NYU is up on Downtown thanks to latest Metrotech leases
- Kate Briquelet for The Brooklyn Paper May 27th, 2011
- Source: http://www.brooklynpaper.com/stories/34/22/dtg_nyuexpands_2011_6_3_bk.html
NYU is expanding its existing Polytechnic Institute to include two more buildings in Metrotech Center, a move that borough officials cheered as a magnet for Downtown development — and a sign that university is serious about Brooklyn.
NYU-Poly signed a 20-year lease with Forest City Ratner for space in Metrotech Center, a campus of 11 mixed-use buildings between Flatbush Avenue Extension and Jay Street, where space has recently been going cheap.
“The increased student population will be a boon for businesses and attract greater private investment to the area,” said Borough President Markowitz.
NYU-Poly already owns academic buildings at 6 Metrotech and 5 Metrotech, a residence hall on Johnson Street, and admissions offices on Bridge Street.
“Expanding into buildings that flank the commons allows NYU-Poly to own the square, and imparts a more dynamic, vibrant feel to our campus,” said NYU-Poly President Jerry Hultin.
The land grab is part of Polytechnic’s 10-year, $38-million expansion and renovation plan, now in its second year, to accommodate a projected rise in enrollment.
Crain’s New York recently reported that NYU-Poly plans to expand enrollment by 40 percent, to 6,000 students, over the next four years