NYLS Gets $150 M. From City

Crain’s reported on Friday that the city had approved some $150 million in aid to New York Law School, to help them expand their Lower Manhattan campus.

The announcement came on the heels of the local law school’s ribon-cutting in the East Village on the school’s first dormitory building, a 13-story monster at 81 East 3rd Street.

Crain’s reporter Mary Sisson wrote:

The law school will build a new 337,000-square-foot facility on Leonard Street between West Broadway and Worth Street, where it is currently located, using a $145 million bond issue approved by the city’s Industrial Development Agency. A tax waiver will save the school about $4 million in mortgage costs.

The new building, which will be five stories tall and will have four underground levels, will house academic facilities and administrative offices. The expanded space will allow the school to add 21 people to its current staff of 422.

Building dorms has recently become a mainstay of local schools hoping to heighten their profile by getting students from beyond the metropolitan area who would balk at the cost of living here otherwise. Dean and President Richard A. Matasar said as much at the ribbon-cutting:

“In all its 114-year history, New York Law School has never had its own dormitory,” said Dean Matasar, “and this has been a significant consideration for prospective students from beyond the New York metropolitan area. Now we can offer students a comfortable, convenient accommodation that will allow them to have the full experience of living and attending law school in Manhattan.”

You’ll recognize this as a central part of New York University’s strategy to attract more students–and, by increasing the competition in the admissions process, better students; whether the East Village can continue to absorb this teeming student population is a matter of debate.

– Tom McGeveran

NYLS Gets $150 M. From City