Palm Beach residents and real estate developers Stephen Ross and Vanderbilt alumnus Cody Crowell, BS’07, have emerged as champions for Vanderbilt University’s West Palm Beach campus project, activating their own networks as well as the South Florida and broader university communities in support of this visionary opportunity to spur innovation and growth.
Ross, who had no formal affiliation with Vanderbilt prior to the project, committed $50 million to help shape the Palm Beach area as a leading hub for business and technology. His and Crowell’s support has sparked significant momentum toward Vanderbilt’s initial $300 million fundraising goal for the campus.
To date, Vanderbilt has received major gifts from both unaffiliated and alumni donors, totaling approximately $77 million. The university is actively engaging with supporters in the Palm Beach community, including city and county officials, business leaders and alumni, who share Vanderbilt’s enthusiasm for the transformative potential of this new venture.
Both Ross and Crowell are committed to catalyzing economic growth and innovation through Vanderbilt’s presence. As prominent business leaders in the Palm Beach community, they recognize the unparalleled opportunity it presents for the region and the university. Their leadership aims to inspire others to join in advancing this visionary effort.
“From the start, Stephen and Cody’s partnership has been essential to realizing our vision for a campus in West Palm Beach,” Chancellor Daniel Diermeier said. “Now we are deeply grateful for their generous investments, which bring even greater momentum to this transformative initiative. 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. We look forward to becoming a vital and innovative presence in Palm Beach County, and appreciate the warm welcome we have received.”
Ross’ previous work, including the Deutsche Bank Center and Hudson Yards in New York, reflects a deep commitment to high-quality and intentional urban development. This investment is about supporting the ingredients a vibrant community needs to grow thoughtfully, Ross said.
“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 said. “Supporting Vanderbilt helps ensure West Palm Beach has these critical components to evolve and become the model American city.”
Crowell, a principal and managing partner with Frisbie Group, a preeminent investment organization focused on placemaking, revitalization and large-scale mixed-use developments in Palm Beach, contributed $5 million to demonstrate his belief in the project—one for which he has been a vocal supporter since its very early stages.
Having lived the Vanderbilt experience firsthand as a student-athlete and successful graduate, Crowell is eager to expand the university’s world-class educational opportunities and entrepreneurial spirit into West Palm Beach, which has rapidly emerged as an epicenter for financial services. As the financial sector continues to expand in West Palm Beach, this initiative represents a major step toward building a dynamic business ecosystem that integrates technology and finance. South Florida is now home to almost 20,000 financial services companies employing more than 250,000 people, with an active pipeline of jobs in private equity, venture capital, financial technology and investment banking.
“The landscape and community of West Palm Beach have changed dramatically in the last decade, with the growth of the financial industry and the arrival of young professionals eager for success and impact,” Crowell said. “This is the nation’s new financial hub, and this community and Vanderbilt are coming together at the right time to catapult both to global notoriety.”
Vanderbilt’s Global Strategy—The Next Step
The effort to develop a West Palm Beach campus is just the latest step in an overall growth strategy aimed to expand Vanderbilt’s reach, impact and reputation in the U.S. and worldwide—succinctly stated: bring the world to Vanderbilt and Vanderbilt to the world. As with each new development, the new campus will deepen the institution’s relationships in the Palm Beach region and across South Florida, while broadening opportunities for students, faculty, alumni and supporters.
Local population and economic growth have led to a surge in demand for higher education offerings in the area, particularly in the graduate business school arena. As a top-tier research university, Vanderbilt’s presence will add immense value to South Florida by addressing the unmet demand for local talent and serving as a catalyst for innovation and economic development.
Further, the university’s proven track record of local impact in Tennessee offers a blueprint for a deep, mutually beneficial relationship with the Palm Beach region. The West Palm Beach campus will anchor a vibrant mixed-use neighborhood, enhancing the area’s emergence as a desirable destination to live, work and play.
In fall 2024, government officials in the City of West Palm Beach and Palm Beach County unanimously granted seven acres of public-owned land for the location, further illustrating local support for the planned campus.
While specific academic programming is still in the planning stages and is subject to approvals by relevant education regulatory organizations, Vanderbilt plans to offer graduate programs in finance, AI, engineering and business innovation, meeting the needs of the growing industries in South Florida and building a connection between Nashville and West Palm Beach.
Intended to serve about 1,000 students annually once fully operational, the campus will focus on academic offerings that target the current growth in the area and provide a Vanderbilt-trained workforce—one with a world-class education, cutting-edge skills and hands-on experience—uniquely positioned to meet the region’s demand.
The campus will also house an on-site, state-of-the-art innovation hub, offering robust community engagement and access to an ecosystem of entrepreneurial energy and opportunity. An innovation center of this kind is revolutionary for Vanderbilt and the Palm Beach region, allowing entrepreneurs to benefit from a wealth of knowledge, resources and new sources of investment capital to fund pathbreaking discoveries.
Vanderbilt’s West Palm Beach campus will not only drive economic growth but also transform the city’s downtown into a regional hub for business, technology and finance. As a 21st-century center, it will bring high-quality education, research and events that energize the community. A leading university at the heart of this thriving environment will attract skilled professionals from around the world, fostering a robust pipeline of graduates and newcomers inspired by innovation and rapid advances in technology.
The campus will allow for executive education and skilled training programs to forge valuable partnerships between local businesses and the university, leading to stronger career advancement prospects for students and local residents.
With a history of partnership and leadership within the Nashville community, Vanderbilt will bring a variety of innovative initiatives tailored to the local market. Along with traditional graduate business programs and coursework, offerings available will include executive education, continuing education and lifelong learning opportunities, as well as immersive education experiences, local internship opportunities, and more for undergraduate students.
“We are planning a unique learning and research environment that nurtures collaboration and innovation,” Diermeier said.
Site planning and design are underway, with current plans providing more than 300,000 square feet of space, including the main academic building, the innovation hub and a parking garage.
Renderings unveiled in February reveal a campus, designed by Elkus Manfredi Architects, that’s aesthetically appealing and functional, projecting its own distinct identity while maintaining design principles that guide planning on the Nashville campus. Both campuses will feature networks of outdoor spaces that are informal and welcoming, attracting students to linger and engage with their surroundings.
A tropical arboretum, intentionally emulating Vanderbilt’s Nashville arboretum, will showcase an array of indigenous South Florida species. Visitors might expect to see slash pines reaching for the sky, vibrant Cherokee beans adding splashes of color and iconic sabal palms standing proud. Other native plants like sea grape, gumbo limbo and buttonbush will further enhance the connection to the South Florida environment.
“The arboretum—mirroring the arboretum on our Nashville campus—symbolizes our commitment to operate as One Vanderbilt, and our never-ending collective effort to dare to grow,” Diermeier said.
Dare to Grow
Visionary philanthropic partners such as Stephen Ross and Cody Crowell enhance Vanderbilt’s capacity to leverage the vibrant energy present in West Palm Beach, creating an unmatched educational and innovation opportunity for the region, with a ripple effect across various industries and communities. Charitable contributions from these lead donors and others will shape the future of West Palm Beach and the Palm Beach region and propel the remarkable momentum of Vanderbilt’s historic Dare to Grow campaign.
Broadly, support for the Dare to Grow campaign catalyzes some of the university’s most groundbreaking initiatives, including the Institute of National Security, Vandy United, Vanderbilt’s enhanced presence in New York City and West Palm Beach, signature programs like Opportunity Vanderbilt, residential colleges and many more.