NYC Reaches Agreement To Redevelop Brooklyn Waterfront

By FrumNews.com

Borough Park, Brooklyn — Standing along the Brooklyn waterfront, just west of Boro Park, Mayor Eric Adams, Governor Kathy Hochul, and Port Authority officials of NY and NJ announced a new agreement to revitalize the 122-acre Brooklyn Marine Terminal into a modern port and a community hub with housing, shops and offices.

Brooklyn’s harbor once housed a vibrant and busy port, but with the arrival of larger container ships and manufacturing centers moved most of the port activities to Newark—which has a deeper harbor and larger ports. In recent decades, the space has remained dormant, and the city now wants to revitalize the region.

According to the Mayor’s office, the “complicated agreement between three entities made every single move very difficult, and it allowed what was once such a burgeoning port to deteriorate to such a point where it was not making enough revenue to even to make it even worth the upkeep.”

The agreement will enable the city to transform the Brooklyn Marine Terminal into a modern maritime port with a vibrant mixed-use community hub. It also allows the Port Authority to drive the long-term expansion of Howland Hook Marine Terminal in Staten Island. The mayor said that CMA CGM has committed to boosting the Howland Hook capacity by 50 percent over the next seven years, allowing it to handle over 750,000 container lifts each year.

The Brooklyn waterfront builds on Mayor Adams’ efforts to develop a “Harbor of the Future” — an initiative the Mayor announced earlier this year to reimagine New York City’s waterfront.

“For 20 years, skeptics thought this deal couldn’t get done, but our administration prioritized the ‘Harbor of the Future’ and now we have the potential to create thousands of new jobs, generate billions in economic impact, and build a vibrant mixed-use neighborhood and modern maritime port focused on getting trucks off the roads,” said Mayor Adams. “By assuming control of the Brooklyn Marine Terminal in Red Hook in our city government’s largest real estate transaction in recent memory, our administration is demonstrating that we will continue to deliver big wins for New Yorkers, day after day.”

“Today’s announcement marks the next great chapter for Brooklyn’s storied waterfront and is a win for the people of New York City,” said Governor Hochul. “The transfer will allow the city, working in close partnership with the community and my administration, to begin the long-anticipated process of reimagining the Red Hook piers as a modern maritime facility that also serves community needs. Our partners at the Port Authority will ensure that the marine terminal at Howland Hook remains a thriving shipping hub, building upon the recent landmark announcement of $200 million in private investment to ensure that facility’s strong future.”