Former New York City Mayor Michael Bloomberg has donated $100 million to Cornell’s new tech campus on Roosevelt Island.


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Bloomberg struck a deal in 2011 to create the new school, which is expected to cost the university $2 billion over several decades.
Bloomberg News reports:

Bloomberg’s gift will help endow the first phase of construction at what will eventually be a $2 billion campus, including the Bloomberg Center, an academic building designed to be self-sufficient in energy use. It will be named after the former mayor’s daughters, Emma and Georgina, said Marc LaVorgna, his spokesman.

Cornell Tech is a venture of the Ithaca, New York-based university and Technion-Israel Institute of Technology in Haifa. One of the signature achievements of Bloomberg’s third four-year term as mayor, the project grew out of a competition among 17 universities to create a world-class applied-sciences school on city-owned land.

The New York Observer quoted several NYC officials who celebrated the deal:

“I hoped there would be a contribution from Bloomberg Philanthropies. I was surprised and thrilled with the magnitude of the contribution–it’s one of the biggest in our history,” David Skorton, the president of Cornell University, told the Observer.

Robert Steel, Mr. Bloomberg’s deputy mayor for economic development, was equally enthusiastic

“It’s a great next punctuation mark in the process,” he also told the Observer. “He’s a philanthropic guy.”

Read more in The New York Times.

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Jeff Stein

Jeff Stein is the founder and former editor of the Ithaca Voice.