Officials: Governors Island needs $1B in repairs

Governors Island will need about $1 billion in improvements and repairs before its development potential can be realized, according to government officials. The city and the state bought the 172-acre island between Manhattan and Brooklyn for $1 from the federal government in 2004. Plans for the island have been bandied about ever since, but officials said Wednesday that $290 would be needed in infrastructure renovations, $60 million in building repairs to stop detrioration, and $650 million to make the island’s buildings usable. more [Sun]