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It doesn't always happen that the community's favorite developer also brings in the most money. But that's the story with the latest proposal for Pier 57 at 15th Street, according to the Hudson River Park Trust.

The board of directors conditionally selected the Manhattan firm "YoungWoo and Associates" to develop the pier. Trust president Connie Fishman says the developer offered more money than two rival bidders.

FISHMAN: We don't get city parks department money, we don't get state department money so we survive on the the rents we bring in from redeveloping some of the vacant pier buildings.

REPORTER: Fishman wouldn't divulge details about the rent payments because they're still under negotiation.

Youngwoo's proposal will bring in the Phillips auction house to turn part of the pier into contemporary art galleries. The Tribeca Film Festival will program a movie theater. A two-acre park will be built on the pier's roof.

A deal with a different developer fell apart last year.