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Purpose – This chapter will examine the role of Central Park in setting in motion certain practices related to park development as well as revolutionizing park financing in the mid-nineteenth century and again in modern times. It will examine the shift from public financing of parks to the development of public–private partnerships to design, build, fund, and administer urban parks.

Design/methodology/approach – The author takes an historical approach to put contemporary park debates vis-à-vis funding and administration in context. Archival materials are used to examine park financing models all over the country.

Findings – Central Park still continues to revolutionize urban park financing. Cities are cutting back on funding for public parks; as a result, there is a greater reliance on private financing options. Not all parks are in a position to rely heavily on private financing, and this raises questions about access to open space in cities.

Originality/value – The chapter raises questions about equity in the shift toward the private financing of urban parks. It extends the environmental justice discourse to examine open space issues. It examines long-term historical trends in helping the reader understand the contemporary state of urban park financing.