For nearly a decade, the City of New York has sought to build Willoughby Square, a marquee public space in downtown Brooklyn. Thanks to a city-brokered agreement, a 'high-tech, mammoth underground garage' will help finance construction of the square.
According to Julie Satow, the planned Willoughby Square, "the long-awaited public space that New York City officials consider Brooklyn’s answer to Bryant Park in Midtown Manhattan...will span more than an acre on Willoughby Street, a half-block from the Fulton Street mall, with manicured lawns, walkways and gardens, as well as a site to commemorate the abolitionist movement."
Below the square, the Willoughby Operating Company will construct the largest automated parking facility in North America, thanks to a deal negotiated by the city. "The Willoughby Operating Company, an affiliate of the American Development Group, will lease the city-owned land," explains Satow. "It will use $6 million from city capital, the city’s Economic Development Corporation and private contributions from surrounding developers to construct the park."
"The city hopes to open the park in 2016."
Read the full story: Buried Garage to Help Pay for New Park in Brooklyn
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