The building NYU plans to renovate is currently leased by the Metropolitan Housing Authority and partially used by the NYPD, but NYU agreed to pay $50 million to move the MTA's equipment and employees elsewhere, according to the Times. In return, the school will receive $15 million in benefits like tax breaks and energy saves from the city. Construction won't be complete by fall 2013, but NYU will still hold classes at another location in Downtown Brooklyn.
“To get two for one out of the applied sciences proposal and to generate jobs and transform the keystone property in Downtown Brooklyn is a win-win of epic proportions," State Senator Daniel Squadron told the Times.
Meanwhile, NYU's Manhattan expansion plans aren't going over as swimmingly. The NYU 2031 Greenwich Village expansion plan conflict received a new development last week results from a poll that showed 58 percent of faculty members oppose the project in its current form.
[via The New York Times]