Adams, Hochul Announce $3.5B Plan to Transform Brooklyn Marine Terminal

New York City Mayor Eric Adams, Governor Kathy Hochul, Representative Dan Goldman, and State Senator Andrew Gounardes have announced the passage of a historic $3.5 billion vision plan to redevelop the Brooklyn Marine Terminal (BMT) into a modern maritime hub and mixed-use waterfront community.

Backed by $418 million in city, state, and federal investments, the plan will convert the 122-acre site into a 60-acre all-electric port, 6,000 new homes — including 2,400 permanently affordable units — 28 acres of open space, as well as new commercial, industrial, and cultural facilities. The redevelopment is expected to generate $18 billion in economic impact, along with 37,000 construction jobs and 2,000 permanent jobs across multiple sectors.

Mayor Adams described the project as a “massive step towards the future,” saying it will deliver affordable housing, green jobs, and resilient infrastructure while positioning New York as a leader in the green economy. Governor Hochul added that the investment proves “growth, resiliency, and equity can go hand in hand.”

The plan was approved by more than two-thirds of the BMT Task Force after a year-long engagement with over 4,200 community members. It includes commitments to workforce development, expanded transit, and climate resiliency measures such as flood protection and stormwater management.

Under the framework, the Brooklyn Cruise Terminal will also be revitalized with public spaces and a potential 400-room hotel, while discounted industrial space will be made available to support local businesses. A new Brooklyn Marine Terminal Development Corporation will oversee implementation of the project.

The initiative is part of the Adams administration’s broader “Harbor of the Future” strategy, aimed at modernizing New York’s waterways, creating jobs, and advancing the city’s climate goals.