Pier55 Floating Park Begins Construction This Summer

Pier55, a floating park designed for New York's Meatpacking District, will begin construction this summer. The 2.7-acre park funded partly by Barry Diller and Diane von Furstenberg's $113 million nonprofit received the final go-ahead from the U.S. Army Corps of Engineering, the Hudson River Park Trust announced Wednesday.

"We are excited to be in a position to start construction,” Chief Executive Madelyn Wils of the Hudson River Park Trust said.

The park will be constructed on pilings in the Hudson River. It will consist of grassy hills with an open-air stage and a venue area for large events.