Stanford University’s proposed graduate school of science on Roosevelt Island carries a $2.5 billion price tag, the university said Wednesday, more than double its estimate just weeks ago.
Stanford is a leading contender in the Bloomberg administration’s competition to create a new school of applied sciences that officials hope will prompt the growth of high-tech business in the city. Stanford’s close relationship with Silicon Valley is the acknowledged model.
New York City is offering free land — on Roosevelt Island, on Governors Island or at the Brooklyn Navy Yard — and infrastructure improvements, incentives that are worth up to half a billion dollars. The city plans to pick a winner by the end of the year, and Mayor Michael R. Bloomberg said it could choose two.
On Wednesday, Stanford said it had submitted its proposal to the city, two days ahead of the deadline, but in keeping with the city’s demands, the university did not make the 600-page document public and revealed only its outline. Its plan would include 1.9 million square feet of floor space, to be constructed over 30 years, and classes would begin in September 2013, in space provided by City College of New York.