City Room reports:

“New York University has struck a deal with city officials that clears the way for it to create an applied-science research institute in Downtown Brooklyn. In an agreement to be announced Monday afternoon by Mayor Michael R. Bloomberg, a consortium of universities led by N.Y.U. will set up the Center for Urban Science & Progress at 370 Jay Street, a building now leased from the city by the Metropolitan Transportation Authority. N.Y.U. has agreed to pay $50 million toward the cost of moving the transit authority’s equipment and employees out of the building, which the school plans to gut and renovate. In exchange, the city has agreed to provide $15 million in benefits, including breaks on taxes and energy costs, to the school. N.Y.U. proposed creating the school in Brooklyn in the competition the city held for establishing a new school of applied sciences. Cornell University’s proposal for a campus on Roosevelt Island was chosen as the winner of that prize, which included $100 million in subsidies from the city.”

More to follow, of course, but the article reports that the building renovation will take a few years and that NYU will start having classes elsewhere in Downtown Brooklyn in the fall.
N.Y.U. to Create Research Institute in Brooklyn [City Room]


What's Your Take? Leave a Comment

  1. Agreed with earlier comments – huge news for Brooklyn, will assist the boro in every way from office space utilization, to housing to employment.
    – NYU is getting ripped off BTW but if they are ok with it, so am I.

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