News
City Picks Up Latest Plot For Bushwick Inlet Park For $53M
March 11, 2016
Bushwick Inlet Park in Williamsburg, Brooklyn
The city’s picked up a seven-acre site it plans to incorporate into the new Bushwick Inlet Park for $53M. The site, at 1 North 12th St, was owned by the Bayside Fuel Oil Depot, which also owned a site at 1 Franklin St that the city picked up for $4.6M in 2014.
The park’s been coming together in pieces since the city first unveiled its plans for it in 2005, according to The Real Deal. Those plans called for 28 acres along Williamsburg’s waterfront.
Two sites were obtained through eminent domain in 2007. The city’s spent $300M on the project so far. Last March, it gave up on trying to acquire the site of the CitiStorage building, which caught fire in January 2015, because it was asking $500M for the site. [TRD]
