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Revision as of 22:13, 29 January 2003 by Dachshund (talk | contribs) (rephrase)(diff) ← Previous revision | Latest revision (diff) | Newer revision → (diff)Battery Park City is an area at the southwestern tip of Manhattan in New York City. The land upon which it sits was reclaimed from the Hudson river using 1.2 million cubic yards of dirt and rocks excavated during the construction of the World Trade Center. The 90-acres of Battery Park City, which include the World Financial Center along with numerous housing, commercial and retail buildings, are named for adjacent Battery Park.
Battery Park City is owned and managed by the Battery Park City Authority, a public entity that is not controlled by New York City. Excess revenues from the area are contributed to other housing efforts, typically low-income projects in the Bronx and Harlem.
History
During the early 1960s, the area upon which Battery Park City now sits was the location of a number of shipping piers on the Hudson River. The proposal for Battery Park City was presented by Governor Nelson Rockefeller in 1966. The creation of architect Wallace K. Harrison, the proposal called for a 'comprehensive community' consisting of housing, social infrastructure and light industry. In 1968, the New York State Legislature created the Battery Park City Authority (BPCA) to oversee development.
For the next several years, the BPCA made relatively swift progress. In 1969, it unveiled a master plan for the area, and in 1972 issued $200 million in bonds to fund construction efforts. By 1976 the landfill was completed; in many cases, the pre-existing piers were simply buried.
Construction efforts ground to a halt for nearly two years beginning in 1977, as a result of city-wide financial hardships. In 1979, the title to the landfill was transferred from the city to the BPCA, which financially restructured itself and created a new master plan.
The first residential building began construction in 1980, followed in 1981 with the start of construction on the World Financial Center, which saw its first tenants in 1985. Throughout the 1980s, the BPCA oversaw a great deal of construction, including the entire Rector Place neighborhood and the the river Esplanade. In the early 1990s, Battery Park City became the new home of the Stuyvesant High School. By the turn of the century, Battery Park City was mostly completed, with the exception of some ongoing construction on West Street.
The 2001 World Trade Center Attack had a major impact on Battery Park City. The area, which was already facing challenges attracting residents, was now afflicted with the negative environmental and marketing difficulties as a result of its proximity to the Trade Center Site. The effect of the attacks on the city budget may also have a negative effect on the area.