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Capital Budget

The capital budget provides funding for the University’s physical facilities and information technology infrastructure.

In fiscal 2014, budgeted capital expenditures total $418 million. Sources of funding include:

  • Long-term financing for 51% of the total, or $214 million. (The University’s ability to finance its capital program is facilitated by NYU’s strong financial position, as recognized by ratings on NYU’s general obligation unsecured debt from Moody’s and S&P of Aa3 and AA-, respectively.)
  • Philanthropy, government grants, previously funded capital project accounts, and transfers from operating budgets make up the remaining 49%, or $204 million.

The capital budget is used for the following purposes:

  • 68% of capital expenditures will be for improvements to, or new construction of, academic facilities: classrooms, laboratories, and faculty offices.
  • 10% of capital spending will purchase new, or improve existing, student housing and other facilities that house student services.
  • 11% of the capital budget will be used to purchase new, and improve existing, faculty housing.
  • 11% of the capital budget will be used for campus infrastructure, including campus networks and other information technology investments.
  • Spending for capital maintenance to keep all University buildings in good repair is included in each of the four categories above, and totals $53 million dollars.

Fiscal 2014 Capital Budget

*All parts of the University other than the NYU Langone Medical Center

Selection of Major Projects Funded in the Capital Budget

Nursing, Dental and Bio-engineering

Currently under construction at 433 1st Avenue (between East 25th and East 26th Streets), a new building will become the home for the College of Nursing and the NYU Bio-Engineering Institute. The College of Dentistry will also occupy substantial space in the building, which will contain classrooms, laboratories, academic and administrative offices, and a shared learning commons. Occupancy is planned for Spring 2015.

Faculty of Arts and Science

Construction of new research laboratories, offices and administrative spaces at 726-730 Broadway for the Physics Department will commence in fiscal 2014, with occupancy planned for Fall 2015.

Planning and design are underway for the Center for Neural Science and the Department of Social Psychology to have new and renovated classrooms, laboratories, and faculty offices in the Meyer Building.  The project is tentatively expected to be completed and the space to be fully occupied by Fall 2016, with phased move in prior to this date.

Center for Urban Science and Progress (CUSP)

Design is underway for the full renovation and fit-out of 370 Jay Street, a 440,000 square foot building in the MetroTech section of Brooklyn. When construction is completed and the building is occupied in 2017, CUSP will occupy 150,000 square feet. Current plans call for a start-up incubator to occupy 40,000 square feet, with the rest of the building occupied by commercial tenants, and NYU administrative offices to be relocated from leased spaced.

Student Service Center Center

A new student service center will be housed within the existing building at 383 Lafayette Street. In-person services of the Registrar, Bursar, Office of Financial Aid, Office of Global Services, and Student Housing will be co-located on the ground floor, while the upper floors will be fully renovated to accommodate staff offices for the Office of Admissions and the Office of Global Services.

Various Capital Maintenance Projects

Capital maintenance projects across the University include repairs to building facades, roof replacements, installation of sprinklers, replacement and upgrades of HVAC systems, sidewalk replacements, etc.

Information Technology

Continued capital investment in information technology equipment and systems is required to ensure that all University campuses and global locations have the reliable bandwidth and systems to support the high demands from faculty, students and staff for academic, research and administrative computing and communications.

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