P l a n N Y C | Planning Information Portal

Community Plans Protest of City’s Coney Island Plans

Wednesday, May 07, 2008 | New York Post | Topic: General

Community organizations have announced that they plan to protest the revised rezoning plan for Coney Island at the May 22 opening of the neighborhood’s beach and amusement park. Protestors argue that the rezoning plan, which reduces the 15-acre amusement park to 9 acres, will turn the area into a “Mall of America.” The City believes the new plan will create a “significantly expanded and enhanced amusement district.” The city altered its plans when it was not able to acquire land from private owners.

City, Landowner Clash Over Retail Zoning at Coney Island

Tuesday, April 29, 2008 | New York Observer | Topic: General

Joseph Sitt, who owns most of the land on which Coney Island is situated, is battling with the City over the development of his property just north of an 9 acre area zoned for amusement. Sitt is concerned about the types of retail that will be allowed under the zoning proposal – he thinks that the City’s proposal is too restrictive and will scare off potential tenants and investors. The City believes that the proposed restrictions are broad enough to allow in a number of stores while still keeping the area unique. The City has suggested that national retailers that have a common theme would be most suitable for the space.

City Unveils New Plans for Coney Island

Thursday, April 17, 2008 | New York Times | Topic: Land Use

The City has released updated plans for Coney Island in an attempt to create a “year-round attraction.” City officials hope that the new plan will appease both area landowners and elected officials. The revised plan proposes to cutback the amount of city-owned open-air amusement space from 15 acres to 9 acres. The plan will still include a significant amount of retail and up to 5,000 units of housing. The City plans to purchase land from current property owners in order to develop a “permanent amusement district.” These owners, including Thor Equities and the Vourderis family, would be permitted to develop their unsold land as long as it complies with the City’s master plan.

Coney’s Parachute Redesign Costs $4 million

Friday, April 11, 2008 | New York Daily News | Topic: Land Use

The iconic parachute jump in Coney Island and the surrounding ground area is being redesigned by a team of architects that includes a landscape architect, water and lighting specialists and entertainment-based developers at a price of $4 million. The cost does not include construction costs just fees for a team of eight architects to rehaul the design. The site, totaling 2.2 acres, will house the Steeplechase Pavilion, with the B&B Carousell, restaurants and possibly an observation deck. Some architects not affiliated with the project have said that the $4 million cost is almost triple what the city generally pays on projects after competitive bidding.

$20 Billion in Development At Risk Due to Slowing Economy

Monday, March 31, 2008 | New York Daily News | Topic: Economic Development

Due to the slowing economy, over $20 billion in development projects in the City could be scaled back, significantly delayed or even killed. The affected projects include Moynihan Station, Fulton Station, Atlantic Yards, Coney Island and the World Trade Center redevelopment. According to Robert Yaro, president of the Regional Plan Association, “We’re not going to throw in the towel on any of these projects, but less dramatic and less expensive designs may be needed.”

Private Developer May Be Back In Coney Island Development Proposal

Friday, March 28, 2008 | New York Post | Topic: Land Use

Six months ago the City announced plans to create a new 15-acre park in Coney Island that would be solely developed by the City, not private developers. The City has backtracked a bit from that vision, saying now that private developers, including developer Joe Sitt who wants to create a glitzy area with shops, rides and hotels, may have a role in the redevelopment plans. The changes in plans could be due to the lack financial feasible from the City to purchase land from private developers, including 11 acres owned by Sitt. The City has ruled out using condemnation to build the park area.

City May Change Course on Coney Island Development Plans

Thursday, March 20, 2008 | New York Observer | Topic: Land Use

There have been hints that the city may backtrack from plans it announced in November of last year to buyout private landowners so it could be the sole developer of a new Coney Island amusement district. Now, the city is hinting that it is trying to work out a deal with private developers, a reverse of its November plan. There is speculation that the change in course stems from local political opposition to the city’s plan that would need approval from the City Council.

Plan to Fix Coney Boardwalk Not Likely to Happen Before Summer

Tuesday, March 11, 2008 | New York Daily News | Topic: Waterfront

The city has announced plans to fix two and half blocks of the Coney Island boardwalk, although it is unlikely that it will be done in time for this summer. In 2007 there were many complaints about the deteriorating boardwalk that were causing dangerous conditions for pedestrians. Under the city’s plan, the Department of Parks and Recreation will continue to make emergency fixes but will not begin replacement until after the busy summer season. The city will also replace the boardwalk with a mixture of concrete and synthetic material that resembles wood, as part of an effort to use more sustainable materials. The material change was approved by local officials earlier this year. The city estimates that fixing the entire boardwalk would cost $200 million.

Towers A Possibility on Nathan’s Block in Coney Island

Monday, February 04, 2008 | New York Daily News | Topic: Land Use

Included in the rezoning plans for Coney Island is a provision stating that only the block that Nathan’s resides on and one block west could be rezoned for new, high towers. If this provision goes through, Nathan’s could build a 14-story or higher building on their current property, Nathan’s President Wayne Norbitz says the hot dog company is waiting to see what happens with the rezoning before making any plans for the future.

