Ahead of Schedule and Under Budget

Ahead of Schedule & Under Budget

TRUMP Renovates NYC Central Park's Wollman Skating Rink

The rink was closed in 1980 for a proposed two years of renovations at $9.1 million. Six years and $13 million later, after the problem-plagued work was still not completed by the city, Donald Trump persuaded Mayor Ed Koch to let him complete the work in four months at $2.5 million in order to have it open by the end of the year. 

Koch initially objected but later agreed to Trump's proposal when Trump offered to pay for the renovations himself with the stipulation that he be allowed to run the venue and an adjacent restaurant and use the profits to recoup his costs. The rink reopened to the public on November 13, 1986, with a ribbon-cutting ceremony and press conference attended by Koch and Trump, covered by national evening broadcast television news. Total cost of renovations by Trump came in under budget at $2.25 million.