Surety Bonds

Constructing a Beach—In Manhattan!


On the radar for over 20 years, construction at Gansevoort Peninsula is underway, and when completed in 2023 there Manhattan will have a new ballfield—and a sandy beach Both are eagerly anticipated by Hudson River Park’s 17 million annual visitors.

Reclaiming Space, Building a Beach

While most of the four miles of Hudson River Park is built on piers, Gansevoort Peninsula is a 5.5 acre landmass. According to Hudson River Park, this land, previously used by the Department of Sanitation for truck parking, is in development as a large green oasis, complete with a resilient, soft-edged “beach” on the southern side. 

Construction is set to begin this spring, with an estimated cost of $70 million. Fast Company reports:

Designed by James Corner Field Operations (JCFO) — the same firm behind Domino Park and the High Line — the park will have some standard features, like a large sports field and a dog run, but the beach is going to be the thing here. The sand-covered sections of the site…are sure to become a prime sunbathing and Nutcracker-selling location. The site will also include added flood protections to the coastline, along with a salt marsh and access to a kayak launch.

“From the get-go, the Gansevoort Peninsula was a prize imagined for the overall park,” says Noreen Doyle, acting president and CEO of the Hudson River Park Trust, which was established to design, build and operate the network of parks along the river.

Doyle says the design manages to create a sense of separation between very different but closely packed spaces—an active sports field, a contemplative garden, a calm boardwalk, and a fun beach: “It will reconnect people to the water in a way I don’t think people thought would have been possible 10 or 15 years ago.”

Financial Self-Sufficiency

A unique approach to partnership has enabled the Hudson River Park to both operate—and grow, Since its inception in 1998, both the Hudson River Park—and the Hudson River Park Trust (established to design, build and operate the Park) function on the concept of financial self-sufficiency.

Private funds, like rent from commercial tenants and concession fees, as well as private donations and grants, support the care and operation of the Park. Public funds—“capital funding”—from the city, state and federal government appropriations support construction.


Partnerships for Contractors

With cities and states across the country greenlighting stalled, delayed and long-anticipated public works, contractors anticipate busy times ahead. Innovative collaborations and partnerships are a helpful way to dig into bigger possibilities.

For example, Colonial Surety Company’s Partnership Account®  is enabling contractors across the country to:


  • Gain control of bidding and bonding, online and in real time.
  • Utilize powers of attorney to seal and issue their own bid bonds—in minutes.
  • Compete with fast, confidential bid bonds—no middleman.
  • Order performance and payment bonds easily from a customized digital dashboard.
  • Track bids and work on hand in real time with free management reports.
  • Speak directly with Colonials lead underwriter as new opportunities emerge.
  • Leverage data on a private Owners Dashboard to view surety lines, adjust work on hand, analyze bids—and grow.

Learn more and pre-qualify for a Partnership Account now!

All contract companies that complete our brief pre-qualification application receive, for free, Dun & Bradstreet scores.  Those who pre-qualify for a surety line of credit, go on to upload a few more documents that help Colonial better understand their operation and underwrite the Partnership Account®.

Pre-Qualify and Receive Free Credit Scores Now!

Founded in 1930, Colonial Surety Company is a leading direct seller and writer of surety bonds and insurance products across the USA. Colonial is rated “A Excellent” by A.M. Best Company and U.S. Treasury listed.