Lower Manhattan Development Corporation Chairman Avi Schick joined with New York City Parks and Recreation Commissioner Adrian Benepe to break ground on a brand new park in Lower Manhattan, CaVaLa Park in TriBeCa.

The $3.3 million park project, bounded by Canal, Varick and Laight Streets, is funded by a $2.4 million grant from the Lower Manhattan Development Corporation (LMDC) in addition to $500,000 from the Paul and Irma Milstein Foundation and $396,000 from the Office of the Mayor. The LMDC grant utilizes funding provided to the City by the U.S. Department of Housing and Urban Development (HUD) in the aftermath of 9/11.

“We at LMDC are committed to providing outstanding parks, playgrounds and open spaces for the residents and visitors of Lower Manhattan. This once business-only district has become a 24/7 thriving community that people not only work in but live in and play in,” stated Avi Schick, Chairman, Lower Manhattan Development Corporation. “LMDC has helped promote the belief that to have a truly outstanding community you must create outstanding amenities and this park will be a tribute to that belief.”

“CaVaLa Park will provide residents of TriBeCa with a brand new, much-needed open space and its benches, plants and spectacular fountain artwork will offer a welcome respite to all who visit this historic neighborhood,” said Commissioner Benepe. “Lower Manhattan is turning greener than ever, and thanks to our partnership with the Lower Manhattan Development Corporation, we’ve revitalized nearly 30 parks and green spaces from the Battery to Chinatown. Today’s groundbreaking at CaVaLa Park represents $300 million invested to create and refurbish green spaces in lower Manhattan since 2001 with the support of HUD and LMDC.”

“HUD is delighted that its funds will be used to create an urban park to provide joy and relaxation for Lower Manhattan residents and wishes to congratulate Mayor Bloomberg, Parks Commissioner Benepe and LMDC Chairman Schick on the creation of such an important community resource,” said Sean Moss, HUD regional director for New York and New Jersey.

The new half-acre park will serve as a green gateway to New York City and Lower Manhattan and will feature lawns, ornamental plantings, benches and decorative pavements. The perimeter sidewalk will be planted with new street trees. The park’s centerpiece will be a large sculptural water feature, designed by artist Elyn Zimmerman, who was inspired by the canal that once ran along the street in the early 1800s. Funding for its creation has been greatly assisted by the donation from the Paul and Irma Milstein Foundation.

CaVaLa Park is part of the Open Spaces II sub-recipient agreement between the New York City Department of Parks and Recreation and the LMDC in the amount of $20,270,000, in which seven open spaces in Lower Manhattan are being revitalized. The other parks included in this agreement are James Madison Plaza, Sara D. Roosevelt Park, Allen/Pike Malls, Collect Pond Park, Washington Market Park and the Battery Carousel. CaVaLa Park is one of the 30 plus parks and open spaces that LMDC has aided in the revitalization or creation since 2001.