The Real Deal New York

EDC gives go-ahead to the Lowline project on the LES

Developers of proposed park plan to raise $10M
July 14, 2016 02:30PM

The existing terminal and rendering of the Lowline (inset: Alicia Glen)

The existing terminal and rendering of the Lowline (inset: Alicia Glen)

The city gave the green light for the Lowline project – the underground park proposed to be built in an old trolley terminal beneath the Lower East Side.

The city’s Economic Development Corporation on Thursday approved the project, which is planned for the abandoned terminal underneath Delancey Street, according to the New York Post.

“For 80 years, this underground space has sat idle,” Deputy Mayor Alicia Glen said. “Now we’re putting it to use for the people of the Lower East Side and for all New Yorkers to enjoy. We can’t wait to see this experiment unfold.”

Lowline co-founders James Ramsey and Dan Barasch, who first put forward the idea back in 2011, still need to raise about $10 million for the park, and the city has not yet committed to kicking in any funding.

Last year the duo raised almost $224,000 through a Kickstarter campaign. They also published an economic-impact study that estimated the park could raise land values by somewhere between $10 million and $20 million.

The project’s engineers are looking to solar technology to create a veritable garden in the underground setting. [NYP]Rich Bockmann