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The city has approved a $145 million bond issue and $4 million tax waver to help New York Law School expand its campus in Lower Manhattan.
The city has approved nearly $150 million in aid to help New York Law School
expand its campus in Lower Manhattan.
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.
“New York Law School is a valuable asset for Lower Manhattan,” said Andrew Alper, chairman of the IDA, in a statement. “The school’s $145 million investment in Lower Manhattan is a terrific boost for the local economy.”
The school, which has about 1,400 full- and part-time students, opened its first student dormitory, a 13-story building in the East Village, earlier this month.