Plan for Expansion (Score 1)

Currently in charge of a machine shop at a university, and biggest advice would be to plan for expansion/future. Make sure the space has proper ventilation, make sure space has plenty of outlets, is prepared for 3 phase machinery, and attempt to be as close as possible to a loading dock.

Machinery wise

The basics everyone will want in a hacker space
-3d printer
-Laser cutter
-Drill press
-Bandsaw

What a machine shop/hacker space should have
-Mill
-Lathe
-Paint booth
-Grinder
-Welding equipment
-CNC mill

All the listed equipment/machinery asides from the laser cutter+ 3d printer is fairly cheap to buy used and also may be able to get a machine shop to donate older used equipment for tax write off purposes or just to get it out of there.
(Sorry for any spelling errors, etc Haven't slept for about 30 hours)