Value proposition

The Trust is a public benefit corporation created by act of the New York State Legislature and a 501(c)(3) charitable organization. The mission of the Trust is to design, construct and maintain a prominent, and very heavily used, 4 mile long waterfront park on the west side of Manhattan. The Park includes landscaped public piers and display gardens, lawn areas, ecological planting zones, athletic fields, esplanades, docks, public sculptures and other special features. Also located within the Park are several commercial facilities, including the Pier 40 parking garage, Pier 57, Circle Line excursion piers and Chelsea Piers.

The Trust covers its $18.5 million annual operating budget through parking revenue, rents, permits, fees, grants, donations generated by a “Friends” organization and other private sources. Approximately 73% of the Park has been constructed with a mix of State, City and Federal capital funding. Total investment in all facilities within the Park is approximately $583 million.