An industrial tract in East New York is the linchpin of a plan by Mayor Bill de Blasio to bring more jobs and affordable housing to one of the city’s poorest neighborhoods.
The de Blasio administration intends to spend almost $17 million on infrastructure improvements and promote existing grants and low-interest development loans for the 105-acre stretch, one the smallest and oldest industrial business zones in the five boroughs.
City officials see the move, supported by community advocates, as a counterpart to a plan approved by the City Council in April that rezoned other parts of East New York for retail shops and apartments. The rezoning calls for as many as 6,000 residential units, with half expected to be rented below market rates.
Read more: After East New York Zoning Change, City Pushes Nearby Job Growth