PRINCETON, N.J. (CBSNewYork) — For the first time, Princeton University is naming a residential college after a Black woman.

A site once named for President Woodrow Wilson will be named after alumna, philanthropist and successful businesswoman Mellody Hobson.

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She and her husband, “Star Wars” creator George Lucas, through their foundation, donated the lead gift to Princeton for the new college, which will open in 2026.

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Hobson says she’s proud her name will help erase Wilson’s racist legacy.

“I was most compelled by the symbolism of a Black woman replacing the name of someone who would not have supported my admission three decades ago and what that would represent for future generations,” Hobson said.

Hobson, who is also a CBS News financial contributor, says she wants all students who enter that building to feel like they belong.

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