In February 2017, Pace University embarked on a $190 million renovation process known as the 'Master Plan'.[22] Phase 1, which included the One Pace Plaza and 41 Park Row buildings. was completed by a ribbon cutting event on January 28, 2019.[23] Additional future phases include a vertical expansion of One Pace Plaza to create an additional 67,000 square feet (6,200 m2) of academic space, relocating the Lubin School of Business, moving administrative offices from 41 Park Row, and modernizing the facade of One Pace Plaza.[24]