Results 1 to 10 of 10

Thread: Higher Education and the Economy

  1. #1
    Senior Member
    Join Date
    Sep 2003
    Location
    Jackson Heights
    Posts
    285

    Default Higher Education and the Economy

    NYC's universities and research hospitals play a tremendous role in the city's economy: they train the workforce, attract creative talent, and generate new ideas and businesses. There are already threads dedicated to Columbia's and Cooper Union's expansion plans, as well as assorted individual projects around the city (Pace/NYU, CUNY/Fiterman, CUNY/Medgar Evers, Sloan-Kettering). The purpose of this thread is to focus on the role of the universities as economic engines.

    To start off the discussion, here's an article that Gotham Gazette ran today that provides an overview of both the campus planning issues and the larger economic issues:

    http://www.gothamgazette.com/article...40928/200/1129

  2. #2
    Senior Member
    Join Date
    Sep 2003
    Location
    Jackson Heights
    Posts
    285

  3. #3
    Senior Member
    Join Date
    Sep 2003
    Location
    Jackson Heights
    Posts
    285

    Default

    The New York Times
    REGIONAL MARKET / MANHATTAN
    Growth of Educational Institutions Fuel Search for Space
    By SANA SIWOLOP

    Published: September 29, 2004

    In the realm of Manhattan office leasing, the amount of space occupied by educational institutions is very small, dwarfed by the expanses occupied by financial service companies and insurance, accounting and law firms.

    But lately, brokers say, colleges and other schools have become much more visible participants in the market.

    In one recent transaction, Empire State College signed a deal to take a major block of space in Hudson Square, in a building that has served as both a warehouse for department stores and a telecom hotel, housing the equipment used by telecommunications and Internet companies.

    Empire State College, a rapidly growing institution that is part of the State University of New York system, primarily serves working adults who have existing college credits, and it needed to expand its classrooms and faculty offices.

    The college was looking for space that was attractive and affordable as well as easily accessible to students from all five boroughs. The college decided to lease 34,000 square feet at a 214,000-square-foot renovated office building at 325 Hudson Street.

    Until fairly recently, most educational institutions preferred to own their space.

    But some brokers say that educational institutions, both public and private, now represent one of the most active industry groups looking to lease Manhattan office space, particularly in areas where prices are relatively low, like downtown, Hudson Square, Midtown South and parts of TriBeCa.

    Some colleges, the brokers say, have been opting to put their capital into educational programs rather than into office buildings in the superheated Manhattan market.

    But others, they say, are growing so quickly in the New York area that they have found it easier to lease space relatively quickly, rather than to spend the many months that might be necessary to complete a purchase.

    Fitting an office building for an school or college is not always easy.

    When the Borough of Manhattan Community College, which is part of the City University of New York system, decided to lease 190,000 square feet of space at 75 Park Place in downtown Manhattan late last year, it stipulated a number of modifications, like separate elevator banks and entrances for students, as well as increased stairwell capacity.

    "The role of education in New York is growing, and it's a big factor in the office leasing market right now," said Richard M. Warshauer, a senior managing director at GVA Williams, a real estate brokerage and management firm.

    According to Cushman & Wakefield, the real estate services firm, education-related tenants accounted for just 2.7 percent of all Manhattan office space that was leased in 2002 and 2.42 percent in 2003, but they now account for 5.5 percent of tenants that are in the market for space.

    Richard T. Kennedy, a senior director at Cushman & Wakefield, said the interest reflected "a paradigm shift in how schools are setting up their facilities."

    He began to notice the shift when the City Department of Education announced plans to lease almost 100,000 square feet for a public high school in a 22-story office tower at 75 Broad Street. Mr. Kennedy represented the Department of Education in the transaction, which eventually produced Millennium High School, which opened a year ago in September.

    The high school is the first of its kind for residents of Lower Manhattan, and real estate brokers say it reflects the fact that many families now live in the area.

