diff --git a/cmake/macros/Private.cmake b/cmake/macros/Private.cmake
index 3825e2a19..0a79b49bd 100644
--- a/cmake/macros/Private.cmake
+++ b/cmake/macros/Private.cmake
@@ -1238,7 +1238,7 @@ function(_pxr_library NAME)
             MFB_PACKAGE_NAME=${PXR_PACKAGE}
             MFB_ALT_PACKAGE_NAME=${PXR_PACKAGE}
             MFB_PACKAGE_MODULE=${pythonModuleName}
-            PXR_BUILD_LOCATION=usd
+            PXR_BUILD_LOCATION=../lib/usd
             PXR_PLUGIN_BUILD_LOCATION=../plugin/usd
             ${pxrInstallLocation}
             ${pythonModulesEnabled}