Why will Brooklyn Bridge Park be self-sustaining?
Self-sustainability, or the park’s ability to pay its own yearly maintenance and operations costs, was the foundation of the community’s agreement with the government to convert the piers into parkland. When the plans for redevelopment of Piers 1-5, owned by the Port Authority, began taking shape 20 years ago, the community called for a park. The government committed the funds to build Brooklyn Bridge Park based on the agreement that the park include limited development to pay for its ongoing maintenance and operations costs. back to top What is the M&O budget for the Park? The estimated M&O budget for Brooklyn Bridge Park is $15.2 million. This is the first thorough and detailed analysis for the Park and the first to have the advantage of relevant comparable budgets such as those for Hudson River Park and Battery Park City. The annual budgets for those parks are $185K/acre and $212K/acre respectively. The estimated annual budget for Brooklyn Bridge Park is $188K/acre. The M&O budget w