City Releases Informational Documents for Coney Island Rezoning

Wednesday, January 16, 2008 | Gowanus Lounge | Topic: Land Use

The city has put together an Environmental Assessment Statement, a Positive Declaration, and a Draft Scope of Work in preparation for the Public Scoping Meeting for the Coney Island rezoning. These documents include information about the zoning changes. Additionally, the documents give 2009 as an approximate beginning date for projects and 2019 as an estimated completion date. The documents also speculate that if all the development permitted by the rezoning were realized, there would be 1.4 million square feet of entertainment, retail, and indoor amusement, 4,800 apartment units, and between 6,300 and 8,300 parking spaces. The meeting is set to take place on February 13, 2008 and will establish the foundation for a Draft Environmental Impact Statement.

Coney Island Development Corp. Presents Plans at Public Forums

Wednesday, January 09, 2008 | Metro New York | Topic: Land Use

Spokespersons from the Coney Island Development Corp. presented their plans for a new Coney Island, to be completed after 2012, at three public meetings. The plans included a reconstructed amusement park and an increase in housing and commercial space. Community members conveyed concern about employment and affordable housing.

First Round of Public Meetings Scheduled for Coney Island

Monday, January 07, 2008 | Gowanus Lounge | Topic: Land Use

Public meetings will be held in the next couple of days in Brooklyn to discuss the plans for Coney Island. It is not clear how productive the meeting will be as both opponents and proponents of the plan have begun to rally their members to attend the three scheduled meetings. These public meetings are not part of the city’s ULURP process, which will begin later this year. The purpose of the meeting is to give a general overview of the plan for Coney Island to interested community members.

State Senator Kruger Opposes Coney Island Redevelopment Plan

Friday, January 04, 2008 | Brooklyn Eagle | Topic: Economic Development

State senator Carl Kruger is leading an opposition movement against Mayor Bloomberg's plan to redevelop Coney Island. Kruger and his allies are concerned that the plan will be too expensive and argue that the usurpation of city parkland for the site's development is not justified. The Coney Island Redevelopment Corporation will hold three public meetings about the plan beginning on January 7. Senator Kruger plans to attend and focus the conversation on a tedious state environmental impact study required of the city in order to develop the site. Though Kruger supports redevelopment, he is rallying support for a more cost efficient plan that benefits local residents.

Design Team Chosen for Coney Island’s Steeplechase Plaza

Thursday, January 03, 2008 | Brooklyn Eagle | Topic: Urban Design & Architecture

The city’s Economic Development Corporation (EDC) and the city’s Department of Parks and Recreation have selected a design team for the redesign of Coney Island’s Steeplechase Plaza, a central component of the area’s redevelopment project. The firm, EDAW Inc. and the Rockwell Group, will design the public facility which will include an open lawn for performances and space for a restaurant, park, a restored historic carousel and other entertainment facilities. Officials hope the plaza in addition to improved walkways and landscaping will be a catalyst for future Coney Island development. The contract is for $4 million and the design is expected to be completed in the next year.

Coney Island Developer Uses New Strategy in Development Plans

Wednesday, January 02, 2008 | New York Post | Topic: Land Use

Joe Sitt, owner of 11 of the 15 acres that make up the Coney Island amusement district, may try to sell off his Downtown Brooklyn parking garage to secure the funds necessary to sustain a holdout over the Coney Island plans until Mayor Bloomberg leaves office. Bloomberg opposes Sitt's plan to turn Coney Island into a Las Vegas-style entertainment complex. Sitt cannot sell the garage until 2009 without approval from the City.

Environmental Impact Statement at Issue in Coney Island

Monday, December 31, 2007 | Brooklyn Eagle | Topic: Politics & Government

State Senator Carl Kruger, a strong opponent of the city's 15-acre amusement vision for Coney Island, has recently pointed out that the Coney Island redevelopment project must go through a lengthy state environmental review process before New York City can proceed with it. Kruger argues that the city's Economic Development Corporation (EDC) is committing a "crime of omission" by not clarifying that the development proposal is not final until state approval. While Kruger thinks that the city's plan is the "wishful thinking" of urban planners. the EDC believes that it is an "important project" that will comply with all state regulations.

Kruger Funded Coney Island Protest

Wednesday, December 05, 2007 | New York Daily News | Topic: Politics & Government

State Senator Carl Kruger used campaign donations to fund the major protest that resulted in the cancellation of the November 19, 2007 Coney Island redevelopment meeting. Kruger admitted that he provided the transportation to the meeting site and the protest paraphernalia, and that he contacted groups in Sheepshead Bay, Gravesend, and Brighton Beach to recruit protesters. It remains unclear whether Kruger inappropriately used his campaign funds.

Coney Island Redevelopment Will Be a Long Process

Monday, November 19, 2007 | Brooklyn Eagle | Topic: Economic Development

Mayor Bloomberg's plan for Coney Island redevelopment could face major opposition. Before the project can move forward, the state must approve transfer of city parkland to the project, and state senator Carl Kruger of Brooklyn has announced that he will fight approval in the state legislature. The Mayor’s plan also requires rezoning the area by the city. The entire process may take 10-20 years, but the Bloomberg administration remains committed to improving the park for the public.

CIDC Cancels Coney Island Public Meeting at Last Minute

Monday, November 19, 2007 | 1010 WINS | Topic: Economic Development

The Coney Island Development Corporation (CIDC) cancelled Monday's invitation-only meeting at Coney Island Hospital when crowds exceeding the building’s capacity by several hundred tried to attend. The meeting was supposed to provide the CIDC with a chance to present the proposed plans for Coney Island to the public and to receive feedback. Critics say the large crowds were not sufficient grounds to cancel the meeting.

