Construction on Pier 55’s Floating Park Will Begin This Summer

Construction on the futuristic Pier 55 project will get underway this summer after the proposal received the final approval to move forward, Crain's reports, based on an announcement made by the Hudson River Park Trust.

The U.S. Army Corps of Engineers gave the 2.7-acre park, which is located on the Hudson River, close to Chelsea Market, the final go ahead it needed on Wednesday.

Earlier this month, the developers behind the project fought off a lawsuit filed by the City Club of New York to halt the project, and now the Hudson River Park Trust has announced that construction will begin sometime this summer.

The park, which will also include space for events and a stage, is being largely funded by Barry Diller and Diane Von Furstenberg, who have contributed at least $113 million towards the park's construction. The project itself is being developed by a non-profit created by the couple, working in collaboration with the Trust.