Pace University plans to spend $190 million on renovations at One Pace Plaza, its 18-story, 500,000-square-foot mixed-use academic building, and the 13-story academic building at 41 Park Row, both located in the Financial District. The first floor, lower level and courtyard entrance of One Pace Plaza will be redesigned and outfitted with new amenities, Real Estate Weekly reported. At 41 Park Row, which is an individual landmark, the ground and second floors will see renovations and new academic spaces. The entrance to the building will also be restored.
Construction is expected to begin this summer and finish in late 2018. The plans at 41 Park Row must first be approved by the Landmarks Preservation Commission. FXFOWLE Architects is responsible for the design. Pace is also planning to expand the academic space of One Pace Plaza by two floors, or 67,000 square feet, in a later phase, Crain’s reported.