The capital budget funds the University’s physical facilities and information technology infrastructure.
In fiscal 2013, capital expenditures will total $291 million. Sources of funding include:
- Long-term financing for 50% of the total, or $145 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 50%, or $146 million.
The capital budget is used for the following purposes:
- 61% of capital expenditures are for improvements to, or new construction of, academic facilities
- 20% of capital spending is to improve student housing and other facilities that house student services
- 10% of the capital budget is for the improvement of faculty housing
- 9% of the capital budget will be used for campus infrastructure, including a new co-generation plant 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 $47 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
Nursing, Dental and Bio-engineering – New Building at 433 First Avenue
Currently under construction on 1st Avenue between East 25th and East 26th Streets, the new 170,000 GSF building will become the home and center for academic excellence of the College of Nursing. The building will also provide new laboratories and faculty offices for the College and Dentistry, and house laboratories for a new NYU Bio-engineering Institute. Construction is scheduled for completion in January 2015.
Faculty of Arts and Science (FAS)
Renovate 63,000 GSF of space at 726-730 Broadway for new laboratories, offices and administrative spaces to provide a new home for the Department of Physics.
Steinhardt School of Culture, Education and Human Development
Full renovation of the East Building at 239 Greene Street to accommodate classrooms, conference rooms, and faculty offices for the Steinhardt School of Culture, Education, and Human Development. Construction is scheduled for completion in Fall 2013.
Center for Urban Science and Progress (CUSP) – Phase 1 Development
CUSP, a winner of New York City’s, Applied Sciences NYC initiative, will conduct research, support graduate study, and fashion real-world technologies to address the challenges of an increasingly urbanized planet. Beginning with the renovation and fit-out of research labs, classrooms, and academic and administrative offices at MetroTech in downtown Brooklyn, CUSP will welcome its first class of graduate students upon completion of this Phase 1 development in Fall 2013.
Integrated Digital Design Center
A new multi-school facility, also located at MetroTech in Brooklyn, for digital design that will co-locate selected research, graduate and undergraduate programs of the Tisch School of the Arts, the Steinhardt School of Culture, Education, and Human Development, NYU-Poly, and the Courant Institute of Mathematical Sciences
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.
Ongoing implementation of a new University-wide human resources system, continued expansion of the NYU wireless network, and new technology investments to ensure the successful evolution and implementation of the Global Network University model. These new investments include:
- Instructional technology resources to support faculty in their development of innovative curricula;
- IT infrastructure investments for availability of selected University-wide systems around the clock throughout the year; and
- IT investments that will enable NYU's Global sites to interact more readily with all of the University's technology-supported services.