Dance foundation moves to Lower East Side space.

The Paul Taylor Dance Foundation is stepping into a new location, with the move from its longtime home at 552 Broadway to expanded space on the Lower East Side.

The Dance Foundation signed on for 12,600 s/f of third-floor space at 551 Grand Street, for a 20-year term beginning March 1, 2009. The Ralph Lippman Auditorium currently occupies the space.

The price of the lease for the off-market transaction was not disclosed and no brokers were involved in the arrangement. Harold Jacob, general manager of the East River Housing Corporation, which owns and manages 551 Grand, contacted The Paul Taylor Dance Company directly.

"The Paul Taylor Dance Company's move will bring added vitality to the neighborhood and they will become an important member of this vibrant community on New York's Lower East Side," said Jacob. "The Grand Street location offers the company more space than they are currently occupying and is easily accessible via mass transit."

The Taylor Foundation, which includes the Paul Taylor Dance Company, Taylor 2, The Taylor School and Archives, spent more than two decades at 552 Broadway, where Taylor used his studios to choreograph two new dances each year and to provide his dance companies with rehearsal space when not touring.

551 Grand is part of a 41,733 s/f commercial building offering a mix of office and retail uses. The unit provides two column-free studio spaces for the company and features 20-foot ceilings.

Architect James Dart has been tapped to design the space and, the Dance Company will move in later in 2009, once fully refurbished.