Danish artist Olafur Eliasson has brought waterfalls to the City, believe it or not. His public art project, which was inaugurated Thursday, June 25, includes four waterfalls that will be cascading into the East River and New York Harbor until October 13.

Mayor Michael Bloomberg admitted Thursday, at the official opening of the art project, that he had initially been taken aback by the idea. “What on earth are you talking about?” was his first reaction, he confessed during a news conference, as quoted by Reuters.

However, Bloomberg’s enthusiasm regarding the waterfalls has meanwhile reached respectable heights, as he explained that New York City’s historic harbor has been turned into “the most unexpected and intriguing waterfall destination between Niagara Falls and Victoria Falls.”

Bloomberg also predicted that residents of NY and tourists attracted by the unusual display, which cost $15.5 million to be created, will bring an estimated 55 million in economic activity for New York City.

The project was funded by private donations and a $2 million grant from the Lower Manhattan Development Corporation.

Eliasson, collaborating with the Public Art Fund, worked for two years on his unique art installation. The four man-made waterfalls have been placed around New York City, three of them cascading into the East River and New York Harbor, while the fourth flows under the Brooklyn Bridge.

“The New York City Waterfalls” is the most expensive public arts project since Christo and Jeanne-Claude’s installation of “The Gates” in Central Park. That particular project drew some 1.5 million visitors to the city in February 2005.

Eliasson said Thursday he was relieved to have finally completed the art installation, which is ecologically friendly, calling its making “a journey” and “a big challenge.”

The cascades, ranging in height from 90 to 120 feet, will run from 7 am to 10 pm, under illumination after sunset.