On Friday, May 3 — almost one year after he succumbed to cancer — late, great Beastie Boy Adam Yauch will be honored by his former borough of Brooklyn ... with a playground named in his memory.

The Palmetto Playground, located in Brooklyn Heights, will be renamed Adam Yauch Park, a spokesperson for the New York City Department of Parks confirmed to MTV News. A ceremony is set for Friday at 11 a.m., and will be attended by Beastie Boy Adam "Ad-Rock" Horovitz, Yauch's parents and family members, Brooklyn Borough president Marty Markowitz and state senator Daniel Squadron who last year penned a resolution that paid tribute to Yauch's many contributions to New York City.

"Adam Yauch grew up in Brooklyn Heights, on State Street, and learned to ride a bicycle in the park that will now bear his name," the Parks Department said in a statement. "A pioneer in the worlds of music, social activism and film, Yauch was not only a founding member of the Beastie Boys, but also established the Milrepa Fund that produced the Tibetan Freedom Concert benefits, and created the film-production and distribution company Oscilloscope Laboratories."

Rumors of the playground's re-naming were first reported on the Brooklyn Heights blog. According to the Parks Department, Adam Yauch Park features both full and half basketball courts (fitting for the lifelong hoops fan who directed the 2008 doc "Gunnin' For That #1 Spot"), plus a community garden, greenhouse, fitness area and a dog run, to name a few of the amenities.