A Havertown native is giving historic $112.6 million to Drexel, months after his record gift to St. Joe’s Prep

Drexel University has received a $112.6 million gift — the largest in its history by more than double — to establish its new college of engineering and computing, renovate space in two buildings to foster programs within it, and provide more scholarships.

The gift comes from The Howley Foundation, a Cleveland-based philanthropic group whose mission, according to its website, is “to create social and economic mobility and improve lives” through “quality educational opportunities.”

The foundation is headed by billionaire W. Nicholas “Nick” Howley, a 1975 Drexel graduate, his wife Lorie and their daughter Meg Howley, a 2010 Drexel graduate. Nick Howley, who got his degree in mechanical engineering, is the co-founder and board chairman of TransDigm Group Inc., a Cleveland based aerospace parts manufacturer.

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The same foundation in April gave a $74 million gift to St. Joseph’s Preparatory School, also Howley’s alma mater, which school officials believe was the biggest donation ever given to a U.S. Catholic high school.

The new school, which will be Drexel’s largest, will be named for the Howley family. It will be made up of the School of Engineering, School of Computer and Information Sciences, and School of Biomedical Engineering and Science, which merged earlier this year as part of a consolidation and academic overhaul.

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Drexel made the announcement Thursday morning, with commencement scheduled for later in the day at the West Philadelphia university. It’s the first major gift to come to the university under President Antonio Merlo, who took over last July.

Drexel’s previous largest gift, $50 million, came from Thomas R. Kline in 2014 to name its law school.

“This investment is a powerful affirmation of Drexel’s strength and leadership in fields where innovation and impact are deeply intertwined,” Merlo said in a news release. “It will not only bring excitement and a new look to our campus, but it will also provide generations of students with access to state-of-the-art facilities, as well as set them on course for a transformational educational experience at Drexel.”

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The gift also comes as the university has been belt tightening and aiming to reduce a deficit. Drexel is projected to continue to run deficits through fiscal year 2028, according to a report from Moody’s, which downgraded the aschool’s rating earlier this year. And last fall, Drexel experienced a 19% drop in the size of its freshman class.

But Merlo in a message to campus last week said the university has seen a 16% increase in students indicating they will attend next fall. And the university is preparing to launch its “renewed curriculum” and change to semester calendar.

“I am filled with optimism about what lies ahead for our students and our institution,” Merlo wrote.

About $76 million of the Howleys’ gift will fund programs and scholarships for talented students from certain schools primarily in Philadelphia and Cleveland who enroll at Drexel, regardless of their financial circumstances.

The other $36 million will fund about 55,000 square feet of classroom, lab, and other learning spaces in Drexel buildings along Market Street and JFK Boulevard. That includes more than 45,000 square feet in Drexel’s 3101 Market St. facility that will become the Howley Family Immersive Learning Center and include a robotics facility, a flight simulator, a jet engine lab, a soil and concrete analysis lab, and wet labs for chemical engineering, materials science, and cell and gene therapy education.

The other 10,000 square feet will become the Walter N. Howley Jr. Innovation garage, named after Nick Howley’s father, who got his bachelor’s in commerce and engineering from Drexel in 1951. The space at 32nd and Market Street will feature work in bays by engineering and computing student organizations, the school said. Students, the university said, will be able to build race cars, electric vehicles and scale airplanes, as well as rockets, steel bridges, and concrete canoes to enter in national competitions.

Construction will begin on both spaces in spring 2027, the school said.

“I am proud to support Drexel’s mission as a global leader in experiential education,” Howley said in a news release. “The university’s model provides a true return on investment for all students who earn a Drexel degree and I believe it is the best way to encourage upward social and economic mobility.

“The combination of its academic rigor and co-op program make Drexel’s a unique educational experience that goes farther than any other university in propelling its graduates toward their career objectives.”

In addition to his role at TransDigm Group Inc., Howley, who grew up in Havertown and now lives in Ohio, is also a founder and co-chair of Perimeter Solutions, which provides industrial products and services in areas including firefighting materials, lubricant additives, electronic components and medical devices. Howley, who also has MBA from Harvard Business School and is a member of Drexel’s board of trustees, previously donated $15 million to Drexel for scholarships.

Lorie Howley, who got her degrees in ornamental horticulture and communication arts from Cornell University, worked as an educator at Longwood Gardens for 15 years. She is co-founder of the Howley foundation and is on its board of directors.

The Howleys’ daughter Meg, who got a master’s degree in psychology from Drexel, is executive director for the foundation’s Philadelphia operations. She got her undergraduate degree in psychology from Hobart and William Smith Colleges, and a master’s in school psychology and educational specialist certification from Rowan University.

Part of the gift will be used to create an endowment for the new college to help it attract students and faculty. The college will enroll about 5,000 students in more than 60 undergraduate and graduate degree programs, including its new undergraduate degree in artificial intelligence and machine learning.