Critics Claim Bloomberg's Coney Island Plan Same as Thor's

Saturday, November 17, 2007 | Brooklyn Papers | Topic: Economic Development

Although many commended Mayor Bloomberg for his plan for Coney Island, some argue that his plan is no different than Thor Equities’ plan. Both plans call for a modern day amusement park, owned and operated by one single entity. According to the Brooklyn Paper, Bloomberg's plan differs because hotels would not be allowed in the central area or on the boardwalk and part of the area will be designated as city parkland. The city faces an uphill battle in acquiring land for its designated park land since some landowners do not want to cede their land to the city.

Mayor's Plan for Coney Island Faces Some Opposition

Thursday, November 15, 2007 | New York Observer | Topic: Economic Development

City Councilmember Domenic M. Recchia, Jr. is concerned that Mayor Bloomberg's plan to designate portions of Coney Island as parklands will have a negative affect long standing landowners. Though Councilmember Recchia was quoted in Bloomberg's press release announcing his plans for Coney Island as being in support, Recchia says he supports reinvesting in Coney Island overall but still has concerns for property owners in the area. Bloomberg's plan must be approved by the City Council and the State Legislature. Council Speaker Christine Quinn has not taken a position on Bloomberg's plan yet.

Bloomberg Announces Proposed Coney Island Attractions

Tuesday, November 13, 2007 | New York Post | Topic: Land Use

Mayor Bloomberg has announced a plan to build an ice skating rink and sailing pond along the Coney Island boardwalk. The proposal is part of the Mayor's plan to redevelop the Coney Island area, and also includes a spinning column and a roller coaster to span the length of the park. The proposals are being undertaken by the Rockwell Group, an architecture firm.

City Unveils New Plans for Coney Island

Friday, November 09, 2007 | AM New York | Topic: Land Use

At a press conference Thursday, Mayor Bloomberg announced the city’s latest plans for redeveloping the Coney Island waterfront which will include all year round attractions, retail and residential space while also preserving the area's historic amusement park rides. The planning process has been a point of contention between the Coney Island Development Corporation and Thor Equities, a private development firm which owns a vast amount of the land and has its own plans for hotels and entertainment facilities. The city's plan calls for rezoning of the area that must go through both NYC's land use process as well as the state's process. Additionally, the city must acquire land for its development, specifically 10 acres that is owned by Thor. In a statement, Thor expressed disappointment in the new plan but hopes to continue working with the city and local residents.

Coney Island Plans To Be Unveiled Next Week

Thursday, November 08, 2007 | New York Daily News | Topic: Land Use

City Officials expect to reveal Coney Island’s rezoning and development plans next Wednesday. Current zoning regulations restrict the waterfront to the development of amusement rides while the city’s rezoning plan may permit a more mixed-use area. This could include the allowance of retail, restaurants, water parks, and luxury hotels along the water.

Astroland Remains Open Through Next Summer

Thursday, October 25, 2007 | Metro New York | Topic: Land Use

Thor Equities and Astroland executives announced that the famous amusement Astroland will remain open through next summer. The amusement's owner and developer Thor Equities, who is responsible for a contentious redevelopment plan in the area, agreed to the extension. The City Planning Commission is expected to disclose its long-awaited rezoning plans for the area shortly.

Lease Agreements for Some Coney Island Vendors

Thursday, September 20, 2007 | New York Post | Topic: Land Use

Councilman Domenic Recchia Jr. is helping to reconcile a $2.8 million difference on a lease extension for 2008 between Thor Equities and Astroland's operators. In addition, Recchia worked on lease agreements yesterday to prevent 8 boardwalk vendors from being bulldozed to make room for Thor's planned $1.5 billion entertainment complex. Yesterday Thor informed the vendors, including Lola Staar, Boutique, Ruby's Bar and Grill, Cha-Cha's, and Shoot the Freak paintball that they would acquire the extensions at the current rate.

Skate Park a Possibility for Coney Island

Monday, September 17, 2007 | New York Daily News | Topic: Land Use

As plans progress in the development of the public space underneath’s Coney Island’s Parachute Drop called Steeplechase Plaza, the idea of including a skate park in Coney Island has been floated around. The community is mixed on the inclusion of a skate park. Some believe that it will bring the youth back to Coney Island, while others think that skateboarding is not what Coney Island is about. Steeplechase Plaza will include the B&B Carousel, which the city bought in 2005 and has made commitments to restore already, public performance space, refreshment stands and fountains.

No New Site for Astroland, says City

Friday, September 14, 2007 | New York Post | Topic: Land Use

The city’s Coney Island Development Corporation (CIDC) confirmed that it was unable to find a replacement site for Coney Island’s Astroland amusement park, which has been in ongoing but deteriorating negotiations about a new lease with developer Thor Equities. Thor bought the famed amusement park area in 2006 for $30 million and is demanding a rent level that the park’s operator is refusing to pay. Astroland concluded its season recently, leaving many observers wondering if it was the park’s last.

Community Activist Now Opposed to Coney Island Developers

Thursday, September 13, 2007 | New York Daily News | Topic: Land Use

Dick Zigun, an activist who is commonly known as the “mayor” of Coney Island, has changed his position on the Coney Island development plans. Zigun had previously worked with Thor Equities in developing a plan for the area. However, Zigun now contends that Thor broke promises and fooled the people of Coney Island. Zigun hopes to sway lawmakers involved in the zoning changes for Coney Island.

