The capital budget provides funding for the University’s physical facilities and information technology infrastructure.
In fiscal 2012, capital expenditures will total $213 million. Sources of funding include:
- Long-term financing for 30% of the total, or $64 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 70%, or $149 million.
The capital budget is used for the following purposes:
- 52% of capital expenditures will be for improvements to, or new construction of, academic facilities
- 8% of capital spending will purchase new, or improve existing, student housing and other facilities that house student services
- 13% of the capital budget will be used to purchase new, and improve existing, faculty housing
- 27% of the capital budget will be used for campus infrastructure and various information technology initiatives
- Spending for capital maintenance to keep all University buildings in good repair is included in each of the four categories above, and totals $34 million dollars.
* All parts of New York University other than the NYU Langone Medical Center (i.e., the School of Medicine and the Hospitals) and NYU Polytechnic Institute.
Selection of Major Projects Funded in the Capital Budget
Center for Academic and Spiritual Life
Currently under construction at the corner of Washington Square South and Thompson Street, the Center for Academic and Spiritual Life will include spaces for religious observance; offices for NYU’s Chaplains’ Circle and the Archdiocese of New York owned Catholic Center; classrooms; music practice and rehearsal spaces; and conference rooms. The Center will provide a communal home for NYU students’ religious and spiritual lives, as well as provide additional academic space in the core area of the Washington Square campus. Construction is scheduled for completion in Spring 2012.
Faculty of Arts and Science
Design for the construction of laboratories, offices and administrative spaces in at 726-730 Broadway to support growth and enhancement for Physics research and instruction.
Steinhardt School of Culture, Education, and Human Development
Full renovation of the East Building at 239 Greene Street to accommodate classrooms, conference rooms, faculty offices and administrative space for the Steinhardt School of Culture, Education, and Human Development. Construction is scheduled for completion in Fall 2013.
School of Continuing and Professional Studies
Full renovation of the 7 East 12th Street Building to accommodate classrooms, conference rooms, faculty offices and administrative space for the School of Continuing and Professional Studies.
Full renovation of floors 4 and 5 in the Bobst Library for enhancement of teaching, research, study areas, and reference services.
Academic Resource Center
A cluster of academic support services in a central, highly visible location (Ground floor of the East Building, former University Bookstore). Consolidates the Opportunities Program, College Learning Center and General Purpose Classrooms and includes space for a food service vendor.
Global Site in Washington, DC
Land acquisition, design and construction of a new 75,000 GSF, mixed-use building on a vacant lot at 1307 L Street NW in Washington, DC. Nearly 60% of the building will be dedicated to residential life and 40% to academic program use. The building will play host to NYU in DC and the Global Network University through FAS programs in Art History/Urban Design/Architecture, Economics, English, Environmental Studies, History, Journalism, Politics, and Metropolitan Studies. Construction is scheduled for completion in Fall 2012.
Various Capital Maintenance Projects
These projects include repairs to building facades, roof replacements, installation of sprinklers, replacement and upgrades of HVAC systems, sidewalk replacements, etc.
On-going implementation of new, and upgrade of existing, campus-wide systems for: academic, research and instructional support; administrative services; and network infrastructure.