Years ago, Jay-Z announced that he was bringing the Nets to his home, Brooklyn, New York, and now he has finally making visible progress. Yesterday, he, along with Gov. Patterson and several other key public figures held a press conference and broke ground on the property that is to be the new home of the basketball team. Says Jay-Z to MTV:

What I stand here and represent is hope for Brooklyn, New York City. I'm a son of Brooklyn, I'm from Marcy projects. I think about growing up in Brooklyn in the Marcy projects and shooting jump shots, thinking I can make it to the NBA. Now I stand here as an owner of team that's coming back to Brooklyn. The pride in that, and bringing that dream so much closer for people, brings me so much pride I get a little nervous about it. But I'm very happy, very excited about this day. And we did it again Brooklyn — shout out to [Notorious] B.I.G.

Although this will definitely be a good thing for Brooklyn, many are concerned that because of this new venture, the cost of living will grow to be too high for the current residents. We hope this doesn't turn out negatively.

Check out exclusive video from the conference when you continue reading.

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Jay-Z stays winning. Now let's home the Nets can do the same :-P