    A nine-story office building at 41 Broad Street now has an educational tenant as well. The 100,000-square-foot property, which used to house an investment bank, recently became home to a new private school, Claremont Preparatory, which hopes to accommodate some 1,000 students in kindergarten through eighth grade when it opens a year from now. Claremont Preparatory is the first downtown school that has been opened so far by MetSchools Inc., a profit-making education group based in Manhattan.

    Some schools and colleges say they are leasing, rather than buying, space in downtown Manhattan because it is a new market for them and carries less financial risk. Berkeley College, a 73-year-old business college with five campuses in the New York area, recently decided to open another campus downtown to serve the college's growing number of students from Brooklyn and Staten Island.

    This week, the 4,700-student college, whose enrollment has grown 67 percent in 10 years, opened a 21,000-square-foot downtown campus on the second and third floors of 130 William Street, a 12-story building that is adjacent to an entrance for the Fulton Street subway station.

    The campus will help the school satisfy strong demand; the population at the school's existing city campus, on East 43rd Street, has more than doubled in the last 10 years, to about 1,900 students.

    Some colleges, like the School of Visual Arts, are taking advantage of the struggling Manhattan office market to consolidate their operations.

    The art college, which now has its main building at 209 East 23rd Street, is looking to lease about 150,000 additional square feet of space in the 23rd Street corridor area. "We're scattered all over the place right now," a spokeswoman said.

  4. #4
    Forum Veteran
    Join Date
    Jan 2003
    Location
    Garden City, LI
    Posts
    1,778

    Default NYU explores Brooklyn expansion

    http://www.crainsny.com/news.cms?id=8903

    New York University is considering an expansion to Brooklyn as it seeks to expand its space by more than 1 million square feet over the next 10 years, according to Bloomberg News.

    NYU President John Sexton told the news agency that the university could build some classrooms or research space in Brooklyn, and said the school is looking at properties that would fit with the surrounding neighborhoods. "We will probably be in Brooklyn one way or another," he told the news agency.

    The university kicks off a $2.5 billion fund-raising campaign tonight at Cipriani 42nd Street. The university has already raised $1.1 billion in contributions.

  5. #5
    Forum Veteran
    Join Date
    Jan 2003
    Location
    Garden City, LI
    Posts
    1,778

    Default Columbia's Proposed Expansion into Manhattanville in West Ha

    http://neighbors.columbia.edu/campus...anningHome.php

    To remain engaged in understanding the problems of our day and continue to make meaningful contributions toward solving these problems, Columbia University will need to address a number of challenges over the coming years. The one most relevant to this discussion is the University's need for additional research and academic facilities. As President Lee C. Bollinger said in his inaugural address in October, 2002: "Columbia is the quintessential great urban university and the most constrained for space…Indeed, if college and university rankings were based on creativity per square foot, Columbia would surpass everyone."

    Columbia University's proposal for a major expansion into the Manhattanville area is a reflection of two of the institution's most important goals. One is Columbia's urgent need for additional space. The other is a continuation of the commitment to the communities of upper Manhattan and our belief that this effort will bring economic and other benefits to our neighbors. The University feels that it benefits enormously by living amid such creative and resilient communities. We must continue to intellectually engage the challenges of our world and we must be physically and spiritually integrated into the fabric of our neighborhoods and this city.

    Currently, the University's space requirements have necessitated the development of approximately one million square feet every five years since 1994. There is not enough developable square footage within the existing Morningside or Columbia University Medical Center campuses or through the development of nearby University-owned properties to sustain such a rate of growth.


    (Click here to see a map of properties currently owned by Columbia and potential University development sites in the Morningside Heights area)


    (Click here to see a map of properties currently owned by Columbia and potential University development sites in the Columbia University Medical Center vicinity)


    In the long term, the University feels that additional space is critical for Columbia to maintain its status as one of the world's leading universities. Columbia has less square footage per student than any of its counterparts in the Ivy League and the need for more space exists in virtually every academic discipline.


