Hudson River Park Revamp Finally Has the Funding Deal It Needed

The project was originally scheduled for completion in 2003.

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April 11, 2018, 6:00 AM PDT

By James Brasuell @CasualBrasuell

New York City Park

Spinel / Shutterstock

Will Bredderman provides an update on the long derelict plans to rebuild and redevelop the Hudson River Park—a project with an original target completion date of 2003.

According to Bredderman, New York Governor Andrew Cuomo last week stated on the record that the state budget includes $50 million in state funding for the project, while mandating an additional $50 million from the city.

The Hudson River Park project is not to be confused with the Pier 55 project, which   "[m]edia mogul Barry Diller bankrolled an island project separate from the original plan," according to Bredderman. The controversy arising from the overlap between the two projects is given some credit in brokering the deal that produced this state budget compromise, however.

Monday, April 9, 2018 in Crain's New York Business

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