Rezoning Goal: Expand and Improve Amusement District

Sunday, September 09, 2007 | New York Times | Topic: Land Use

The city's Economic Development Corporation (EDC) reaffirmed that the intention of a pending rezoning of Coney Island is to "expand and improve" the area's entertainment uses, adding that "high-density residential is not appropriate for the core entertainment or amusement district.” The recent announcement follows the closing over the weekend of Astroland, the historical amusement park recently sold to developer Thor Equities. Thor is still contemplating a $1.5 billion plan for the area that includes newly revamped amusements and time-share apartments and hotels, which are opposed by the city.

Coney Island Rezoning Proposal Anticipated; Speculation Abounds

Wednesday, August 29, 2007 | AM New York | Topic: Land Use

The city is expected to unveil a rezoning proposal this fall for the famed amusement district, which many expect will prohibit residential uses. Speculation is plentiful about the possibility that Thor Equities, developer of a $1.5 billion plan for the amusement space, cannot build its three proposed hotel towers with time-share apartments. Some wonder if developer Thor will simply sell its property after a rezoning. Others believe that the city might begin eminent domain proceedings on the condition of blight if Thor attempts to “force the city’s hand” by leaving the land undeveloped. Both the developer and the city are continuing negotiations.

Historic Childs Building Renovated at Coney Island

Monday, August 27, 2007 | Gowanus Lounge | Topic: Historic Preservation & Landmarks

The Childs Building, which received official status as a landmark in 2003, has been renovated by developer Taconic Investment in the hopes of converting the space into a mix of “restaurant, catering space and marketplace.” The restoration of the structure precedes Taconic’s intention of developing over a million square feet of retail and residential uses around the Childs Building. Developers Taconic and Thor Equities are both crafting proposals for various parcels at Coney Island.

City Council Speaker Adds Voice to Coney Island Plans

Saturday, August 25, 2007 | New York Post | Topic: Politics & Government

Speaker of the City Council Christine Quinn is joining an ongoing discussion between the city and developer Thor Equities about the $1.5 billion redevelopment plan for Coney Island. Observers hope Quinn’s addition to negotiations will avoid a standstill between the parties. City Planning Commissioner, Amanda Burden, has signaled that the agency would strike down any Coney Island plan that includes time-share apartments for the historic amusement site. Developer Sitt’s vision includes such apartments and other year-long uses.

Impasse on Fate of Astroland Park at Coney Island

Friday, August 24, 2007 | New York Post | Topic: Finance

Developer Joe Sitt and Astroland Park operator Carol Hill Albert have reached a standoff in discussions of Astroland Park’s 2008 schedule. The dispute is based on Sitt’s demand of $3 million in rent for the following year because of the $30 million paid by the developer for the amusement space in 2006. Operator Albert insists on continued payments of $170,000. Many businesses in the amusement area are interested in negotiating lease extensions for another year, given the uncertainty of negotiations between the city and the developer. Sitt’s $1.5 billion proposal for the area has met resistance from city officials because of plans that include high-density hotels and apartments on site. The lease for Astroland Park extends to January 2008.

EDC Shapes Vision for Coney Island Redevelopment

Saturday, August 18, 2007 | Brooklyn Papers | Topic: Economic Development

The city’s Economic Development Corporation (EDC) has hired Joni Yoswein, a former member of the State Assembly, to advance the agency’s vision for the redevelopment of Coney Island. The city’s strategic vision for Coney Island has clashed with developer Thor Equities, whose $1.5-billion redevelopment proposal includes a hotel component in the famed amusement area. The City Planning Commission has maintained that hotel uses are not appropriate to the site.

Deal Unlikely between City and Coney Island Developer

Sunday, August 05, 2007 | New York Daily News | Topic: Politics & Government

The New York Daily News has learned that a deal between the city and Thor Equities, developer of a $1.5 billion plan to revitalize Coney Island, has failed. The city is worried that the developer will simply sell the property after receiving a zoning change and nearly $100 million in city subsidies. Additionally, Thor's plans to include 350 time-share apartments in the plan have derailed the deal. A zoning change is expected in September that will allow for retail, entertainment, amusement rides, and hotels.

Thor Equities May Be Adding to Coney Island Properties

Friday, July 13, 2007 | Gowanus Lounge | Topic: Historic Preservation & Landmarks

Thor Equities, which already owns the land under Astroland on Coney Island as well as much of the surrounding property, is now in negotiations to be a large piece of Wonder Wheel Park, filling in the company’s area of ownership. The land includes a children’s amusement park and part of Jones Walk. However, based on the current lease’s terms, even after a change of ownership the children’s park may not be until the Wonder Wheel celebrates its 100th birthday in 2020.

Trolleys Suggested for Transportation at Coney Island

Thursday, July 12, 2007 | Courier-Life Publications | Topic: Transportation

The not-for-profit organization, the Brooklyn City Streetcar Company (BCSC), has been in consultation with city officials about implementing trolley service on Coney Island. The BCSC has advocated the plan to the Coney Island Development Corporation, responsible for coordinating the area’s redevelopment, by emphasizing the environmental benefits and lower costs of a trolley line. Coney Island is currently undergoing redevelopment and possible rezoning.

Developer Seeks Support for Coney Island Development

Sunday, July 08, 2007 | Courier-Life Publications | Topic: Land Use

Developer Thor Equities presented at a local community meeting in Coney Island to gain support for its plan to create a year-round development at the historic amusement site. Thor's vision, espoused by its head Joe Sitt, includes revamped and redesigned amusement rides as well as time-share residences. The local community was not altogether persuaded by Sitt's arguments and feared that the developer will sell the property upon receiving the zoning change required for the proposed development.

