Pace University unveils $190M campus modernization plan

Pace University today announced $190 million plan to modernize and expand its Lower Manhattan campus.

The New York City Master Plan, which will be advanced in three phases, is  part of its 2015-2020 Strategic Plan: Opportunitas: Embracing the Future.

Over the past decade, enrollment at Pace in New York City has grown significantly, with an expanding faculty,  programs in business, the performing arts, the arts and sciences, technology, health care and  more.

Phase One of the modernization plan is a $45 million investment to transform over 55,000 s/f at One Pace Plaza and 41 Park Row, the University’s main academic buildings at the Lower Manhattan Campus. Phase One is the first step of a long-term campus revitalization plan that will directly address the need for additional student space.

Pace University

“Pace University is proud to be a longtime anchor of the Lower Manhattan community. Channeling our consistent growth and the transformation of the dynamic Lower Manhattan community, we are advancing an exciting plan that invests in our future by re-creating our campus to reflect the aspirations of our students,” said University President Stephen J. Friedman. “Our new plan embodies our enduring commitment to Opportunitas—educating the aspiring heart of America to thrive at Pace and in their professional lives.”

Last month, the Equality of Opportunity Project identified Pace University as the most effective higher education institution in New York—and second in the nation—at catapulting students from families in the bottom fifth of income distribution into the top 20 percent of earners in their early 30s.

The first phase of the Pace University master plan will transform One Pace Plaza, the University’s flagship academic building adjacent to City Hall, and the landmarked 41 Park Row, the home of The New York Times from 1889 to 1903.

Specifically, Phase One will involve a full redesign of One Pace Plaza’s first floor, lower level and courtyard entrance. The redesigned first floor will include a new welcome center, a new student center for hosting events, new student commons, collaborative learning spaces, and quiet study area. The new lower level will feature a branded entrance for the Lubin School of Business with dedicated student lounges, a student meeting room and a Lubin Learning Lab which will house innovative teaching and learning technologies.

Rendering by FXFOWLE

Rendering by FXFOWLE

Phase One will also involve a modernization of the lower levels of the landmarked 41 Park Row. The original entrance along Spruce Street, facing One Pace Plaza, will be restored. The first floor will house a new art gallery and new student commons. The second floor will an advising center, and new collaboration space for faculty and students.

The construction work on both buildings’ lower levels is scheduled to begin this summer and projected to finish in Fall 2018. FXFOWLE developed the master plan, guided by the principles of connecting Pace students to light and air, to the city, streets and views and to each other.

“Our goal was to create a master plan that matches the clarity and aspirations of Opportunitas: Embracing the Future,” stated Sylvia Smith, Senior Partner, FXFOWLE. “The plan responds to the needs of today’s learners, fosters an increased sense of community, and encourages engagement. We focused on student-centric solutions to activate, reveal and connect spaces and places at Pace.”

Sciame is construction manager for the project.

Pace University unveils $190M campus modernization plan : Real Estate Weekly