Public Art Project's Impact at $69 Million

Olafur Eliasson’s "Waterfalls" public art installations around New York Harbor's waterfront generated an estimated economic impact of $69 million, exceeding the initial estimate of $55 million.

1 minute read

October 22, 2008, 10:00 AM PDT

By Judy Chang

"The work, commissioned by the Public Art Fund and presented in collaboration with the city, was the city's most ambitious public art project since 'The Gates,' the February 2005 installation by Christo and Jeanne-Claude, who festooned Central Park with saffron-colored fabric.

And yet, the 'Waterfalls' were not unquestionably good."

"'We always knew the Waterfalls was going to reinvigorate our City's waterfront - but its actual impact has exceeded our expectations,' Mr. Bloomberg said at a news conference at the Public School 1 Contemporary Art Center in Long Island City, Queens, where he was joined by other officials and by Mr. Eliasson. 'People didn't buy tickets or pass through a turnstile to experience the Waterfalls, but this exhibition brought people to areas of the city they might not otherwise ever have visited. We've always understood that we have to encourage big, bold projects that set our City apart, and this will be increasingly important while areas of our economy are struggling from the turmoil on Wall Street.'"

Thanks to rob bregoff

FULL STORY: City Puts ‘Waterfalls’ Impact at $69 Million

Tuesday, October 21, 2008 in The New York Times

Community / Economic Development Landscape Architecture Urban Development New York New York City Public Art Fund Art Benefits Public Finances Art Installation Water Sculpture View More

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