A faculty-led NYU working group has called on the university to be bolder in its immediate expansion plans, citing a need for more classrooms, arts space and faculty housing.
The NYU Space Priorities Group’s final report proposes to create between 817,000 and 899,000 s/f of academic space and housing on the site of the current Coles Sports Center at 181 Mercer Street.
So far, the university’s capital spending and financing plan has budgeted with a 670,000 s/f building at a cost of $727 million on the site. Zoning allows for construction of up to 980,000 s/f.
The working group estimates that additional space will lead to added construction costs between $128 million and $201 million — keeping the development’s total cost just below $1 billion.