New London – City Pier reopened Saturday after a two-year, $5.2 million reconstruction project that replaced the main 350-foot structure for large vessels and rebuilt floating docks with tie-ups and utilities for about 20 smaller boats.

Eight sailboats and one powerboat owned by members of the Thames Yacht Club were tied up to the floating docks for the occasion, the first vessels to use the new facilities.

"Our waterfront is our greatest asset, and it's been underutilized," said Mayor Daryl Justin Finizio, after sharing a pair of oversized scissors with City Council President Michael Passero, former Mayor Martin Olsen and former City Manager Martin Berliner to cut a red ribbon to officially reopen the pier.

The reopening comes three weeks before OpSail 2012CT, which will bring more than 20 vessels to the city.