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Construction is anticipated to begin in 2025. Collaborative projects, including research initiatives, programs with community groups, workforce training programs, and K-12 outreach will begin earlier.

The Exchange’s future home will be located in Governors Island’s eastern development zone near Yankee Pier. The campus will consist of new facilities, renovated historical buildings — including the iconic Liggett Hall and the Fort Jay Theater — and restored open space. Development will preserve much of the existing natural, cultural, and educational resources that make Governors Island unique.

Skidmore, Owings, & Merrill will design The Exchange’s 400,000 square-foot-campus.

The Exchange’s partner network includes interdisciplinary experts, thought leaders, and decision-makers, including the top minds in climate science, environmental justice, and policy.  We have convened researchers, educators, business leaders, and community organizers who are working together to tackle the effects of climate change.

The Exchange's partner organizations were selected based on a shared vision and commitment to social justice, economic opportunity, and world-class research. We sought partners with diverse areas of experience and complementary skill sets in order to strengthen our impact.

Once fully operational, The Exchange is expected to serve 600 postsecondary students, 4,500 K-12 students, 6,000 workforce trainees, and more than 250 faculty and researchers each year. The innovation hub and incubator program is expected to support approximately 30 businesses annually. 

The Exchange is expected to create approximately 7,000 jobs and approximately $1 billion in economic impact for New York City.

Environmental justice, or climate justice, acknowledges that climate change disproportionately affects low-income communities and communities of color. The Exchange will pursue climate change solutions that address global inequities, reduce burdens, distribute benefits more fairly, and improve discriminatory practices of the past. With its home on Governors Island, The Exchange is uniquely positioned to develop and demonstrate sustainable and affordable solutions for coastal and island urban environments in New York City and beyond.

New construction, renovation, and operational costs for The Exchange are expected to be $700 million. About $150 million in funding will come from previously allocated city capital funding. Another $100 million will be donated by the Simons Foundation. Bloomberg Philanthropies has committed to an additional $50 million toward the project. The Exchange and its partners will raise another ~$400 million and cover operational costs of The Exchange. There will be no additional cost to New Yorkers.

Governors Island is only reachable by ferry. Ferry service will be provided every 15 minutes, with a hybrid electric ferry expected to start service in 2024.

The kind of research undertaken will no doubt evolve over time as we work to address the needs, ideas and challenges faced by those communities most impacted by climate change. While specific research projects are to be finalized, what we do know is that from the start, The Exchange will tackle the most important elements of the climate challenge: air, water, food, and energy studies. Some initial areas of focus include:

  • Climate resilience and mitigation
  • Energy systems
  • Food and water systems
  • Visualization and modeling of extreme weather conditions
  • Green infrastructure for coastline resilience
  • Circular organic waste management
  • Policy strategies for implementation of solutions
The Exchange offers an opportunity to amplify and expand the climate and sustainability research already being done at its partner institutions. It also plans to host a Climate Solutions Fellows program for graduate students, a Climate Solutions Semester for undergraduates, and a variety of job training and skill-building programs to help develop the green workforce. There will also be opportunities for teachers, researchers, artists, community organizers, and others to engage with the mission of The Exchange.

The Exchange will begin offering programs and activities before construction begins in 2025. Sign up to receive news and updates about The Exchange. Get Involved

Construction is anticipated to begin in 2025. Collaborative projects, including research initiatives, programs with community groups, workforce training programs, and K-12 outreach will begin earlier.

The Exchange’s future home will be located in Governors Island’s eastern development zone near Yankee Pier. The campus will consist of new facilities, renovated historical buildings — including the iconic Liggett Hall and the Fort Jay Theater — and restored open space. Development will preserve much of the existing natural, cultural, and educational resources that make Governors Island unique.

The Exchange offers an opportunity to amplify and expand the climate and sustainability research already being done at its partner institutions. It also plans to host a Climate Solutions Fellows program for graduate students, a Climate Solutions Semester for undergraduates, and a variety of job training and skill-building programs to help develop the green workforce. opportunities for teachers, researchers, artists, community organizers, and others to engage with the mission of The Exchange.

The Exchange will begin offering programs and activities before construction begins in 2025. Sign up to receive news and updates about The Exchange:

Keep an eye on our events page to find upcoming opportunities to get involved.