A legal settlement that would hand control of an elevated railway known as the Sixth Street Embankment in New Jersey from a Manhattan developer to Jersey City authorities could allow for the construction of the state’s own High Line Park, the Wall Street Journal reported.
While New Jersey officials have long pushed to have the mile-long structure transformed into a landscaped park, the patch of railway has been caught up in a lengthy legal battle spawning from the sale of the prospective park to Manhattan investor Steve Hyman, the Journal said, who wished to build housing at the site. Hyman purchased the embankment from Consolidated Rail for $3 million in 2003; Jersey City then sued Consolidated for selling the land and Hyman sued the city for throwing a wrench in his plans.
“This has been an epic legal struggle,” said William Matsikoudis, municipal attorney for the city. “We’re one step away from a settlement that will provide a world-class amenity for the people for Jersey City.
According to the terms of the settlement, the city would settle with Hyman for $7 million and Conrail would contribute $13 million to settle pending litigation. [WSJ]