NEW YORK - Plans to build a futuristic pier on the Hudson River have fallen apart.

Media mogul Barry Diller was all set to build "Diller Island" near West 13th Street.

The $250 million project would have been paid for entirely by Diller and run by the Hudson River Park Trust.

Construction has been delayed for years after a series of lawsuits from environmentalists, backed by a dueling billionaire developer, Douglas Durst.

Recently, it appeared those issues were resolved.

But this week, Diller sent an email to supporters saying he's scrapping the plan because of escalating costs.

A lawyer for the opposition says he was surprised by the decision, and the head of the Hudson River Park Trust says she's deeply saddened. 

The Trust now has to to see if it can come up with a new plan and the money to build a new pier.