Steve Cohen and his wife, Alexandra, have pledged $116.2 million to LaGuardia Community College in Queens to create a vocational training center, the largest-ever gift to a U.S. community college.
The donation marks the biggest contribution by the Steve & Alexandra Cohen Foundation, which has given away more than $1.2 billion in total including $185 million in Queens. It’s also the largest-ever gift to the City University of New York system.
Cohen, 67, is the founder of hedge fund Point72 Asset Management and the owner of the New York Mets, who play at Citi Field in Queens. He’s currently seeking a license to build an $8 billion casino and entertainment complex in the borough. Cohen has a net worth of $13.9 billion, according to the Bloomberg Billionaires Index.
Alexandra Cohen runs the foundation and approached LaGuardia with the the idea for the project, according to a spokesperson.
“I wanted to create a place where students have access to high-quality programs and facilities and can learn the skills they need to succeed in a rapidly changing world,” Alexandra Cohen said in a statement. “We are proud to create the Cohen Career Collective and are committed to our neighbors here in Queens.”
The grant will create a 160,000-square-foot facility offering associate degrees and other credentials for jobs in health care, construction, technology, film and television, and other sectors. It will also offer support services such as interview prep, childcare and financial literacy education. It’s expected to be built by 2029.
“LaGuardia Community College, CUNY, and New York’s economic prosperity depends on a well-educated and highly trained workforce, and this historic gift will position CUNY as the leader in workforce development,” said William C. Thompson, chairman of the CUNY Board of Trustees.
Cohen is seeking one of three available licenses to construct a full-scale casino in downstate New York. In order to get the license, he must win over Queens residents and lawmakers whose approval is necessary for the bid to advance. To secure their support, he has spent the last two years waging a multi-pronged, multi-million-dollar charm offensive, hiring nearly two dozen lobbyists and holding dozens of “listening sessions” to hear community concerns.
Amanda Gordon, Bloomberg , 2024-03-20 19:50:54
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