Coney Island Developer Responds to City's Concerns

Monday, June 18, 2007 | New York Times | Topic: Economic Development

Developer Joseph J. Sitt has scaled back Thor Equities’ plan for the redevelopment of Coney Island. In response to concerns from New York City residents and the Economic Development Corporation, plans for a 40-story tower, and hundreds of luxury condominiums and apartments, have been scrapped. Plans for three new hotels remain.

A New Amusement Pier for Coney Island?

Thursday, June 07, 2007 | Brooklyn Eagle | Topic: Economic Development

The City is preparing to decide whether or not ferry service to Coney Island might be possible. In addition to the ferry service, some citizens are requesting the officials considering building a pier that would include entertainment, providing some seasonal amusements as much of Coney Island is redeveloped as a year-round amusement park. Whether or not the proposal will be considered remains to be seen.

Astroland Operator Hopes to Move Park

Monday, June 04, 2007 | New York Post | Topic: Historic Preservation & Landmarks

Astroland amusement park may be saved despite the redevelopment of Coney Island. City officials and the current operator of Astroland are negotiating potentially moving the rides to an alternate site in order to keep it operating. This comes despite the fact that the park’s rides were recently slated for sale online. The park’s operator is hoping to delay the sale of any of the rides until it can figure out if a move is possible, potentially just a few blocks away.

Coney Island Rides Auctioned

Saturday, June 02, 2007 | NY1 | Topic: Economic Development

Astroland Park, the amusement center of Coney Island, is auctioning off some of its most prized amusement rides. Coney Island is set to undergo a $2 billion redevelopment at the hands of developer Thor Equities. The Cyclone, arguably the most famous ride at Coney Island, is an official landmark and will not be sold.

Anticipating Development, Preserving Coney Island's History

Tuesday, May 29, 2007 | New York Times | Topic: Historic Preservation & Landmarks

A new exhibition, the Coney Island History Project, is opening up on Coney Island under the famed Cyclone amusement ride. The purpose of the exhibition is to provide a frame for the future of Coney Island, a cultural icon of New York, which is set to change dramatically in the next year. Developer Thor Equities, who has a $2 billion plan in mind for the Island including luxury residential units, will raze much of Astroland amusement area. The Cyclone, which is a city landmark, will not be torn down during redevelopment.

Coney Island's Future Comes Into Focus

Monday, May 28, 2007 | AM New York | Topic: Economic Development

The future of Coney Island is starting to take shape; next year, Astroland Amusement Park will either be closed or relocated, and the 10 acres between West 15th and West 10th Streets will begin to morph into a year-round destination, home to a new amusement park, hotels, time shares, retail shops, and nightclubs. Developer Thor Equities also plans to build 900 condos on the site, although the City would prefer to avoid the zoning battle that would ensue should that aspect of the plan take shape.

New Head Named at Coney Island Development Corporation

Tuesday, April 24, 2007 | Crain's New York Business | Topic: Economic Development

An experienced executive at the city's Economic Development Corporation (EDC), Lynn Kelly, has been named president of the Coney Island Development Corporation (CIDC), the 13-member public-private board formed to oversee the city's ambitious development plans for Coney Island. Kelly will inherit amusement space redevelopment that has already increased in cost by nearly $30 million, having climbed to $111 million from $83.2 million. Kelly will also help developer Thor Equities execute their entertainment district determinations for 3.1 acres of Astroland, the amusement area of Coney Island that the developer purchased for $1.5 billion in 2006. Kelly brings to the job six years at the EDC where she was responsible for major development projects in Brooklyn and Staten Island.

Condo Battle Threatens Coney Island's Future

Tuesday, April 10, 2007 | | Topic: Urban Design & Architecture

According to the Village Voice, Coney Island is already looking a bit like a construction site, with its batting cages, go-karts, and miniature golf gone. Temporary construction woes aside, some are much more worried that Thor Equities might raise Coney Island and then stop construction in order to pressure the city to allow rezoning for luxury condos. Opponents believe that Joe Sitt has a history of selling land for a profit after a valuable rezoning, notably at Albee Square Mall. The article sees the best case scenario as Thor agreeing to a plan that fits the city’s rezoning (without condos) or selling to someone else, whereas worst case scenario would be a prolonged battle for the rezoning, with Thor closing local businesses and leaving the area stagnant.

More Building in Brooklyn, More Landmarks Under Pressure

Friday, April 06, 2007 | Municipal Art Society | Topic: Historic Preservation & Landmarks

This report by the Municipal Arts Society (MAS) studies the relationship between the record number of demolition permits issued in 2006 for the borough of Brooklyn with the ten areas of rezoning that the Bloomberg Administration has generated. The MAS believes that historical landmarks in Brooklyn are in critical need of preservation as the "building boom" continues in the borough. In 2005 alone the Brooklyn Chamber of Commerce estimated that planned redevelopment in the borough reached 13 million square feet. With both demolition and building permits on the rise, who will protect Brooklyn's historical landmarks?

