Climate Hub Set to Rise on Governors Island

On April 24, 2023, Mayor Eric Adams, along with the Trust for Governors Island President and CEO Clare Newman, and State University of New York (SUNY) Stony Brook University President Maurie McInnis unveiled plans to construct a 400,000-square-foot “New York Climate Exchange” facility to serve as the anchor of the city’s Center for Climate Solutions Initiative. To be constructed on Governors Island, the campus will be a first-of-its-kind, cross-sector nonprofit organization dedicated to research, education, and public programs addressing the global climate crisis; and when fully operational is “expected to serve 600 postsecondary students, 4,500 K-12 students, 6,000 workforce trainees, and 250 faculty and researchers every year while supporting up to 30 businesses annually through its incubator program.” According to the press release by the Mayor’s Office, the initiative will create 7,000 permanent jobs and $1 billion in economic impact. The $700 million project will be built with 100% union labor at prevailing wages and add 4.5 acres of new open space on Governors Island. In support of the new campus, the Simons Foundation will provide $100 million in funding and Bloomberg Philanthropies will provide $50 million. Construction is slated to begin in 2025 with an estimated opening in 2028.