The capital budget is the multi-year plan that provides funding for the physical facilities and information technology infrastructure of NYU's Washington Square Campus.
In fiscal 2010, capital expenditures will total $593 million. Sources of funding include:
- Long-term financing for 79% of the total, or $470 million. (The University's ability to finance its capital program is facilitated by NYU's strong financial position, as recognized by the "double A" rating given to its bonds by Moody's and S&P.)
- Philanthropy and transfers from operating budgets make up the remaining 21%, or $123 million.
The capital budget is used for the following purposes:
- 58% of capital expenditures will be for improvements to, or new construction of, academic facilities.
- 25% of capital spending will purchase new, or improve existing, student housing and other facilities that house student services.
- 7% of the capital budget will be used to purchase new, and improve existing, faculty housing.
- 10% 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 $33 million dollars.
Selected Major Projects Funded in the Capital Budget
12th Street Residence Hall (opened September 2009)
Following the opening of the Gramercy Green residence hall last year, the University will complete the purchase in fiscal 2010 of a newly-constructed 735 bed residence hall on East 12th Street. The 12th Street hall has been leased by the University from the developer since December 1, 2008.
Silver Complex and Meyer Complex (FAS Science)
Renovation of laboratories, offices and administrative spaces.
Center for Genomics and Systems Biology
Reconstruction of 12-16 Waverly Place into a world-class biological sciences research facility.
Tisch School of the Arts Studios
Renovation of space in adjacent buildings on Broadway for use as performance and acting studios and as the home for musical theater writing.
Center for Academic and Spiritual Life
The new building, to be constructed at the corner of Washington Square South and Thompson Street, will include spaces for religious observance; offices for NYU's Chaplains' Circle; classrooms; music practice and rehearsal spaces; conference rooms; and by contract, space for independent use by the Archdiocese of New York from which NYU purchased the site. The Center for Academic and Spiritual Life 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.
Renovation of the ground level of 726-730 Broadway to consolidate the Universityis main and professional bookstores into new retail space.
School of Continuing and Professional Studies
Full renovation of the Fairchild Building — 7 East 12th Street Building — to accommodate use as classrooms, conference rooms, faculty offices and administrative space for the School of Continuing and Professional Studies.
Implementation of a new Student Information System and extension of wireless internet connectivity at multiple campus locations.
Steinhardt School of Culture, Education,
and Human Development
Renovation of space in the Third Avenue North Residence Hall for music instruction and in Kimball Hall for applied psychology.
School of Law
Extensive renovation of 22 Washington Square North to serve as the home for several faculty research centers. In addition, construction of the Wilf Center at 133-139 MacDougal Street to house additional faculty research centers, offices for faculty, and administrative space, while preserving the facade of the Provincetown Playhouse and reconstructing the interior theatre space.
General Purpose Classrooms
Renovation of approximately 30 existing general purpose classrooms in various buildings. This work is part of a multi-year investment to build new, and to renovate existing, general purpose classroom. (In fiscal 2009, the University created 13 new classrooms in Bobst Library, 5 new classrooms in Goddard Hall, and refurbished 11 general purpose classrooms in Tisch Hall.)
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.