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Pace University announced yesterday it has signed an agreement with SL Green Realty Corp., a real estate investment trust that is Manhattan's largest commercial office landlord, to construct a new 24-floor residence hall for students living on the University's downtown Manhattan campus. The new hall will be at 180 Broadway at the corner of John Street, five blocks south of City Hall.
The building will fulfill an objective of the University's five-year strategic plan, developed under President Stephen J. Friedman, to put all Pace's downtown students within a five-minute walk from the campus. Though Pace began 104 years ago as a commuter school, more than half its undergraduate students now live on campus.
"This new residence hall will be a major enhancement for generations of Pace students who value the experience of living and learning in lower Manhattan," said William McGrath, Pace's Senior Vice President and Chief Administrative Officer.
The new hall will replace the roughly 600 beds the University currently leases in Brooklyn Heights.
Other University residences downtown are at 55 John Street, 106 Fulton Street, and in the University's multi-function building at 1 Pace Plaza, just east of City Hall.
The construction is part of a new University-wide master planning effort for Pace.
In Westchester County, an undergraduate and graduate campus in Pleasantville also is slated for consolidation and redesign.
The University has a law school and graduate center in White Plains, and holds classes in the Fred R. French building at 551 Fifth Avenue.
SL Green is conveying a long-term ground lease condominium interest to Pace for the residence hall portion of the building, for which demolition has already commenced. Current plans call for the new hall to open in 2013.
Karl Fischer Architect from Montreal, Canada, with offices in New York City, is the architect for the project.
Retail spaces will occupy the new building's first three floors, and one of its higher floors will be reserved for student activities and amenities.
As of September 30, 2010, SL Green owned interests in 30 New York City office properties totaling approximately 22,324,460 square feet, making it New York's largest office landlord.
The building will fulfill an objective of the University's five-year strategic plan, developed under President Stephen J. Friedman, to put all Pace's downtown students within a five-minute walk from the campus. Though Pace began 104 years ago as a commuter school, more than half its undergraduate students now live on campus.
"This new residence hall will be a major enhancement for generations of Pace students who value the experience of living and learning in lower Manhattan," said William McGrath, Pace's Senior Vice President and Chief Administrative Officer.
The new hall will replace the roughly 600 beds the University currently leases in Brooklyn Heights.
Other University residences downtown are at 55 John Street, 106 Fulton Street, and in the University's multi-function building at 1 Pace Plaza, just east of City Hall.
The construction is part of a new University-wide master planning effort for Pace.
In Westchester County, an undergraduate and graduate campus in Pleasantville also is slated for consolidation and redesign.
The University has a law school and graduate center in White Plains, and holds classes in the Fred R. French building at 551 Fifth Avenue.
SL Green is conveying a long-term ground lease condominium interest to Pace for the residence hall portion of the building, for which demolition has already commenced. Current plans call for the new hall to open in 2013.
Karl Fischer Architect from Montreal, Canada, with offices in New York City, is the architect for the project.
Retail spaces will occupy the new building's first three floors, and one of its higher floors will be reserved for student activities and amenities.
As of September 30, 2010, SL Green owned interests in 30 New York City office properties totaling approximately 22,324,460 square feet, making it New York's largest office landlord.
Architecture Critic
Carter Horsley
Since 1997, Carter B. Horsley has been the editorial director of CityRealty. He began his journalistic career at The New York Times in 1961 where he spent 26 years as a reporter specializing in real estate & architectural news. In 1987, he became the architecture critic and real estate editor of The New York Post.
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