As part of the long process of pinpointing how, exactly, Brooklyn Bridge Park will generate revenue, the Brooklyn Bridge Park Corporation just issued a draft statement saying that alternative options to housing could generate as much as $7 million a year. (The park has an annual maintenance budget of $16 million.) Carroll Gardens Patch reports that out of the nine alternatives to housing, eight were considered. Meanwhile, a story in the Daily News notes the following: “Some of the money depends on a controversial idea to create a Park Improvement District, charging fees to surrounding businesses and property owners. Or officials could build new parking lots or step up private fund-raising. In total, the efforts could raise between $2.4 million and $7 million, consultants found.” Revenue from the to-be-residential Watchtower Properties, one of the most important sources of money, wasn’t fully examined because not all the financial info is available. State Senator Daniel Squadron said in a statement, “This draft shows it’s possible to fund the park without imposing a new fee on Brooklynites or building new on-site luxury housing.” Public comment on the matter will be accepted until April 23rd and the next public hearing on these alternatives will be at 6 pm on Monday, March 31 at the Saint Francis College Auditorium in Brooklyn Heights.
Alternatives to Housing Considered for BBP [Brownstoner]
Photo by Design Trust for Public Space