Billionaire’s Floating Park Coming to a River Near You

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Photo: Pier55, Inc./Heatherwick Studio

Billionaire and IAC chairman Barry Diller’s plan for a floating park on the Hudson River just won unanimous approval from the Hudson River Park Trust, clearing the way for the construction of the 2.4-acre park and concert space. Pier 55, the future park’s name, has a price tag of $130 million. Diller’s nonprofit foundation P55 will cover $113 million of that, along with the cost of maintaining the park for the next 20 years. The city will foot the remainder of the construction bill. The Army Corps of Engineers and New York State still need to okay the proposal, but if that goes through construction should begin in 2016. Until then, regular old parks will have to do.