The cornerstone for the new church was laid in 1843 and Grace Church was consecrated in 1846. Vestry minutes from January of that year breakdown some of the expenses for building a new church--including items ranging from the cost of the workers from the State Prison who cut the stone to the cost of the embroidery for the altar cloth. Like Trinity Church (also consecrated in 1846), Grace Church was designed in the Gothic Revival style, and despite the wood, plaster (scored to look like stone) and lathe construction--as opposed to the stone construction of medieval Gothic cathedrals.