabilities, a dynamic workforce and a high quality of life,” Ross says. “Supporting Vanderbilt helps ensure West Palm Beach has these critical components to evolve and become the model American city.”
Ross is the founder and chairman of Related Companies and the driver of the largest private real estate development in U.S. history: New York’s Hudson Yards. He is also owner of the Miami Dolphins of the National Football League. Ross has pledged over $400 million to the University of Michigan, his alma mater, making him one of higher education’s most generous donors. He graduated from the business school that now bears his name with a BBA in 1962.
Ross and Crowell have sparked significant momentum toward Vanderbilt’s initial $300 million fundraising goal, activating their networks and encouraging others to invest in what university officials call a transformative opportunity for the region and for higher education.
The new campus — expected to open in fall 2026, pending regulatory approval — will serve about 1,000 students annually. It will focus on business and technology graduate programs, including the Executive MBA and master’s in finance programs at the Owen Graduate School of Management, as well as fields like AI, data science, and computer science. There are also plans for a cutting-edge innovation hub that fosters entrepreneurship and community engagement.
WEST PALM BEACH: ‘THE NATION’S NEW FINANCIAL HUB’
The initiative has also garnered strong support from local government, with city and county officials unanimously donating seven acres of public land — valued at nearly $60 million — for the campus site. The project is a cornerstone of Vanderbilt’s broader “Dare to Grow” campaign, a $3.2 billion fundraising effort to expand the university’s global reach and impact.
Crowell, a former student-athlete at Vanderbilt, has advocated for the project since its inception. “This is the nation’s new financial hub,” he says of West Palm Beach, pointing to a local economy that includes nearly 20,000 financial services firms and over 250,000 employees. “This community and Vanderbilt are coming together at the right time to catapult both to global notoriety.”
Meanwhile, Ross’s development firm, Related Companies, is playing a leading role in transforming downtown West Palm Beach through millions of square feet in commercial and residential development. His backing of the Vanderbilt campus builds on a long-term vision of intentional, high-quality urban growth.
‘A BEACON FOR WHAT THE FUTURE OF BUSINESS & EDUCATION CAN LOOK LIKE’
Designed by Elkus Manfredi Architects, the West Palm Beach campus will blend aesthetics and function, including green outdoor gathering spaces and a tropical arboretum featuring native South Florida flora — a nod to Vanderbilt’s Nashville heritage and its “One Vanderbilt” philosophy.
“This campus will be a beacon for what the future of business and education can look like — not just in Florida, but nationally,” Crowell says.
Chancellor Daniel Diermeier credited Ross and Crowell’s early leadership as “essential” to realizing the university’s vision. “We are deeply grateful for their generous investments, which bring even greater momentum to this transformative initiative,” he says. “Establishing a campus in the financial nerve center of West Palm Beach will open new avenues for our students and faculty and allow us to extend our economic impact and innovative capacity to South Florida.”
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