Tourism is not an optional add-on to regional strategy—it is a foundational industry that creates jobs, attracts investment and pays for the public services the region’s residents value.
In addition to a revitalized port, the plan passed on Sept. 22 will also create 6,000 new homes—including 2,400 permanently-affordable units—as well as 28 acres of public space.
According to the New York State Gaming Commission website: the CAC for the Empire City project has scheduled a final vote on the $2.3-billion project on Thursday, Sept. 25 at 10 a.m.
In addition to a revitalized port, the plan passed on Sept. 22 will also create 6,000 new homes—including 2,400 permanently-affordable units—as well as 28 acres of public space.
NEW YORK—More than two-thirds of the Brooklyn Marine Terminal (BMT) Task Force has passed a historic vision plan to turn the BMT into a modern, maritime port and create a vibrant, mixed-use community along the Brooklyn waterfront.
With a $65-million state investment to support housing growth and build a future cold storage facility on-site—a total investment of $410 million made possible by city, state and federal governments—the proposal will transform the dilapidated marine terminal into a 60-acre, all-electric maritime port that can, once again, serve as a key economic driver for the community.
In addition to a revitalized port, the plan passed on Sept. 22 will also create 6,000 new homes—including 2,400 permanently-affordable units—as well as 28 acres of public space, 275,000 square feet of commercial space, 250,000 square feet of community facility space, and 225,000 square feet of light-industrial and industrial space.
The plan, which covers a total of 122 acres, will also deliver vital resiliency and infrastructure upgrades for the area while generating an estimated $18 billion in economic impact, 37,000 temporary construction jobs, and 2,000 permanent jobs. The Vision Plan adopted by the BMT Task Force serves as the foundation for all future investments and redevelopment at BMT.
“This bold, $3.5 billion vision will transform the Brooklyn Marine Terminal into a modern, all-electric maritime hub and a thriving new neighborhood — delivering good-paying jobs, affordable homes, and public amenities for generations to come,” Gov. Kathy Hochul said. “New York State is proud to stand with the city to make this once-in-a-generation investment in our waterfront, our economy, and our communities. Together, we’re proving that growth, resiliency, and equity can go hand in hand.”
New York City Mayor Eric Adams added, “Today, our city took a massive step towards the future. By approving this $3.5 billion vision plan, we will turn a crumbling marine terminal into a modern maritime port while creating thousands of affordable homes and tens of thousands of good-paying jobs. We’ll deliver the open space our city needs and keep New York at the front of the green economy. For years, naysayers have told us that the days of big ideas and bold initiatives were over, but New York City is proving them wrong. We’re turning our waterfront into a ‘Harbor of the Future’ and unlocking opportunity for generations to come.”
In the coming weeks, NYCEDC will form a Brooklyn Marine Terminal Advisory Task Force to guide the project through environmental review and development of a General Project Plan. NYCEDC expects the release of a draft Environmental Impact Statement and Empire State Development’s adoption of a draft General Project Plan in 2026. NYCEDC is aiming to release the first request for proposal for a long-term port operator by the end of 2026.
According to the New York State Gaming Commission website: the CAC for the Empire City project has scheduled a final vote on the $2.3-billion project on Thursday, Sept. 25 at 10 a.m.
The transaction is expected to diversify Compass by adding over $1 billion in revenue from Anywhere's established franchise, title and escrow, and relocation operations.
The 13-unit building traded for $846,156 per unit, which is a record for Mamaroneck and the second highest price per unit in Westchester County.
All members of the FOMC voted in favor of the 25-basis-point cut with the exception of newly appointed member Stephen I. Miran, who preferred to lower the target range for the federal funds rate by 50 basis points.
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