The Conservatory expanded to a Two Year Program in New York City in 1977 and was situated in the National Shakespeare Company's brownstone studios and offices on West 51 Street near 9th Avenue in Manhattan, along with The Cubiculo, an off-off-Broadway theatre, also owned and operated by the National Shakespeare Company.

After Meister's death in 1982, Siletti and Schoemann established The Conservatory as a separate entity from the National Shakespeare Company and moved the operation of the Two Year Program to lower Broadway in Soho.

The integration of the physical and vocal with internal techniques with a strong classical base was the hallmark of Conservatory's intensive training.

Many of the National Shakespeare Conservatory teachers were professional actors recruited by Meister, Schoemann and Siletti to serve as faculty, beginning their teaching careers at The Conservatory, and subsequently teaching at the Stella Adler Studio of Acting, its undergraduate studio program at New York University, and other colleges and universities.

Beginning in 1994, the US Department of Education (USDE) raised its requirement for the National Shakespeare Conservatory to post a Letter of Credit in order to continue participation in the federal student aid programs.