Capital Budget

Funding Physical Facilities and Information Technology Infrastructure

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

In fiscal 2018, budgeted capital expenditures total $738 million. Sources of funding include:

  • Long-term financing accounts for 69% of the total, or $510 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 Aa2 and AA-, respectively. In May 2017, Moody's raised NYU's rating to Aa2 from Aa3.
  • Philanthropy, government grants, and transfers from operating budgets make up the remaining 31%, or $228 million

The capital budget is used for the following purposes:

  • 53% of capital expenditures will be for improvements to, or new construction of, academic facilities
  • 19% of capital spending will purchase new, or improve existing, student housing and other facilities that house student services
  • 6% of the capital budget will be used to purchase new, and improve existing, faculty housing
  • 22% of the capital budget will be used for campus infrastructure, including various information technology infrastructure initiatives.
  • Spending for capital maintenance to keep all University buildings in good repair is included in the campus infrastructure category above, and totals $59 million dollars.

Fiscal 2018 Capital Budget

Fiscal 2018 Capital Budget Pie Chart

Fiscal 2018 Capital Budget Legend

Selection of Major Projects Funded in the Fiscal 2018 Capital Budget

181 Mercer Street – Mixed-Use Building

181 Mercer Street is a new mixed-use building to be developed 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 735,000 square feet, includes the following spaces:

  • 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 that will accommodate approximately 415 beds within a residential college model + a new dining facility
  • Approximately 55-60 classrooms and student study spaces throughout the building
  • Roughly 32 to 60 faculty apartments, depending on size
  • A new athletic and recreation center, including a gym space designed to accommodate large functions with up to 2,300-3,000 persons

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 has been demolished to grade. Excavation work is in progress and the building is expected to be finished in 2022.

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370 Jay Street – Mixed-Use Academic Building

The initial phase of construction that includes façade restoration, window replacement, and mechanical and telecommunications infrastructure is nearly complete. The first occupants will move in by November 2017 and full occupancy is expected by summer 2019. The building will contain Academic departmental and research space, classrooms, a 200 seat lecture hall, flexible digital media studios, and ground floor retail. Occupancy of the 500,000 square foot building will be as follows:

  • Media, Arts and Games Network (MAGNET)
    • Tisch School of the Arts (TSOA) Clive Davis Institute of Recorded Music
    • TSOA Interactive Telecommunications Program (ITP)
    • TSOA Interactive Media Arts (IMA)
    • TSOA NYU Game Center
    • Tandon School of Engineering Game Innovation Lab
    • Tandon School of Engineering Integrated Digital Media (IDM)
    • Steinhardt Educational Communication and Technology
    • Steinhardt Music and Audio Research Laboratory (MARL)
  • Center for Urban Science and Progress (CUSP)
  • Tandon departments of Computer Science and Engineering (CSE), and Electrical and Computer Engineering (ECE)
  • Institute for the Study of Decision Making (ISDM)
  • Ability Project (interdisciplinary Tandon, TSOA and Steinhardt)

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708 Broadway/404 Lafayette – College of Global Public Health

The first permanent home of the College of Global Public Health will be located at 708 Broadway/404 Lafayette. Design is in process, and the complete building renovation including new infrastructure and mechanical systems is expected to be ready for occupancy for the 4th quarter of calendar year 2019. The 113,000 square feet of newly renovated space will provide the College with departmental office space, research space, multi-purpose student space, and conference/training rooms.

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707 Broadway and 2-6 Washington Place (Meyer Building) – Neuroscience

The first phase of renovations - covering the 7th floor of 707 Broadway, as well as a new MRI Scanner on the first floor - has been completed. The second phase of work, to take place on the 6th-9th floors of 2-4-6 Washington Place will include 34,700 square feet of research labs and offices for the Center for Neuroscience. The vivarium, which now holds approximately 1,000 animals, including 65 primates, is also planned to be expanded by 5,000 square feet – a 40% increase over its current size. Construction is will begin in the winter 2018.

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6 Metrotech Center (Rogers Hall) – 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 includes extensive infrastructure upgrades, with later phases focusing on the modernization of research and teaching labs and faculty offices. By the conclusion of construction, nearly every Tandon faculty office, laboratory and classroom in Rogers Hall will be new or renovated, and there will be room for further growth of 15 faculty. Projects will be phased by floor and department, with various completion and occupancy dates over the next number of years.

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Bonomi Admissions Center

The new Bonomi Admissions Center will open later this year on the ground floor of 25 W. 4th Street. The new space includes a presentation and event room that will double the seating capacity (to nearly 200) for Admissions presentations to prospective applicants and their families, compared to the current location on the ground floor of Shimkin Hall. The space is flexibly designed for receptions, admission fairs, pre-departure study away orientations, etc. The space also includes a number of admissions counselor’s offices and a generous pre-function room where parents and prospective applicants will congregate and can view materials about NYU while waiting for presentations.  

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Various Capital Infrastructure Projects

These projects include repairs to building facades, roof replacements, installation of sprinklers, replacement and upgrades of HVAC systems, sidewalk replacements, information technology networks, etc.

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