Complex sentence: A clock tower on the VU campus commemorates that event and the fraternity, despite having grown into one of the largest collegiate fraternities and having relocated its headquarters to Tennessee, recognizes VU as its birthplace.
Split into simpler sentences: A clock tower on the VU campus commemorates that event. The fraternity has since grown into one of the largest collegiate fraternities and, despite having relocated its headquarters to Tennessee, recognizes VU as its birthplace.