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Brooklyn Bridge Park Price Tag Skyrocketing

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With work on the controversial Brooklyn Bridge Park project supposed to start soon with demolition work and a likely ceremonial groundbreaking, there are new questions about the ever-growing cost estimates. Today's Observer says the project "is thought to now cost tens of millions of dollars more than the $150 million budgeted." The good news is that last year NYC Park Advocates said the cost could approach $300 million, so they still have a way to go. The bad news is that despite all the condo development expected to provide a funding stream, the project isn't fully funded. (The city is willing to kick in more money but wants more control over the project.) New Brooklyn Bridge Park Development Corp. President Regina Myer tells the Observer that "Since this project was originally scoped, construction costs have absolutely exploded." Well, thank God it isn't the $45.07 an hour lawn sprinker people that haven't done it or the $30 million already spent on planning and, uh, lunches at Union Square Cafe.
· City Wants More Power Over Brooklyn Bridge Park As Project Slides Into the Red [NYO]
· Brooklyn Bridge Park May Cost a Tiny Bit More Than Thought [Curbed]
· Brooklyn Bridge Park Spares No Expense [Curbed]

Brooklyn Bridge Park - Pier 6

Pier 6, Brooklyn, NY 11201