Pace University has completed a $200 million renovation of the podium at One Pace Plaza in Lower Manhattan, giving its Sands College of Performing Arts a new centralized home. The 185,000-square-foot project, backed by about $175.4 million in New York State support, adds performance venues, rehearsal rooms and studios steps from City Hall Park.
Key Takeaways
- Pace University expects enrollment at the Sands College of Performing Arts to grow by more than 75 percent by Fiscal Year 2030.
- The project is expected to support 26 new full-time and 85 new part-time faculty and staff positions.
- About $140.4 million of the state support comes through bond financing issued by the Dormitory Authority of the State of New York.
- A $3 million Pro-Housing Communities grant pays for fixtures, furniture and equipment in the new performing arts facilities.
- Pace estimates its annual economic impact on New York City at more than $680 million, with its downtown campus serving about 10,000 people a day.
The East Wing of One Pace Plaza Becomes a Single Home for the Arts
The renovation covers the east wing of One Pace Plaza, the flagship building of Pace University’s downtown campus. Until now, the university’s performing and creative arts programs were not housed under one roof. The completed project brings undergraduate and graduate programs together in about 185,000 square feet of new performance venues, rehearsal spaces, studios, student gathering areas and academic offices.
For a performing arts school, that consolidation matters day to day. Actors, dancers, musicians and production students share rehearsal schedules, technical crews and stage time. Placing them in one building shortens the distance between a classroom exercise and a staged production, and it gives faculty a single base for building shows that draw on several disciplines at once.
Pace University President Marvin Krislov tied the project directly to the city around it. “Pace students have the extraordinary opportunity to learn and launch their careers right here,” Krislov said.
How the $200 Million Project Was Financed
New York State resources account for roughly $175.4 million of the $200 million total. The package combines four sources:
- $140.4 million in bond financing issued through the Dormitory Authority of the State of New York.
- A $25 million special appropriation from Empire State Development.
- $5.5 million through the Community Resiliency, Economic Sustainability and Technology Program.
- A $3 million Empire State Development Capital Improvement Grant for Pro-Housing Communities, awarded in Round XIV of the Regional Economic Development Council initiative.
The Pro-Housing grant is the detail that stands out. New York City holds state Pro-Housing Community certification, which opens access to a dedicated pool of discretionary funding. The Pace project was selected as a placemaking investment, meaning the state treated a university arts building as part of the neighborhood infrastructure that supports housing growth and street life. That money covers the furniture, fixtures and equipment inside the new performing arts spaces.
Sands College Plans a Sharp Enrollment Increase by 2030
The Sands College of Performing Arts is planning to grow. Pace University projects that the new facilities will support an increase of more than 75 percent in combined graduate and undergraduate enrollment at Sands College by Fiscal Year 2030. To serve those students, the university expects to add 26 full-time and 85 part-time faculty and staff positions.
That growth plan rests on a basic advantage of location. A performing arts student at One Pace Plaza is a subway ride from Broadway, Off-Broadway houses and the production offices that hire stage managers, designers and technicians. Training programs elsewhere ask students to move to New York after graduation. Sands College students are already here, building contacts in the industry they intend to join.
Downtown has been feeding that pipeline in visible ways. Earlier this summer, students from AMDA College of the Performing Arts opened the Broadway in Bryant Park season finale, a reminder that the city’s conservatories and universities are a working part of the theater economy and not separate from it.
Lower Manhattan and Chinatown Gain a Cultural Anchor
The project’s value reaches past the campus. Pace University’s downtown campus already brings about 10,000 people into the neighborhood each day, and the university estimates its annual economic impact on New York City at more than $680 million. New venues add evening and weekend activity to blocks that have long depended on weekday office traffic.
Pace also has a history of working with neighboring Chinatown through performances, workshops and panels. Larger, purpose-built spaces give the university more room to continue that programming, and more seats for residents who attend.
Empire State Development President Hope Knight described the center as a bridge between students and the local economy. Knight said the project connects students with careers in New York’s creative economy while strengthening the surrounding neighborhood.
Electrification Upgrades Cut the Building’s Reliance on Steam
The renovation also changes how One Pace Plaza runs. Pace University’s plans include new water-source heat pumps and other electrification measures designed to substantially reduce steam use and fossil fuel consumption. For an older Lower Manhattan building, the shift lowers long-term operating costs and moves the campus in line with the city’s building emissions goals.
FAQs
Where is the new Pace University performing arts center?
The new center is inside the east wing of One Pace Plaza, Pace University’s flagship building in Lower Manhattan near City Hall Park.
How much did the Pace University renovation cost?
The renovation of the One Pace Plaza podium cost $200 million. About $175.4 million came from New York State sources, including $140.4 million in bond financing.
What is the Sands College of Performing Arts?
The Sands College of Performing Arts is Pace University’s school for undergraduate and graduate programs in the performing and creative arts. The renovated space at One Pace Plaza is now its centralized home.
How many students will the new facilities serve?
Pace University projects enrollment at Sands College to rise by more than 75 percent by Fiscal Year 2030 as a result of the expanded facilities.
Will the new spaces host community programming?
Pace has a history of offering performances, workshops and panels for the surrounding community, including Chinatown. The new venues give the university more room to continue that work.
