A US$168m (£92m, 133m euro) waterpark has been granted approval by the New York City Franchise and Concession Review Committee and is scheduled to open in May 2008.

The 26-acre park, to be built inside New York’s Randall’s Island city park, is expected to attract around 1.4 million people per year and is set to feature water slides, wave pools, a ‘lazy’ river and an indoor beach.

The project will be designed and built by the Aquatic Development Group (ADG), based in Cohoes, New York, who will also operate the park under a 35-year lease.

The idea for the park met opposition from the City Comptroller, William C. Thompson, Jr. – who raised questions about the way ADG was awarded the contract – and from residents who were concerned about the leasing of public land to a corporation as well as the proposed entrance costs to the park, which are expected to be around US$30 (£16, 24 euro).

Mr Thompson said: “I am very supportive of development on Randall's Island to serve the recreational needs of the City's residents and to attract tourist dollars to support sorely needed youth and community programs. I, however, do not support this agreement because it is the product of a seriously flawed process. This is a major project and should have been subject to fair and open competition."

ADG has previously designed and equipped facilities such as Massanutten Indoor Waterpark in Virginia, Mountain Creek in New Jersey and Six Flags sites in Texas, New Jersey, Massachusetts and Missouri. Details: www.aquaticgroup.com