NYU’s empty promise for new Greenwich Village school?

Site intended for school may revert to NYU if DOE misses deadline.

New York /
Oct.October 09, 2014 11:45 AM

New York University’s $6 billion expansion in Greenwich Village may be taking another controversial turn: The Department of Education has yet to green light funding for a new public school on Bleeker Street that the university promised the community as part of its development plan.

The DOE has until Dec. 31 to approve the funding for the seven-story school. After that, the university could reclaim the site for its own use, DNAinfo reported. The agency’s 2015-2019 capital plan has no money allocated for the school, but if the DOE does decide it’s a necessity for the neighborhood, an amendment to the plan could make the funds available.

Under the original agreement with NYU, the DOE has until 2025 to commit to the new school, but City Council member Margaret Chin fast-tracked the deadline “to make sure this space would start serving the community as soon as possible, rather than allowing NYU to let it sit vacant for up to another decade,” according to the news site. Now Chin, the DOE and the local community board are asking NYU to extend the deadline. So far the University has refused, saying that it does not want to revise its current plans amid ongoing litigation concerning their expansion.

If the deadline passes and no extension is granted, NYU would be required to turn over just 25,000 square feet in the building to the community — an 85-percent reduction in the square footage that had originally been allotted to the community for the school. [DNAinfo] — Heather Grossmann


Related Articles

arrow_forward_ios
Michael Ovitz looks to flip Greenwich Village condo for $25M
Michael Ovitz looks to flip Greenwich Village condo for $25M
Michael Ovitz looks to flip Greenwich Village condo for $25M
Argo Real Estate's Mark Moskowitz 64 University Place (Argo Real Estate, Bsafal)
Argo’s Greenwich Village condo sees quick-fire sales
Argo’s Greenwich Village condo sees quick-fire sales
Laurent Morali and 99 East 7th Street (left), 156 Sullivan Street (middle), and 318 East 6th Street (right) (Photo Illustration by The Real Deal with Getty, Google Maps, Compass, Apartments.com)
Kushners look to sell big piece of Manhattan apartment holdings
Kushners look to sell big piece of Manhattan apartment holdings
Eldad Blaustein with 525 6th Avenue (Google Maps, Core NYC)
Izaki files condo plans for West 14th Street
Izaki files condo plans for West 14th Street
Louis C.K. and 101 West 12th Street (Getty, Google Maps)
Louis C.K. poised to take loss on Greenwich Village co-op
Louis C.K. poised to take loss on Greenwich Village co-op
SLCE Architects' James Davidson and 1 Fifth Avenue (Davidson by Emily Assiran, 1 Fifth Avenue via StreetEasy)
How an SLCE partner scored a snazzy co-op in a single day
How an SLCE partner scored a snazzy co-op in a single day
KPG Funds' Rod Kritsberg and a photo illustration of the old (left) and new (right) buildings at 132 West 14th Street (KPG Funds, Getty Images)
KPG gets loan to turn “world’s ugliest building” into sleek office property
KPG gets loan to turn “world’s ugliest building” into sleek office property
From left: Jon Bon Jovi, CAA co-founder Michael Ovitz and 155 West 11th Street (Getty Images, Compass Real Estate, iStock)
Ovitz revealed as Bon Jovi’s Greenwich Village condo buyer
Ovitz revealed as Bon Jovi’s Greenwich Village condo buyer
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...