This study examines Latina/o student perceptions of the campus climate at an emerging Hispanic-Serving Institution (HSI) with attention to how external factors (sociohistorical and local contexts) inform these views. Through focus groups, the findings show that Latina/os students' positive and negative views of the climate are shaped by their racialized experiences on and off campus. As emerging HSIs consider how to more intentionally serve a growing Latina/o student body, leaders at these institutions must be particularly attune to external contexts since the climate on campus can either perpetuate or actively counter negative racialized experiences among Latina/os.