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For $55M, City Nabs Control of Delayed Brooklyn Bridge Park

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After a protracted squabble, state officials have agreed to hand over control of Brooklyn Bridge Park to the city in the hope of finally getting it done. The joint state-city Brooklyn Bridge Park Development Corporation is set to approve the handoff today, the Times reports. So what does the city have to give in exchange for control of the park? A cash injection of $55 million (of a total park tab of $350 million), which will kick off work on the park's sporty Pier 2. Of course, the city will also have to come up with a way to finance the park long-term. That could mean 1,200 condos.
· New York City to Take Over Brooklyn Bridge Park Project [NYT]
· Brooklyn Bridge Park coverage [Curbed]

Brooklyn Bridge Park - Pier 6

Pier 6, Brooklyn, NY 11201