Coney Island Opens for Last Season Before Redevelopment

Monday, April 02, 2007 | NY1 | Topic: Urban Design & Architecture

The Astroland Park at Coney Island opened for its final season on April 1st. A the end of the summer Thor Equities, the new property owner, will begin renovations to turn Coney Island into a modern amusement park that will be open year-round. Some have expressed regret about the loss of the landmark and the likely change in the surrounding neighborhood with the redevelopment. The Cyclone roller coaster will remain as part of the new park, but the rest of the existing amusement park will be demolished in order to construct a new luxury hotel and new indoor amusement area. However, the new park, with expected completion in 2011, is expected benefit the area by driving economic development and bringing in revenue and jobs year-round.

Coney Island Opening for the Year, Protests Await

Friday, March 30, 2007 | WNYC | Topic: Land Use

Brooklyn's famed amusement area Coney Island will be reopening for another season on Sunday. A group, known as "Save Coney Island," will be protesting the opening weekend, calling attention to a developer's proposed plan to introduce expensive condominium units to the amusement area. Thor Equities, the developer who has committed nearly $2 billion to 14 acres of the boardwalk area, has plans to develop Coney Island by making it more of a yearlong location, as opposed to its current seasonal status. The city's Economic Development Corporation has not issued a final strategic plan for the area, despite the continued animosity between project opponents and supporters.

Borough President Promotes Tourism in Brooklyn

Friday, March 30, 2007 | Courier-Life Publications | Topic: Economic Development

Speaking to joint community councils in southwestern Brooklyn, Borough President Marty Markowitz intimated that the major chain grocer Trader Joe's would come to Brooklyn in the near future. He also commented upon Brooklyn's increasing attraction to tourists because of the development plans occurring throughout the borough. In particular, Markowitz praised the new plans for Coney Island saying, "We want to preserve it for this and future generations." The president believes that adding a mix of retail, residential housing, commercial, and time-share space will achieve that objective. Markowitz also touted the entrance of an Ikea store in Red Hook, a Whole Foods Market in Gowanus, the redevelopment of the Albee Square Mall, and the Atlantic Yards Plan.

Coney Island Developer Rethinks Residences

Wednesday, March 28, 2007 | New York Post | Topic: Land Use

Developer Thor Equities, who is planning a $2 billion mixed-use entertainment complex on 14 acres of Coney Island, is reconsidering its proposals for high-rise residences in order to accommodate concerns of the city's Planning Commission that condominiums are inappropriate for an area zoned for amusement use. The reconfiguration would put 900 condominium units, originally dispersed in four properties within the amusement area, into a single 40-story tower. Some believed that the towers planned for the amusement area would overshadow views of Coney Island's popular amusement rides.

Officials Question Thor’s Commitment to Coney Island

Monday, March 26, 2007 | New York Post | Topic: Economic Development

The New York Post says that city officials fear that Joseph Sitt of Thor Equities is being disingenuous with his glitzy proposals for Coney Island. Calling Sitt a “hukster with a history of flipping properties for a fast buck,” the Post suggests that Thor will hold up the Coney Island’s planned $2 billion redevelopment by flipping the beachfront assemblage or by holding out to see if future administrations might be more amenable to luxury housing in the amusement district. Thor Equities insists that it remains committed to Coney Island.

Coney Island Looks to Add Recreational Offerings

Tuesday, March 20, 2007 | New York Daily News | Topic: Economic Development

The city’s Parks Department has issued request for bids to contractors to add certain recreational options to the amusement area of Coney Island. The activities listed in the request include: “rock-climbing, walls, rappelling walls, trampolines, rope courses and trapeze.” The department issued a similar request last year but received no responses from contractors. While the city set a bid deadline of mid-April there is no guarantee that the activities will be ready by the summer.

More Coney Island Purchases Made

Friday, March 09, 2007 | Bay News | Topic: Economic Development

Two more parcels of Coney Island have been snapped up by speculators this week. A group of investors called Surf Avenue LLC purchased 805 and 825 Surf Avenue, which, when combined, total 15,700 square feet, for $3.45 million. The properties lie across from Astroland, and both are currently zoned C-7 as outdoor amusement areas. Both properties lie within an area that the New York City Economic Development Corporation and Coney Island Development Corporation plan to rezone as part of the Coney Island Strategic Plan.

New Coney Island Aquarium Design to Dialogue with Ocean

Wednesday, March 07, 2007 | New York Sun | Topic: Urban Design & Architecture

The New York Aquarium on Coney Island will be receiving a design face-lift from Wallace, Roberts & Todd, a Philadelphia-based firm, who will turn the exterior façade of the structure into a "giant, wavy, cage-like enclosure with an aquatic theme," according to sources close to the New York Sun. The firm won a design contest put together by the city's Economic Development Corporation that featured 25 submissions. While no specific timeline exists for construction, the entire amusement area of Coney Island is in the redevelopment stage. Developer Thor Equities is currently embarking upon a plan to create new amusement areas on the frequently dormant site.

City to Coney Island Developers: No Luxury Condos

Friday, February 23, 2007 | Brooklyn Papers | Topic: Land Use

City Planning Commissioner Amanda Burden has said that residential use is incompatible with the amusements on Coney Island, and thereby rejected plans by developer Thor Equities to establish luxury condominiums in their 14-acre, $1.5 billion development of the amusement area. Thor would need a rezoning of the area in order to develop residential uses on the site. The developer has said that permanent residences would be necessary to finance the amusement area.

Coney Island Rezoning Might Feature Residential Housing

Friday, February 09, 2007 | Courier-Life Publications | Topic: Housing

The revitalization of the amusement space in Coney Island might feature residential housing, based on sources close to a recent meeting of borough officials, the Coney Island Development Corporation, and developer Thor Equities, who recently purchased 14 acres of Coney Island boardwalk. While the group agreed that Coney Island's focus should remain on its amusement and entertainment uses, Thor argued that a residential component would make the area livelier for a greater percentage of the year. The Draft Environmental Impact Statement must be finished before the rezoning process can begin in September.

