Capital Budget
Funding Physical Facilities and Information Technology Infrastructure
The capital budget provides funding for the University’s physical facilities and information technology infrastructure. The budget focuses on the completion of four priority projects (detailed below) in addition to prioritizing campus infrastructure life/safety projects and required IT investments.
In fiscal 2022, budgeted capital expenditures total $661 million. Sources of funding include:
- Long-term financing accounts for 43% of the total, or $284 million. The University’s ability to finance its capital program is facilitated by NYU’s market access, as recognized by ratings on NYU’s general obligation unsecured debt from Moody’s and S&P of Aa2 and AA-, respectively.
- Philanthropy, government grants, and transfers from operating budgets make up the remaining 57%, or $376 million.
The capital budget is used for the following purposes in fiscal 2022:
- 35% or $233 million of capital spending will be for improvements to, or new construction of, academic facilities
- 35% or $230 million will be used for campus infrastructure, including information technology infrastructure initiatives
- Spending for capital replacement to keep all University buildings in good repair is included in the campus infrastructure category above, and totals $98 million
- 20% or $135 million will improve existing student housing and other facilities that house student services
- 10% or $63 million of the capital budget will be used to improve existing faculty housing
Selection of Major Projects Funded in the Fiscal 2022 Capital Budget
181 Mercer Street – Mixed-Use Building
181 Mercer Street is a new mixed-use building under construction at the site of the former Coles Sports and Recreation Center on Mercer Street between Bleecker and Houston Streets in Manhattan. The building, which is approximately 745,000 square feet, will include the following spaces:
- 58 general purpose classrooms and a variety of active and quiet student study spaces throughout the building
- A 350-seat proscenium theater designed for both Tisch and Steinhardt’s needs with required ancillary spaces
- Teaching theaters and practice rooms with supporting spaces for Tisch and Steinhardt’s performing arts programs
- Student housing that will accommodate approximately 415 beds within a residential college model and a new dining facility
- 42 faculty apartments
- A new athletic and recreation center, including a gym space designed to accommodate large functions with up to 2,700 persons in a convocation setting
The building will represent design excellence while achieving the academic and programmatic goals of the University. The previous Coles building was closed in February 2016 and the building demolished. The building exterior is completed. Core and shell and fit out work continues to progress. The new building is expected to open and be occupied for fall semester of 2022.
Silver Complex and 25 West 4th Street – Chemical Biology
Plans are underway to significantly enhance and expand Chemical Biology in the Faculty of Arts and Sciences across three core areas: Cancer Chemical Biology, Chemical Neuroscience, and Molecular Spectroscopy and Imaging. Highly collaborative and interdisciplinary, Chemical Biology is a rapidly growing and wide-ranging field of study at the interface of chemistry and biology that employs chemical techniques to understand complex biologic systems at the molecular level. Once complete, the multi-year renovations for Chemical Biology will have added and improved approximately 115,000 square feet of laboratory, academic and departmental administrative space across four buildings in NYU’s science core. Fiscal 2022 funded projects include:
- Silver Building Floors 9/10: Renovation of approximately 30,000 SF on the 9th and 10th floors to provide Chemical Biology research lab facilities. The renovation will provide approximately 30 eight-foot fume hoods per floor, instrumentation labs, tissue culture rooms, BioSafety Level 2 labs, cold rooms, microscopy rooms, lab support space, offices, and workstations for graduate students. New HVAC, electrical, plumbing, and lighting with provisions to meet LEED Silver certification will be provided.
- 25 W 4th Street: Renovation of approximately 43,000 SF on floors 2 through 6 in addition to the building lobby to provide the new home for the College of Arts and Science (CAS) which is relocating from Silver floors 9 and 10 to accommodate the planned Chemical Biology labs. The building will house CAS’s administrative offices, extensive advising operations, space for student meetings, and space for the affiliated University Learning Center. The project is intended to meet NYU’s sustainability goals and achieve a minimum of LEED Silver.
Rogers Hall (6 Metrotech Center) – Tandon School of Engineering Master Plan
Tandon’s 352,000-square-foot Rogers Hall houses several of Tandon departments, including Chemical and Biomolecular Engineering, Civil and Urban Engineering, and Mechanical and Aerospace Engineering. The building also contains many classrooms and teaching lab spaces. The initial phase of work included extensive infrastructure upgrades, with later phases focusing on the modernization of research and teaching labs and faculty offices, including in the area of Biomolecular Engineering. By the conclusion of construction, nearly every Tandon faculty office, laboratory and classroom in Rogers Hall will be new or renovated. Projects will be phased by floor and department, with various completion and occupancy dates over the next number of years.