City Adds $27M for Hunts Point Economic Development

HUNTS POINT, NY-To spur business development here, the city has committed an initial investment of $27 million to implement the Hunts Point Vision Plan. The city has already invested $110 million at the Hunts Point Fish and Produce Markets. The goals of the Hunts Point Vision Plan includes developing new waterfront parks, improving traffic safety, upgrading street lighting, repaving streets and improving the rail freight lines serving the area.

“It’s also true that this part of the city can be doing better,” says Mayor Michael Bloomberg. “This new vision of Hunts Point will attract and grow businesses, put people to work and make the community a more vibrant place to live.” The Hunts Point Peninsula has an area of approximately 690 acres, with almost half made up of the 329-acre Food Distribution Center. Much of the New York region is fed by the center, which has more than 115 wholesalers that generate revenue of more than $3 billion a year. There are a number of new developments in the center including the opening of the $85-million Fulton Fish Market this spring and the already developed $25-million Produce Market.

The Department of City Planning will rezone the area to encourage the growth and expansion of the food-related industry. The rezoning is also intended to protect the adjacent residential neighborhood, while discouraging the expansion of waste-related uses in sensitive areas.