Watchtower to Fund Brooklyn Bridge Park

By , 3 August, 2011, No Comment

Back in March, we ran a post about the funding for Brooklyn Bridge Park–and lack there of. The fight for building more housing in the well-used park has been on-going, with some factions hoping for none and some banking on more to pay for further construction and upkeep. Of course, like Congress bickering over the debt ceiling, the truth lies somewhere in the middle. This week, a deal was made that would promise fewer luxury condos inside the park’s outlines. According to the Brooklyn Paper,

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State Sen. Daniel Squadron (D–Brooklyn Heights) and Assemblywoman Joan Millman (D–Carroll Gardens) accepted a slightly smaller luxury building on John Street in DUMBO in exchange for a Bloomberg Administration flip-flop to allow future tax revenues from the 30 properties owned by the tax-exempt Watchtower Bible and Tract Society to fund the park if those buildings are sold and return to the tax rolls.

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If all those buildings are sold, then we won’t have any more condos at Pier 6 and they’ll have more revenue to move ahead with building up the other piers. But, those properties (on which the Jehovah’s Witnesses don’t currently pay taxes, by the way) don’t go on the market until 2014. Oh well, looks like it’s going to be a while before we see our floating pool . Maybe it won’t be so hot next summer. Not.

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