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Pace University launches $190M expansion effort in the Financial District

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In the first phase of expansion, Pace will spend $45M on two existing buildings

Wally Gobetz/Flickr

Pace University is set to embark on a $190 million renovation and expansion effort, further adding to the construction boom taking place in the Financial District, and the immediate area around the university.

In the first phase of this renovation plan, the University will spend $45 million on upgrading its main campus building, One Pace Plaza, and the nearby 41 Park Row. The design overhaul is being spearheaded by FXFOWLE, and as part of the transformation One Pace Plaza will get a fully redesigned first floor, which will come with a new student center, a welcome center, collaborative learning spaces, and a quiet study area.

On the lower level, the University is creating a new entrance for their business school—The Lubin School of Business, and also adding in a learning lab (for new technologies) for that school along with student lounges, and a meeting room.

At 41 Park Row, which was briefly the home of the New York Times at the turn of the 19th century, the University plans to restore an original entrance to that building on Spruce Street, add an art gallery on the first floor, and a collaborative space for students and faculty on the second floor.

“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,” Stephen J. Friedman, the president of the University, said in a statement.

Pace now joins the biggest college campuses in the city like Columbia University and New York University, which are also in the midst of massive expansion efforts.

On a more local level, Pace joins all the construction activity happening in the immediate area including the COOKFOX tower replacing the J&R flagship store, and the recently opened Beekman Hotel.