The approval came as a ribbon-cutting ceremony for Bank of NewYork's move into a 10-story, 396,000-sf tower above the AtlanticTerminal transit hub was held. Prior to Sept. 11, 2001, the bankoccupied 2.5 million sf of office space at several locations inLower Manhattan.

The bank's move builds on more than seven million sf ofcorporate office space created in the past two decades. The planenvisions the creation of three new office towers with as much asthree million sf in addition to an 848,000-sf office developmentanchoring the west end at Boerum Place. The plan also calls for newresidential and office opportunities throughout the Downtown area,a mixed-use cultural district with a library, theaters, galleriesand rehearsal spaces.

The city worked with representatives from the local community toaddress quality of life improvements, including traffic managementand parking facilities. The public review process began in April,2003. Several changes were made to the plan during the publicreview and approval process; for example, height limits wereestablished on development on the east side of the Flatbush AvenueExtension from Myrtle Avenue to Willoughby Street.