Downtown Brooklyn-NYU Deal: Victory Lap Edition

McBrooklyn put up the fine montage you see above of photos and renderings showing the present and future of 370 Jay Street in Downtown Brooklyn, which NYU will transform into a tech-oriented campus, as covered yesterday. The Eagle fleshes out details on the deal: The school will be known as the NYU Center for Urban Science and Progress, or CUSP. And what’s more? According to the Eagle: “This would be a partnership between NYU and several other universities worldwide — City University of New York, Carnegie Mellon University, University of Toronto, University of Warwick and Indian Institute of Technology Bombay – as well as IBM and Cisco. The school would accommodate approximately 530 graduate and doctoral students, as well as 50 full-time faculty and about 30 post-doctoral researchers, Bloomberg said. While the renovated building is not expected to be ready for use until 2017, classes are scheduled to begin next year at Metrotech. IBM and Cisco will each provide $1 million a year, and four other founding corporate partners — Con Edison, National Grid, Seimens and Xerox — will each assist with $500,000 a year in cash and in-kind services. NYU will be responsible for the $60 million that it will take to relocate NYC Transit and police department equipment within the building. A portion of the building will be demolished, and a six-story annex for lab space will be constructed.” Meanwhile, the Post has some more details about the project, noting the city will put $15 million toward the project: “The venture is slated to produce 2,200 immediate construction jobs and 900 permanent jobs at the school. But the city projects it will create a total of 7,700 jobs over the next 30 years, including school positions and those created by a projected 200 spin-off companies expected from the program. In total, it will generate more than $5.5 billion in economic activity and $597 million in tax revenue, Bloomberg said.” Job creation stats and growth forecasts like this are often slightly grandiose. But you know what? Hell yes! Finally, the underused eyesore at 370 Jay will be put to good use and completely change the landscape of Downtown Brooklyn.
New Engineering, Science Campus Coming to 370 Jay Street in Downtown Brooklyn [McBrooklyn]
‘Game Changer:’ After Years of Talk, High-Tech Rehab OK’d for 370 Jay St. [Eagle]
CUSP of Greatness: Deal for NYU Engineering School [NY Post]
HOLY COW! NYU Deal for 370 Jay is Happening! [Brownstoner]
Rendering montage via McBrooklyn