Hunts Point Terminal Market is getting a $140 million boost as part of a broader economic development plan introduced by New York Mayor Eric Adams.
The improvements are part of a COVID-19 economic recovery plan, with $100 million earmarked for infrastructure projects at the produce market and another $40 million for city projects in nearby neighborhoods.
“This is more than a to-do list: It is a complete reset with more than 70 concrete actions we will take to tear down the barriers to progress and build up a strong, resilient city with opportunity for everyone,” Adams said, in a news release.
Specific projects and timelines were not detailed in the announcement and accompanying materials, Rebuild, Renew, Reinvent: A Blueprint for New York City’s Economic Recovery.
The plan was created in response to challenges presented by COVID-19, including the closure of more than 26,000 businesses, high unemployment rates, particularly in black communities, and tourism business far below pre-pandemic levels.
Watch the announcement, held in a cooler at Hunts Point on March 10:
