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Pace finishes $200 million performing arts center at One Pace Plaza, backed by $175 million in state support

The rebuilt east wing in Lower Manhattan gives Pace's Sands College of Performing Arts three theaters, including a 427-seat Schimmel Theater, plus studios and production shops.

Written by NewYorkNews NewsroomOct 17, 2026 · 2 min read · 4 sources
The stone facade of One Pace Plaza with a dark metal sculpture over the entrance, flags and planters reading 'Pace' and 'Fall 2026'
One Pace Plaza in May 2026. The renovated east wing is the new home of Pace's Sands College of Performing Arts.

Photo: Ajay Suresh / Wikimedia Commons · CC BY 4.0

Key points
  • Gov. Kathy Hochul announced on Oct. 15 the completion of Pace University's $200 million renovation of the podium of One Pace Plaza, about 185,000 square feet, as the new home of the Sands College of Performing Arts (Governor's Office).
  • State support totals about $175.4 million: $140.4 million in DASNY bond financing, a $25 million Empire State Development appropriation, $5.5 million from the CREST program and a $3 million Pro-Housing Communities grant (Governor's Office).
  • The building has three venues: the 427-seat Schimmel Theater with a fly system, a black box seating 142 to 200 and a 60- to 82-seat Garden Theater that opens onto the plaza courtyard (Pace University).
  • Pace expects 26 new full-time and 85 part-time jobs and a more than 75% enrollment increase at Sands College by fiscal 2030 (Governor's Office).
  • Maria's Tower, the dorm above, reopens this fall for more than 500 students on floors 7 through 18 (Pace University).

Pace University has finished rebuilding the base of its Lower Manhattan flagship into a new home for its performing arts school, Gov. Kathy Hochul's office announced Thursday. The $200 million renovation of the podium of One Pace Plaza covers about 185,000 square feet in the building's east wing. It gives the Sands College of Performing Arts performance venues, rehearsal rooms, studios and student space under one roof.

The state is covering most of the cost: about $175.4 million in all, the governor's office said. That includes $140.4 million in bonds issued through the Dormitory Authority of the State of New York, a $25 million Empire State Development special appropriation, $5.5 million from the Community Resiliency, Economic Sustainability and Technology program, and a $3 million Pro-Housing Communities grant for furniture and equipment awarded through the Regional Economic Development Council.

What's inside

According to Pace, the building has three theaters:

  • Schimmel Theater: a 427-seat proscenium house with a full-size stage and fly system, meant for large-cast musicals and dance.
  • BlackBox Theater: a double-height flexible space seating 142 to 200, with catwalks and movable platforms.
  • Garden Theater: a 60- to 82-seat black box with one wall that partially opens onto the One Pace Plaza courtyard.

There are also a 3,600-square-foot scene and prop shop, a 3,300-square-foot costume shop, rehearsal and dance studios, and an animation studio, Pace says. The university's Maria's Tower residence hall, in the main tower above, reopens this fall with room for more than 500 students on floors 7 through 18.

Jobs and enrollment

Pace expects the expansion to add 26 full-time and 85 part-time faculty and staff positions, and projects enrollment at Sands College to grow by more than 75% by fiscal 2030, the governor's office said. The renovation also adds water-source heat pumps and other electrification work meant to cut the building's steam and fossil fuel use. Pace says its downtown campus serves about 10,000 people a day.

The building is already in use: a floor-by-floor guide Pace published in late August declared One Pace Plaza East officially open to students.

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How this story was madeWritten by NewYorkNews Newsroom from 4 sources · Oct 17, 2026

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