Brooklyn Heights

Brooklyn Bridge Park presents its financial model Thursday night

July 9, 2015 Brooklyn Daily Eagle
Regina Myer, president of Brooklyn Bridge Park
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Brooklyn Bridge Park (BBP) has scheduled a public meeting on Thursday, July 9, from 6:30 to 8 p.m., at BBP’s offices, 334 Furman St. (corner of Joralemon St.) to present the park’s updated financial model. A session of Q&A will follow the presentation.

An independent financial analysis of the park plan, announced at the June 11 BBP board meeting, will be released later in July.

BBP President Regina Myer noted, “For the past decade, as this amazing, unique waterfront park was envisioned and planned, it has always been known publicly that the site at Pier 6 would feature residential buildings. Now that a developer has been recommended (but not yet approved), discussion of our projected financial needs is critical.”

“As the Pier 6 public process continues,” added Myer, “it’s essential that the public have as much information as possible about what’s being proposed. We released BBP’s 50-year financial projections earlier in June to further inform this process, and announced our developer recommendation in that spirit also.”

This is the second time the board will be presenting these figures, which bolster the parks’ contention that a two-tower development at Pier 6 is necessary to fund the park. The board unveiled the presentation on June 11.

In updating its internal numbers, the board says it has refined its initial cost estimates or used different methods to compute them.

The presentation is posted to BBP’s website: www.brooklynbridgepark.org/pages/project-approvals-and-presentations.

 

 

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