Achievements Listed in Brooklyn's State of the Borough

Friday, February 02, 2007 | NY1 | Topic: Politics & Government

Brooklyn Borough President Marty Markowitz listed a host of the borough's accomplishments in the past year during his annual address, citing in particular his desires to add a second cruise ship terminal in Red Hook, create more lighting on the Parachute Jump in Coney Island, and celebrate another Sundance Film Festival at the Brooklyn Academy of Music. While Markowitz welcomed the Nets to Brooklyn following approval of Atlantic Yards, he signaled worries about the impending sale of Starett City, the federally subsidized housing complex in East New York. Many suspect that a mega sale will displace residents dependent upon affordable housing.

Clearing Coney Island for Construction

Friday, February 02, 2007 | Courier-Life Publications | Topic: Land Use

Developer Thor Equities, who owns most of the amusement space on Coney Island, is preparing the area for future construction by tearing down fencing and other impediments. The first signs of change have met with mixed reaction from owners of the amusements. On the one hand, many Coney Island residents are excited about the prospects of Thor's $2 billion development of the area. On the other hand, many think that the developer should be more patient with the City's official approval of rezoning for the area. Thor has requested that the City finish its rezoning process so that the development of the area can begin. Thor envisions a year-round amusement/retail/residential hub on Coney Island.

Large Outdoor Concert Venue A Priority for Coney Island

Thursday, February 01, 2007 | New York Daily News | Topic: Economic Development

Brooklyn Borough President Markowitz has stated that building a open-air concert venue similar to Jones Beach at Coney Island is one of his top priorities in 2007. The new venue would replace Asser Levy Park. The borough has a capital budget of almost $58 million, out of which funds for the project could come, if the appropriate rezoning is realized. The new venue is expected to compliment the other developments expected at Coney Island.

Developer Threatens to Scrap Coney Island Development

Wednesday, January 31, 2007 | New York Post | Topic:

Thor Equities is threatening to scrap its plans for a $2 billion redevelopment of the Coney Island boardwalk if the city won’t rezone part of the area for luxury housing. The developer tells the New York Post that the project “isn’t a financially feasible investment" without the inclusion of high-rise housing along Stillwell Avenue. A majority of residents opposes housing in the amusement district as well as any new development exceeding the height of the 262-foot landmark Parachute Jump.

Mayor Presents Budget, Includes Development Projects

Friday, January 26, 2007 | New York Sun | Topic: Economic Development

Mayor Michael Bloomberg presented a preliminary $57.1 billion budget at City Hall for fiscal year 2008, having secured a $3.9 billion surplus for fiscal year 2007. The mayor’s across-the-board property tax cut has been the most prominent feature of the new budget, highlighting the city’s fiscal resurgence since September 11, 2001. Also included in the mayor’s preliminary budget are capital earmarks for major development projects like: the Javits Center ($350 million), Coney Island redevelopment ($320 million), and the Atlantic Yards ($205 million). The City Council must pass the budget by June 30, 2007 for fiscal year 2008.

Coney Island to Add Community Complex and Affordable Housing

Friday, January 12, 2007 | AM New York | Topic: Economic Development

Mayor Michael Bloomberg announced a $56 million project to build a YMCA community complex, as well as a residential complex composed of 2 towers dedicated to affordable housing for low-and middle-income residents. The 40,000-square foot community center will include an aquatic center, gymnasium, fitness center, and meeting rooms, and will feature a flexible rate structure. The residential complex, to be built on city-owned land near the Coney Island boardwalk, consists of a 7-story tower and an 11-story tower. Construction is to begin in 2008 and finish in 2009.

Theme Park Designer Hired For Coney Island

Thursday, January 04, 2007 | Courier-Life Publications | Topic: Economic Development

Thor Equities, developers of the new entertainment complex at Coney Island, has retained a designer and producer of theme parks to help with their plans to make Coney Island a year-round amusement and entertainment center. The plan includes a mix of amusements including a carrousel and water park along with street-level restaurants and shops and a hotel.

City’s Rezoning of Coney Island Expected in Spring 2007

Friday, December 29, 2006 | Courier-Life Publications | Topic: Land Use

Courier Life Publications has learned that the early stages of the City’s comprehensive rezoning of Coney Island are set to begin in the Spring. The Environmental Impact Study (EIS) will commence in the Spring, with the Uniform Land Use Review Procedure (ULURP) to follow in the Fall. The news arrives at a time when developers, Thor Equities and Taconic Investment Partners, are eager to begin their projects. Thor intends to develop a mixed-use area along Coney Island’s entertainment strip.

Q & A with Coney Island Developer

Friday, December 29, 2006 | Courier-Life Publications | Topic: Land Use

Joseph Sitt, the principal of Thor Equities, sat down with Courier Life Publications to discuss plans for Coney Island and Red Hook which are hotly contested development projects in Brooklyn. While Thor has produced a master plan for Coney Island, the developers are waiting on the City’s larger rezoning plan for the area to reveal the details of their proposal to the public. Sitt maintains that he has a mixed-used plan in mind for Coney Island that contains three components: retail/amusement/entertainment, as well as residential and hotel. Thor believes such mixed uses will provide vibrancy to an area of inactivity. In Red Hook, Thor believes it is important to include both residential and commercial uses to make an attractive waterfront open space.

