Pier55, New York's first floating park, gets the go-ahead

Pier 55, the park that will float above the Hudson river, is slated to start construction this summer, after receiving approval from the U.S. Army Corps of Engineers. The 2.7-acre park was funded by the Hudson River Park Trust, an entity set up by Barry Diller and Diane Von Fürstenberg who personally put up $113 million dollars for the project.