Aiming to replicate the success of the city’s South Boston waterfront development, Boston Mayor Thomas M. Menino unveiled plans for a development district and marine terminal in East Boston.

In his annual speech to the Boston Chamber of Commerce, Menino announced a new vision for the Boston’s waterfronts, outlining the first "Municipal Harbor Plan" in 20 years – a plan which 20 years ago paved the way for transformative projects including the Rose Kennedy Greenway and harbor cleanup.

"Our waterfronts – all of them – have enchanted Bostonians since the city’s earliest days. This new Municipal Harbor Plan is about how we can continue to reinvest in our harbor and waterfronts so they continue to thrive for the next generation," Menino said. "We pushed past false starts and economic uncertainty in the South Boston waterfront, and today that area is home to a thriving Innovation District. Now, as the economic climate continues to improve, we are focusing our resources on East Boston with plans to jump-start development there."

His plan for district improvement financing will allow the city to invest up front in infrastructure and recoup the cost later through tax revenue. Another facet of the plan will focus on improving access to water transportation between all of Boston’s waterfront districts so commuters can travel between Boston’s waterfront neighborhoods.

The city will finance a new East Boston Marine Terminal at Maverick Square in an effort to make water transportation a more accessible and convenient option

"The city stands ready to invest to create jobs and new opportunity in East Boston. But we need our partners to dig deep, too. Together, we’ll make sure people standing downtown, looking across the harbor at East Boston, no longer see just potential, but progress," Menino said.

He also proposed improvements for the Black Falcon cruise ship terminal located in South Boston. The terminal has been busier than ever in recent years, welcoming more than 300,000 visitors to the city of Boston annually. The Mayor pledged to work with Massport to make Black Falcon a world class cruise terminal and a worthy entryway to the city of Boston.

In addition to his waterfront plans, Menino also highlighted some of the impressive progress the city of Boston has experienced. Highlights include:
• Boston’s job growth of 2.1 percent is outpacing the state’s and almost doubling the nation’s
• There is $2.4 billion dollars worth of total development currently underway in Boston
• Boston added 1.2 million square feet of office occupancy over the first three quarters of the year
• In the third quarter of 2011, Boston has seen more than 1,000 new housing units start construction – the most since 2006
• Hotel revenues are up 5.3 percent compared to last year
• Boston is home to the largest privately-financed construction project in the country – the future home of Vertex
• Plans for Dudley Square revitalization continue to move forward, with more than $115 million in investments and a groundbreaking in the spring
• The city launched the successful New Balance Hubway bike share system and this year reached 50 miles of installed bike lanes