    Space is required for new laboratories to make the critical discoveries that aid the ill and help us better understand the mysteries of our world and ourselves. Classrooms are needed to transmit to students what we know and identify the important puzzles that remain. Studio and performance spaces for the arts are necessary for Columbia's students and faculty to express their creativity and draw upon the energy and talent of the community and city of which Columbia is a part. To understand the options that exist for the University to grow, Columbia announced a campus plan study in February 2003. The goal of the ongoing study is to determine how best to make use of its existing resources in Morningside Heights, Washington Heights, Lamont-Doherty, Nevis and Manhattanville in West Harlem, as well as to develop a strategic plan to identify options for new space for the University's long-term academic and research growth.

    Why Manhattanville?

    Historically, Columbia has addressed its space needs by relocating, which it did twice before moving to Morningside Heights in 1897. Now, once again, Columbia is at a pivotal time in its history. After considering a number of options, Columbia has decided to continue its commitment to the west side of Manhattan.
    There are a number of reasons why the University feels the proposed development to Manhattanville in West Harlem is compelling.


    Location & proximity: Manhattanville in West Harlem is situated between the Morningside Heights campus just five blocks to the south and the Columbia University Medical Center a short subway ride to the north. It will allow for an easy connection to both campuses. It extends roughly from West 125th Street on the south to 133rd Street on the north and from Broadway on the east to 12th Avenue on the West, comprising approximately 18 acres.
    (Click here for an aerial photo of the Manhattanville in West Harlem area with the University's study area and the existing manufacturing zoned area highlighted)

    The opportunity presented by existing lack of density. When compared to residential areas to the north and south, the Manhattanville area’s low density makes it a prime candidate for New York City's effort to rezone areas in order to encourage economic development. Zoned for industrial use, much of the Manhattanville in West Harlem area is currently comprised of warehouses, automobile service stations or similar types of industrial buildings. Employment in the area has fallen by over 35 percent since 1984 and is now estimated at approximately 1,200 jobs.

    Extension of our presence in West Harlem: Columbia has had a presence in Manhattanville for decades. The University has owned Prentis Hall on 125th Street since the 1950's as well as the two Columbia apartment buildings at 560 Riverside Drive built in the late 1960's. Other properties in the area include 615 West 131St Street, an industrial building that will house Columbia administrative offices beginning next year. In all, Columbia currently owns or leases approximately one-third of the land in Manhattanville.

  6. #6
    Senior Member
    Join Date
    Sep 2003
    Location
    Jackson Heights
    Posts
    285

    Default

    City Is Pushing Colleges To Expand Into Poorer Areas

    By ANNIE KARNI
    Staff Reporter of the Sun
    October 4, 2007

    The city is moving toward grouping portions of its biggest colleges and universities in far-flung underdeveloped neighborhoods such as Long Island City, Governors Island, the South Bronx, and downtown Brooklyn.

    With the city's 113 colleges and universities together projecting a need for 20 million square feet of real estate over the next few years for new dormitories, laboratories, and classrooms, they would likely have to expand into places such as Westchester or New Jersey if they don't pool their resources and share space, city officials said.

    Sharing academic buildings and residence halls could create the unusual scenario of a Columbia University professor living next to a City University of New York dean, and their students passing each other in the hallways of a building in Queens.

    In an effort to brand New York as the country's biggest, fastest-growing college town, the Bloomberg administration has created a higher education task force charged with developing these "university centers." While 23 of New York's largest universities so far have said they would consider developing communal real estate with the city's help, some in the academic community say they worry it could detract from the unique identities of their individual institutions.

    "On paper, it might sound nice to facilitate an intellectual community, but I don't know in practice if it would happen," an assistant professor of French at New York University, John Moran, said.

    Some students said communal learning and living could weaken the bonds they establish with their colleges.

    School administrators have been hesitant to sharing laboratories and classrooms in remote neighborhoods, city officials said, in part because of the difficulties of coordinating their class schedules.

    "The shared student or faculty housing is a much easier lift," the vice president for business development at the city's Economic Development Corporation, Teresa Vazquez said. With the city's crowded real estate market, the city is pushing colleges and universities to think outside the box about their expansion plans.

