Waterfront Construction Will Begin in 2015

Look, it's a park...overshadowed by a GIANT BUILDING (rendering of 77 Commercial St)

The notion that not one, but two parks, are coming to Greenpoint as early as 2015 may SOUND like good news. Who doesn’t love green space?

But, don’t forget to read between the lines.

On 5/2, Crain’s reported:  Construction on the first of two long-awaited parks along the Greenpoint waterfront is set to begin in 2015, spurred by money from the developers of two massive residential projects on the waterfront that were approved last year.

Stephen Levin expressed his support: “We’re very glad that these two major, open-space amenities that were committed to back in 2005 are finally moving forward,” said City Councilman Stephen Levin, D-Brooklyn.

Yes, green space is great. But it’s coming at the cost of skyscraper-height condos at 77-87 Commercial Street. To get these buildings approved, the developers, The Park Tower Group and Cherit Group, contributed millions, $12.5 million collectively, to fund the construction of Newtown Barge Park and Box Street Park. The city agreed readily. Why would they fork over the funds for a park if someone else wants to foot the bill?

The Chetrit Group is expected to purchase air rights from the Box Street Park site for roughly $8 million, which will be used to help fund construction, according to an amendment in the Crain’s story.  Box Street will be constructed a year after Newton Barge Park, in 2016.

And if the parks are being built, we can only assume that the buildings will follow suite? Only time will tell. But don’t let the word “park” fool you.

Until then, don’t forget…