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Moscow to Rebuild Gorky Park for $1 Billion, Kommersant Says

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Sept. 9 (Bloomberg) -- Moscow plans to rebuild Gorky Park for $1 billion, which may be financed in part by private investors, Kommersant said, citing Mikhail Khubutiya, an adviser to Mayor Yuri Luzhkov.

The Stalin-era fountain in the middle of the park will be preserved, Kommersant reported. The plans include a modern art center, a concert hall and restaurants and leave out the park’s Ferris wheel, which was dismantled in 2008, the newspaper said.

Luzhkov is seeking to increase the number of visitors to Gorky Park from about 3 million a year now, the newspaper said.

Story link: {NSN L8GPB06S972D<GO>}

To contact the reporter on this story: Ilya Khrennikov at ikhrennikov@bloomberg.net

To contact the editor responsible for this story: Torrey Clark at tclark8@bloomberg.net