Jewish billionaire Bill Ackman is investing $260 million to build a new brain research campus in Manhattan after his daughter, Lucy, suffered a life-threatening brain hemorrhage earlier this year. The project will be developed in partnership with Mount Sinai and will focus on advancing treatments for brain diseases and neurological disorders

Ackman’s Pershing Square Foundation purchased a 400,000-square-foot life sciences building for $188 million and signed a deal to acquire a neighboring property for another $70 million. Together, the sites will become a 700,000-square-foot research campus called the Ackman Oxman Institute, named after Ackman and his wife, Neri Oxman.

Ackman said the institute was inspired by personal family experiences. His 26-year-old daughter was found unconscious after suffering a brain hemorrhage and has since made significant progress thanks to advanced medical treatments. Oxman also lost her mother to Alzheimer’s disease, further motivating the couple to invest in brain research.

The new institute aims to bring together leading scientists, doctors, and researchers to accelerate breakthroughs in brain health, helping develop better treatments for conditions such as Alzheimer’s, stroke, traumatic brain injuries, and other neurological diseases.