    "Twenty million square feet is not something easy to come by," Ms. Vazquez said. "We still need to make schools more aware of the development potential of places like Long Island City to prevent schools from going outside of New York City to expand."

    Ideally, schools such as Columbia, New York University, Barnard, CUNY, the New School, Pace, Fordham, and Cooper Union — all of which have expressed interest in sharing buildings — would create intellectual communities in some of the city's struggling neighborhoods.

    "There is no major academic investment there," Ms. Vazquez said of Long Island City, where the city has invested $40 million in infrastructure to make the neighborhood more attractive to private investors. "It's new territory for them."

    Ensuring that such institutions grow within the city would also give a boost to economic activity in struggling neighborhoods, and would keep in New York all of the 84,000 jobs that higher education creates, Ms. Vazquez said.

    The city is aiming to have its communal expansion plans nailed down by next fall.

    "Our current explorations with the EDC are focused on housing, but it could also provide promise for academic programs that have synergy with the developing economic milieu of the area," the assistant vice president for campus planning and design at NYU, Lori Mazor, said in an e-mail message.

    The city's shared resources proposal is based on a similar plan in Chicago, where the city granted land to DePaul University, Roosevelt University, and Columbia College to construct a shared dormitory for their students.

    So far, the city is only offering its help, but neighborhood groups say they would encourage the city to offer up land or financial incentives to institutions that agreed to share space in developing neighborhoods. "If the city had land that it made sense for this kind of use, that should be on the table," the executive director of the Greenwich Village Society for Historic Preservation, Andrew Berman, said. "We've been urging NYU for years to work with the city to find space outside of our neighborhood which is becoming oversaturated every day."

  7. #7
    Senior Member
    Join Date
    Sep 2003
    Location
    Jackson Heights
    Posts
    285

    Default

    New York Times - City Room Blog
    November 16, 2007, 10:33 am
    When the Gown Devours the Town

    By Sewell Chan

    Are universities gobbling up New York City? Town-gown disputes have flared recently at such diverse schools as Columbia University (where hunger-striking students are protesting a campus expansion in Harlem), New York University (which is steadily developing more and more of Greenwich Village) and even Queens College (which is building its first dormitory).


    See full post at:
    http://cityroom.blogs.nytimes.com/20...ours-the-town/

  8. #8

    Default seems like a pretty good use to me

    I don't get the university bashing culture in cities. What could be better than having Columbia and NYU around? The people are cool, the schools fuel tremendous growth on their own and as an incubator for startups and future leaders, etc. There needs to be some common sense, but I actually think both Columbia and NYU are actually pretty good urban neighbors.

  9. #9

    Default

    ^ Americans are knee-jerk anti-intellectuals, and students have Oedipal issues.

  10. #10

    Default

    Quote Originally Posted by investordude View Post
    I don't get the university bashing culture in cities. What could be better than having Columbia and NYU around? The people are cool...
    What exactly are you basing that piece of insight upon?

Similar Threads

  1. U.S. Economy
    By Freedom Tower in forum News and Politics
    Replies: 171
    Last Post: August 19th, 2008, 12:30 PM
  2. Bad Economy = Bad Times in T.S.
    By BrooklynRider in forum New York Real Estate
    Replies: 56
    Last Post: November 13th, 2006, 05:50 PM
  3. More Museums, Despite Poor Economy
    By Edward in forum New York City Guide For New Yorkers
    Replies: 4
    Last Post: April 15th, 2006, 08:22 PM
  4. Higher Buildings (and Prices) in Harlem
    By Kris in forum New York Real Estate
    Replies: 3
    Last Post: December 15th, 2003, 03:02 PM
  5. Lehman College Physical Education Facility
    By Kris in forum New York Skyscrapers and Architecture
    Replies: 1
    Last Post: July 24th, 2003, 05:27 PM

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  


Google+ - Facebook - Twitter - Meetup

Edward's photos on Flickr - Wired New York on Flickr - In Queens - In Red Hook - Bryant Park - SQL Backup Software