New York City's beloved Elizabeth Street Garden will be saved after a years-long battle to preserve it, sources tell CBS News New York's political reporter Marcia Kramer. The garden was set to close this spring and be replaced with affordable housing for seniors,

Randy Mastro, the first deputy mayor, called the deal to preserve the Manhattan garden a “win-win.” Backers of a longtime plan to build housing for older New Yorkers were livid.

The beloved Elizabeth Street Garden in lower Manhattan will be preserved under a new agreement between City Hall and a local councilmember.