“Philanthropist/reclusive millionaire” Joshua Rechnitz’ plan to bring a $50 million velodrome to Brooklyn Bridge Park is kaput reports the New York Times:
NYT: For cyclists, it is a velodrome dream deferred. For some Brooklyn residents, who balked at the use of an outsize park parcel for a niche sport, it is good riddance.
But in the end, supporters said, the neighborhood was just too expensive.
The decision to abandon the Brooklyn park, reached at a meeting on Monday, came after planners were unable to produce a design that could fit within the bounds of Mr. Rechnitz’s $50 million pledge for its construction and maintenance, despite months of efforts.
“You can’t build a facility of this nature, at this site, at this budget,” said Greg J. Brooks, the executive director of N.Y.C. Fieldhouse, the nonprofit group behind the project. “We’re very excited and eager to find a new home for this recreation center and velodrome. The funding remains intact.”