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Fieldhouse Of Dreams: Donor Underwrites $40M Brooklyn Bridge Park Facility!
By
Garth Johnston
Published Apr 19, 2012
Modified Apr 19, 2012
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By
Garth Johnston
Published Apr 19, 2012
Modified Apr 19, 2012
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Brooklyn is getting itself a massive new field house, and it won't cost the borough of Kings a penny. The Brooklyn Bridge Park Corporation today announced that a non-profit corporation has offered to underwrite the design and construction of a year-round recreation facility for the park on Furman Street off Pier 5. Estimated cost of the project? $40 million.
"This is vindication for 7 long years of community activism to secure year round recreational facilities in Brooklyn Bridge Park," Judi Francis, President of the coalition of community associations that organized 30 years ago to secure a public park along the shores of the east river under the Brooklyn Bridge, happily crowed.
If things go well, the BBPC hopes to break ground on the new facility in the summer of 2014 and have it up and running 18-24 months after that. Here's how the BBPC describes what they want to build:
The Fieldhouse is envisioned to include a 115,000 sq. ft. indoor recreation center with a 200-meter inclined track for cycling and a 22,000 sq. ft. infield for high school, collegiate, club-level and professional sporting events, such as basketball, tennis, track cycling, volleyball, and gymnastics. It also includes key amenities for the park such as a public boathouse, public restrooms, and maintenance and operations space for BBPC.
As for how the facility will pay for itself, it plans to do so with funds from activities and events. Further, the donor (the New York City Fieldhouse Inc.) has agreed "to underwrite any shortfalls in operating revenue incurred by the facility for the first 10 years. However, should excess revenue exist, the funds will be used to establish an Operating Reserve Fund equal to one year’s operating and maintenance expenses."
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good news everybody!
Garth Johnston
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