NYU May Grab Ground Zero Real Estate in its Plan to Expand by 40 Percent
NYU Vice President Lynne Brown requested a meeting with Lower Manhattan rebuilding officials to learn which downtown sites are available for the school's expansion, the New York Post reported today.
The already-giant university is planning to expand by 6 million square feet, about half in Greenwich Village and half in other areas of the city. Tower 5, which will be built in place of the former Deutsche Bank building, is the school's likely real estate target, according to the Post.
Tower 5 is expected to include 1.3 million square feet of space. The PA [Port Authority] is looking for a developer willing to build either an office tower or a combination hotel and housing high-rise on the site after it's cleared by the end of this year, which would fit in with NYU's plans.
NYU's 20-year growth plan would expand the university by 40 percent. It's not a shocker that the university has incredibly deep pockets, but this is still a huge move.
It seems NYU's growth plans will be an easy sell downtown.
Julie Menin, chairperson of downtown's Community Board 1, said a move by NYU to expand in lower Manhattan would find broad community support.
In 20 years, we'll be living in New York University City, and tuition will soar as high as Tower 5.