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NYU eyes Governor's I. for long-term growth.

In considering expansion, New York University officials say they will have to examine some areas outside the core campus in Greenwich Village.

Governor's Island would certainly fit that bill.

The private university is pitching the development of up to one million square feet of space on the island, officials said.

"Governors Island is one of the remote locations we are looking at as a site for long-term growth," NYU spokesman John Beckman said. "Concepts could include student housing, faculty housing and academic space ... It is important to stress that this will be a long-range plan, as there are numerous infrastructure and transportation issues that will need to be addressed."

The proposal is part of NYU's plan to locate six million square feet of space over the next 25 years to meet spiking demands for housing and academic space. Coming under fire from Greenwich Village community groups, the university last month promised to work better with its core-area neighbors by reusing existing buildings and looking outside its central area.

NYU, however, has reportedly been considering a Governors Island project for years. The Governors Island Preservation and Education Corporation is open to hearing more about NYU's pitch.

"Many New Yorkers and visitors have commented on Governors Island's campus-like setting, making it an ideal home for an institution of higher learning," the corporation said in a prepared statement. "GIPEC would be thrilled to fulfill our educational mission with a tenant like NYU. Just as with any other organization seeking tenancy on Governors Island, NYU would have to answer an open RFP process to lease space here."

It remains unclear when GIPEC will seek development proposals, which will be issued in response to the market demand.

A mix of uses is being sought on the island. GIPEC controls 150 acres of the island, while the remaining 22 acres are designated as the Governors Island National Monument.
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Comment:NYU eyes Governor's I. for long-term growth.
Publication:Real Estate Weekly
Article Type:Brief article
Geographic Code:1U2NY
Date:Feb 13, 2008
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