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Mayor Michael Bloomberg, Governor David Paterson and others welcomed the first 24 massive granite stones that will form the foundation of the Franklin D. Roosevelt Four Freedoms Park.

They also signed their names into a cement plate that will be incorporated into the park.

The project, on the far southern tip of Roosevelt Island, was first conceived 40 years ago, but was shelved during the fiscal crisis of the 1970s.

Construction began back in March and the project is scheduled for completion in 2012.

"When completed, this whole area will demonstrate a panoramic view of New York's skyline, and for Roosevelt Island residents and visitors, will be an oasis," said the governor.

"I think this is more than just a park. I really do think this is to remind us of somebody who at a pivotal point in our history, rallied the country, and got us all together. And remember, defending Europe against the Nazis was not a popular position at the time," said the mayor.

The four-acre park will be the first memorial to FDR here in his home state of New York.