Governor Hochul Announces Completion of $200 Million Pace University Performing Arts Center in Lower Manhattan

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A factual summary is pending editorial review. The complete official release is reproduced below with issuer attribution and a direct link to the original publication.

Official release

Source material from New York Empire State Development. The wording below is the issuer’s statement.

Nearly $175.4 Million in State Support Advances Transformative Renovation of One Pace Plaza

New State-of-the-Art Home for Sands College of Performing Arts Will Support Workforce Development, Arts and Culture, and Continued Revitalization of Lower Manhattan

Governor Kathy Hochul today announced the completion of Pace University’s $200 million renovation of the podium portion of One Pace Plaza in Lower Manhattan, including a new state-of-the-art home for the Sands College of Performing Arts. Supported by nearly $175.4 million in New York State resources, the project creates new performance venues, rehearsal spaces, studios and other facilities that will prepare the next generation of New York artists and creative professionals while strengthening Pace University’s role as an anchor institution in Lower Manhattan.

“New York’s arts and cultural institutions are central to our identity, our economy and the communities that make our state such an extraordinary place to live,” Governor Hochul said. “With this investment in Pace University, we are creating new opportunities for students to build careers in the performing arts while bringing new energy and activity to Lower Manhattan. This new center represents the kind of investment that strengthens our neighborhoods, develops our workforce and keeps New York at the center of the creative world.”

Empire State Development President, CEO and Commissioner Hope Knight said, “Governor Hochul understands that economic development is about investing in the people and institutions that make communities thrive. Pace University has long been an anchor in Lower Manhattan, and this new performing arts center builds on that role by connecting students with careers in New York’s creative economy while strengthening the neighborhood around it. ESD is proud to support a project that brings together workforce development, placemaking and one of New York’s most important industries.”

DASNY President and CEO Robert J. Rodriguez said, “Pace University has been an important DASNY partner for decades, and this project shows what that partnership can make possible. By helping finance the transformation of One Pace Plaza, DASNY is supporting a modern campus that will give students the spaces and tools they need to learn, create and prepare for careers in New York’s performing and creative arts. Governor Hochul’s continued investment in higher education infrastructure is strengthening institutions like Pace while helping ensure New York remains a global center for arts, culture and opportunity.”

The approximately 185,000-square-foot renovation of the east wing of Pace University’s flagship One Pace Plaza creates a centralized home for the university’s undergraduate and graduate performing and creative arts programs, with new performance venues, rehearsal spaces, studios, student gathering areas and other academic and administrative facilities.

Read the full press release here.

Release text attributed to New York Empire State Development. Consult the official publication for any subsequent corrections or updates.