Feb 20, 2017 06:29 AM EST By Emily Marks, UniversityHerald Reporter

Pace University has announced that the president of Oberlin College, Marvin Krislov, will be the next president of the institution. This comes after the school confirmed its $190 million expansion plan for its lower Manhattan campus, which will add to the construction boom that is currently happening in the Financial District and the area around the university.

Marvin Krislov, who, as per The New York Times, is a lawyer by training, will become the eighth president of Pace University. He is notable for being vocal about identity and free speech.

The Oberlin College president has stated that he was impressed by Pace University, especially with its commitment to giving low-income and minority students access to higher education. He described the institution as a place where the American dream turns to reality.

Meanwhile, Curbed New York reported that Pace University will spend $45 million on the first phase of its renovation plan. This will involve upgrading its main campus building, One Place Plaza and 41 tPark Row.

The project is being led by FXFOWLE. Moreover, as part of the transformation, One Place Plaza will get a full redesign for its first floor. This will include a new student center, a welcome center, collaborative learning spaces as well as a quiet study area.

Pace University will be making a new entrance for their business school, The Lubin School of Business, on the lower level. They will also be adding in a learning laboratory, intended for new technologies, along with student lounges and a meeting room.

The university has also confirmed its plans to restore an original entrance to 41 Park Row on Spruce Street. An art gallery on the first floor will also be added as well as another collaborative space for students and faculty on the second floor.

According to New York Daily News, Pace University President Stephen Friedman described the expansion as an "exciting plan that invests in our future." He also said that it embodies their "enduring commitment."

Friedman defended the expansion, saying that it was long overdue. The university has received about $100 million in donations for the construction. Another campaign will aim to raise another $90 million.

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