New York City has already allocated $760 million toward East Side Coastal Resiliency. This includes funding from the U.S. Department of Housing and Urban Development, which provided the city with $338 million in Community Development Block Grant – Disaster Recovery funds.

The cost of the project has now increased to $1.45 billion under the revised design, according to multiple press reports.

The adoption of the new design follows a value engineering study performed earlier this year and a review of the project by a panel of experts. The new design shifts much of the heavy construction work away from residents who live near the FDR Drive toward the waterline, reducing construction noise in the community. It will also reduce traffic disruptions and night-time lane closures during construction. The new plan also makes it possible for construction materials to be brought to the site by barge, city officials note.

The updated plan will allow the city to provide better connections to an improved East River Park. The design of the project will now also accommodate a separate project to address the East River Greenway pinch point near the Con Ed facility (known as the Flyover Bridge). As previously planned, the project will also replace the Delancey Street and East 10th Street pedestrian bridges, and create a Houston Street entry plaza with a direct connection to the water.

The revised plan will now be presented to elected officials, the Community Board, and other neighborhood stakeholders at upcoming meetings this fall.