 In 1876 he founded the city of DeLand, Florida (which had been formerly called "Persimmon Hollow" for the persimmon trees that were abundant in the area).He intended for it to be known as the "Athens of Florida," and quickly founded the DeLand Academy, which soon became known as John B. Stetson University, after he persuaded his friend, the millionaire hatmaker John B. Stetson, to come to DeLand and invest in the institution.Around this same time, Henry DeLand suffered a severe financial loss in the freeze of due to guaranteeing orange crops anyone who would come to DeLand to grow oranges.