Brooklyn's Progress
June/July 2006

New York City Mayor Michael Bloomberg and New York State Governor George Pataki announced the transfer of Brooklyn’s Piers 1, 2, 3 and part of Pier 5 from the Port Authority of New York and New Jersey to the Brooklyn Bridge Park Development Corporation (BBPDC).

The announcement was made at a May 31 press conference at the site of Brooklyn Bridge Park and follows the Empire State Development Corporation’s January approval of the General Project Plan for the 85-acre park. Brooklyn Bridge Park will be the first large, new park in the borough since the creation of Prospect Park 135 years ago.

“This is an important milestone in the creation of what is set to become one of New York City’s most magnificent public spaces,” said Mayor Bloomberg. “Brooklyn Bridge Park will become the quintessential example of our Administration’s commitment to return the city’s waterfronts to its residents and improve the quality of life in all five boroughs.”

The Brooklyn Chamber of Commerce has been a longtime supporter of the project that will stretch 1.3 miles along the East River from Atlantic Avenue to north of the Manhattan Bridge.

The park will include public plazas, a bicycle path, restored marshland, numerous playgrounds, playing fields and courts as well as four miles of promenades, boardwalks and water sports. Fishing piers and a marina are also planned for the site.

New York City is investing $65 million and New York State will provide an additional $85 million for the design and construction of the park. It is estimated that construction costs will be about $130 million and annual maintenance will cost a little over $15 million. Construction is set to begin on Brooklyn Bridge Plaza, the first phase of the project, in 2007.

Approximately 10% of the park will be set aside for housing, hotel, retail space and parking. The revenue generated will go toward park maintenance.