The fountains in the park have become one of New York City's most famous attractions, and local residents and tourists will visit them. Most of the buildings around the park belong to New York University, some are built by New York University itself, others later become teaching and residential buildings. New York University will rent Washington Square Park as the venue for graduation ceremony, with arches as the main symbol, and the school hopes that the park will become the center of gravity of the campus. As early as 1922, the university predicted that they would take over the park for their own use, but it has not come true. Locals consider the park to be the most important site in their surrounding communities, so many large-scale events have been launched to preserve it