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On May 11, 2005, New York City's Department of City Planning approved a rezoning of 175 blocks in Greenpoint and Williamsburg.
According to the project's Environmental Impact Statement, the rezoning is expected to bring approximately 16, 700 new residents to the neighborhood by 2013 in 7, 300 new units of housing.
of new retail space are projected, along with a corresponding loss of just over of existing industrial capacity.
The rezoning also includes a waterfront park.
Included in its requirements are provisions for a promenade along the East River, built piecemeal by the developers of existing waterfront lots.

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