"In my first State of the City address, I pledged that we would reclaim New York City's shoreline and bring new life to our long neglected waterfront.  Few other initiatives in our five-borough economic development strategy deliver on that commitment like the dramatic step taken today.

"This comprehensive rezoning for Greenpoint and Williamsburg sets the stage for renewal of a largely abandoned and derelict stretch of the Brooklyn waterfront.  It opens two miles of precious waterfront to create 54 acres of open space, including a continuous public esplanade and a 28-acre park, while also preventing inappropriate heavy industrial uses.  The plan creates 10,800 new units of much-needed housing, and through a powerful combination of zoning incentives, housing programs, and city-owned land, 3,500 of those units will be affordable housing.

"The rezoning also encourages the growth of the industrial sector through a series of policy initiatives and financial commitments including the designation of an Industrial Business Zone (IBZ), the establishment of a relocation fund for local businesses, and a commitment to work with Councilmembers Reyna and Yassky to identify further land use actions that will enhance the business environment in the area to the east of the Buswick Creek Inlet.  And the new Mayor's Office of Industrial and Manufacturing Businesses will be charged with making sure that local businesses are fully aware of available services and resources.

"We are committed to creating economic opportunity for everyone in this great City.  The Greenpoint-Williamsburg plan, which will create 11,000 construction jobs and 600 permanent jobs over the next ten years and $1.5 billion in private investment, is the result of our successful collaboration with the City Council, and a plan that will benefit not only these neighborhoods but the City as a whole for generations to come."