Data Points: Comparisons of Major Parks’ Costs To Tom Lee Park

Photo: Tongva Park

The reimagination of Tom Lee Park is part of a movement by cities to be smarter with their riverfront and in many occasions, the smart decision has been to build a unique and significant park.  In Memphis, a nationally significant park is costing $60 million.  

Out of curiosity, I researched the cost of a few well-publicized parks, determined their cost per acre, and calculated what the cost of Tom Lee Park would be at that rate.  Costs have not been adjusted for inflation. 

Here are the results:

If Tom Lee Park cost the same per acre as the following parks, here’s what it would have cost:    

$67.3 million  – York Quay, Toronto (2010)

$72 million – Maggie Daley Park, Chicago (2014)

$76.7 million – Toronto Central Waterfront (2015)

$84.5 million – Lurie Garden, Chicago (2004)

$66 million – Public Square, Cleveland (2016)

$135.9 million – Brooklyn Bridge Park (2010)

$79.9 million – Governors Island, New York (2010)

$120 million – Governors Island Hills + Art, New York (2016)

$225 million – Corktown Common, Toronto (2013)

$102.3 million – Louisville Waterfront Park Phase 1 (2000)

$112.5 million – Smale Riverfront Park I, Cincinnati (2012)

$103 million – Nashville Riverfront Park (2016)

$102 million – Ralph C. Wilson Centennial Park, Detroit (Underway)

$90 million – North Waterfront Park, Wilmington N.C. (2021)

$198 million – Hunter’s Point South Waterfront Park Phase II, New York (2018)

$171.5 million – Tongva Park, Santa Monica (2013)

$140 million – Downtown Riverfront Park, Eugene, Oregon (2022)

$199.3 million – A Gathering Place, Tulsa (2018)

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