1921 George William Coleman, a prominent Boston civic leader becomes the second President of the Babson Institute. The Commonwealth of Massachusetts incorporates the Babson Institute. Roger Babson purchases 69 acres of the Lyon Farm as a residential base for the campus. Alice Coleman becomes the first female member of the Board of Trustees. 1922 Boston Architect George F. Marlowe is hired to design the buildings and John Nolen is retained to design the campus grounds.
Construction begins on campus buildings.
The Commonwealth of Massachusetts for the purpose of furnishing education in all matters charters the Babson Institute. 1924 Peavey Gymnasium, named in honor of Babson Statistical Organization President Leroy D. Peavey, opens. The student body at Babson Institute numbers 37. The Coleman Map Building built to house the Great Relief Map and named after President Coleman is begun. There are 50 students enrolled at Babson Institute.