[via NY1 News] The Phun Phactory, New York city’s largest showcase for graffiti artists, reopened in Williamsburg, Brooklyn [this past] Saturday [June 19th] after closing in 2001. More than 60 artists, including some premiere aerosol artists, [came to the event known as “Old Tymers Day” located] at the group’s new permanent space on North 15th Street and Wythe Avenue in Williamsburg. Organizers at the Phun Phactory are seeking and working towards creating the world’s largest outdoor aerosol mural as a hommage to Iz the Wiz: “today is in tribute to [Iz] and our relaunching, so it all kind of fell together” said Phun Phactory founder Pat Di Lillo. 
.”It’s a good feeling, because we’re definitely old writers here. ‘Ink,’ ‘Best,’ ‘Venom‘ — these are writers who used to tag up the [subway] line,” said “Mr. R.M.O.D.,” a graffiti artist. “And now we’re all together, we haven’t seen each other since we was kids [sic]. It’s like a family reunion. We wanted to do it somewhere where we got permission to express, take your time and really show your talent.”New York City does not acknowledge that they themselves started this art movement. So the significance of relaunching the Phun Phactory is creating a platform, an international platform for aerosol art to have exposure,” said Phun Phactory director Jeremy Vega. Their goal is to show the up and coming generation that graffiti should be respected.
 Article by NY1 News click here for original article
More History on the Phun Phactory: (from Phun Phactory official site)
The Phun Phactory was founded in 1993 by Pat DiLillo. The project first occupied an industrial area of Long Island City, Queens, directly across from the MoMA/P.S. 1 Museum. Through out its history The Phun Phactory attracted celebrated artists from around the world and served as a backdrop to countless movies, advertisements and events.
The new Phun Phactory project will convert an entire industrial zone on the Brooklyn water front into an outdoor mural art gallery- A neighborhood of art. The scale of this project will stimulate the New York City art scene. Artists will have an outlet to further their careers and art lovers will have a place to experience these works as if they were in the studio with the artist.
-The Phun Phactory (click here for link)
Image(s) credit to Phun Phactory