It only took $145 million.

But after three years in the making, the Stephen M. Ross School of Business officially opened the doors to its new home last Friday at a ribbon-cutting ceremony.

Stephen M. Ross, after whom the building was named, counted down as he, President Mary Sue Coleman and Business Dean Robert Dolan stood on the steps of the new building and prepared to cut the blue ribbon emblazoned with the school’s name.

Ross’ $100 million donation funded the majority of the building’s construction — the largest single donation to the University in the school’s history.

As Ross counted down to zero, a roar of applause could be heard from the crowd of faculty, students and alumni who had gathered for the event.

The ribbon-cutting ceremony culminates many years of planning and construction that left the Business School community fragmented throughout campus.

“It creates a sense of community,” Business senior Josh Cipkala-Gaffin said of the building. “For the past few years our classes have been all over; now it is a one-stop shop.”

After the ribbon cutting, the crowd moved inside to hear remarks from Ross, Coleman and Dolan.

Ross spoke about his vision for the school, laughing when he referred to the building bearing his name.

“Today it is great to see what we set out to do,” Ross said. “We’ve created a home for the best business school in the world.”

The new building, located at 701 Tappan St., is laden with some of the most advanced technology around.

Coleman referred to the building as “a signature resource for the school.”

Dolan added that the new school will help to improve the level of education at the Business School.

“We have a distinctive approach to education based around action based learning and you need a different kind of facility to support that work,” Dolan said. “The amount of space dedicated to informal gathering right here in the Winter Garden and the number of group study rooms, that was really the kind of functionality that we didn’t have before.”

Ross said he believes the University business community will continue to rise to the occasion and become the global business school of the future.

However, Ross said that while the physical construction is complete, the school will not stop being innovative.

“The school will continue to build in order to make sure we are creating future leaders of the world,” he said.

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