Local iwi helped with the design-led $2.8 million-$3.2m project, "so we are cherishing our history", Mr Clout said.
"We have a wonderful poem which celebrates our Pakeha history as well."
The whakatauki (poem) adorns the last tidal step before it dips into the harbour.
A handful of councillors including Bill Grainger planned to jump off the pier later this morning, after formalities.
"Fifty-three years ago I used to come down here when I was a kid and jump off the Coronation Pier. What better time then now to jump off here? Yeah, this is something special for me," he said.
Mr Grainger said he had been eagerly waiting for the project's fruition
"This is something fantastic," he said.
"We want to get people into the water. I've seen the kids week after week jumping off the pontoons further down and I've thought 'just you wait, you guys, you will have a ball'."
Councillors originally gave the green light to the project at a council meeting in December 2015, following feedback from the community, iwi and water users on the proposed concept.
The access to water project, which includes the new waterfront, has been developed in parallel with the Tauranga City Centre Spatial Framework - a visual representation of what the council wants public spaces and streets, and waterfront to be. A big part of this was the reconnection with water and access to the water.