GREENPOINT - A controversial new waterfront development is one step closer to becoming a reality after the city approved plans for the Greenpoint Landing project this week.

The plan includes a school, several shops, green space and 5,000 homes.

The City Planning Commission gave the proposal the green light, making the north Brooklyn development one of the last big projects approved under the Bloomberg administration.

While the city's approval is a big step forward, it's not the final step. The plans still must still be approved by the local community board, which has previously expressed some concern about the new development.

Many Greenpoint residents have expressed fears to the community board that low-income housing is diminishing in the working-class neighborhood.

A spokesperson for developer Park Tower Group told News 12 Brooklyn that the plan includes 431 affordable housing units.