World Famous Entertainment Firm to Design Coney Island Amusements

Monday, December 18, 2006 | Courier-Life Publications | Topic: Economic Development

Developer Thor Equities, who is implementing a $1.5 billion plan for amusements on Coney Island, announced that Think Well Design and Productions, a renowned amusement and design firm, will help design the amusement section of their Coney Island site. The firm will begin by designing a fence to enclose Thor’s section of the amusement area. At a recent Community Board 13 meeting debate continued about the possibility of a hotel and residential housing on the site. Some are concerned that year-round housing on the amusement section of Coney Island is not feasible.

Old Restaurant Given New Life on Coney Island

Wednesday, December 13, 2006 | New York Daily News | Topic: Economic Development

Childs Restaurant on Coney Island, long defunct, could be reopened as a new seaside food court. Taconic Investment Partners, who signed a lease for the historic restaurant in August, also has plans to build housing and retail near the site. Development on Coney Island has been dominated in recent weeks by the fate of famous amusement rides. Developer Thor Equities recently announced a $2 billion plan to add residential, retail and entertainment to the area.

Fate of Coney Island Amusements Unknown

Thursday, December 07, 2006 | Courier-Life Publications | Topic: Land Use

The purchase of the Astroland amusement park on Coney Island by Thor Equities has raised many questions about the future of historical amusements at the site. The owner of Deno’s Wonder Wheel is considering options for the famous ride, potentially selling it to Thor Equities. These discussions illustrate an ongoing debate between the developer and the City about what should come first: a concrete development plan or a rezoning.

TV Giant In Coney Island?

Monday, December 04, 2006 | New York Post | Topic: Land Use

The children’s television channel Nickelodeon is in discussions to be part of the $2 billion plan to redevelop Coney Island. The company may build a theme hotel on part of the 3.1-acre Astroland amusement park property. Nickelodeon proposed a similar plan for Governors Island.

Thor Equities Buys Coney Island's Astroland

Tuesday, November 28, 2006 | New York Sun | Topic: Economic Development

Thor Equities has purchased Coney Island's Astroland amusement park. The purchase is part of the developer's larger plan to restore the Brooklyn beachfront as a $1.5 billion year-round resort. The Albert family, longtime owner of the park, have retained ownership of the attractions and hope to move them to another location after the 3.1-acre attraction permanently closes at the end of the 2007 summer season.

Land Speculation or Investment on Coney Island?

Friday, November 17, 2006 | Courier-Life Publications | Topic: Economic Development

In recent weeks Thor Equities have released renderings of the 10 acres of the Coney Island boardwalk that the group is developing for $1.5 billion. Joseph Sitt of Thor, who controls much of the property near the boardwalk, has committed to investing in the community. Some fear, however, that both Sitt and Thor purchased the land only to sell it quickly. While Sitt maintains that his investment is meant to restore Coney Island to its past glory, others worry that his investment is merely real-estate speculation.

Rezoning Coney Island

Monday, November 13, 2006 | New York Sun | Topic: Land Use

A developer’s $1.5 billion vision for Coney Island hopes to restore the amusement district to its former glory, transforming it from a place to spend a summer afternoon into a year-round destination. In order to achieve that goal, a zoning change is required to allow residential and hotel development in the amusement district. The developer, Thor Equities, wants to build as many as four towers, comprising two hotels, a time-share, and an apartment building that could rise up to 40 stories. The City hopes to put the rezoning plan through the land use review process next year.

Thor Equities Plans to Convert 10 Acres of Coney Island Boardwalk to a $1.5 Billion Entertainment Destination

Tuesday, October 31, 2006 | New York Post | Topic: Economic Development

Thor Equities has purchased 10 acres of the Coney Island boardwalk in hopes of building a $1.5 billion entertainment destination. The project is awaiting city approval, but the company hopes to break ground in 18 months and wrap up in about five years. Early designs show a grand vision of the famed summer amusement area's rundown streets being transformed into a glitzy year-round playground and public attraction.

Changes In Coney Island

Thursday, October 26, 2006 | New York Daily News | Topic: Economic Development

Eight businesses located in the heart of Coney Island have received notices from their new landlords telling them to be out when their leases expire December 31. The new owners, Thor Equities, are taking the first step in a $1.5 billion plan to revitalize the waterfront neighborhood. The redevelopment plan, which is supported by City Hall, calls for a new promenade on Stillwell Avenue along with residential, entertainment and amusement components.

Affordable Housing For Brooklyn

Thursday, October 05, 2006 | Courier-Life Publications | Topic: Housing

The City’s Department of Housing Preservation and Development (HPD) has selected 25 development teams to build new affordable housing on 236 city-owned lots. All but two of the projects are planned for Brooklyn. The 25 development teams were chosen through a process aimed at providing "homeownership opportunities to moderate and middle income families.” Projects sites are located in Coney Island, Red Hook, and Williamsburg among other neighborhoods.

Finding Space For New Housing

Thursday, September 14, 2006 | Courier-Life Publications | Topic: Housing

A study commissioned by the city’s Economic Development Corporation (EDC) proposes creating thousands of units of housing built on platforms above existing highways and rail yards. The study – which has not been officially released – has implications all over the city. A local Brooklyn paper discusses potential sites in that borough.

Firms Work on Coney Island Design

Tuesday, August 08