ESDC green lights Columbia plan, schedules hearing

Real Estate Weekly, Sept 10, 2008

The Empire State Development Corporation announced that the ESDC Board of Directors has adopted the Columbia University General Project Plan and authorized a public hearing for the university's proposed expansion. The $6.28 billion project, which is to be funded entirely by the university, will add up to 6.8 million square feet of new, state-of-the-art facilities in up to 16 new buildings and in an adaptively reused existing building.

The additional space will be used primarily for graduate-level teaching facilities, academic research, housing and recreation, and open active ground floor uses. The proposal also calls for the development of open spaces accessible to the general public, including widened sidewalks, mid-block open spaces, a large square and smaller open spaces.

"This project underscores Columbia's commitment to its neighbors by providing benefits to many segments of the local community: partnering with local secondary schools to enhance math and science curricula; providing scholarships for local residents, medical facilities for school-age children and funds for development; and by setting a 40 percent goal of minority and women labor. Columbia, my alma matter, continues to be a vital part of this city and State," said Governor David A. Paterson. The principal portion of the site is bordered by and includes 12th Ave on the west, Broadway on the east, 125th Street on the south and 133rd Street on the north. The project site also includes an irregularly shaped area east of Broadway, from 131st Street to 134th Street. The Project Site is part of a larger (35-acre) area that was rezoned by New York City at the end of 2007.

In adopting the General Project Plan, the ESDC board accepted the findings of a neighborhood conditions study conducted that found that the area surrounding the project's 17 buildings was mainly characterized by aging, poorly maintained and functionally obsolete industrial buildings, with little indication of recent reinvestment to revive their generally deteriorated conditions. It is envisioned that the benefits provided by the project, including employment opportunities, would revitalize the site along with the commercial and social life of the surrounding community.

Columbia is the city's seventh-largest private employer, with approximately 14,000 employees. The project is expected to add 14,000 construction jobs and 6,000 new university jobs.