For 3 or more years Mayor Bloomberg's team has been preparing a renewal plan for Coney Island. This plan has included many public meetings as well as meetings with industry specialists. As with anything the mayor of any city would present, this plan has it's critics.
Currently Thor Equities owns most of the property under consideration. Deno's wonder wheel park is still owned by the original family. There are about 6 or 7 other owners who would play minor rolls in this process. The city wants to make most of the current amusement area City Park Land which would retain it forever for New Yorkers and not for developers. You can imagine what Thor (Joe Sitt) thinks about this. The city offered him a generous offer for his land, but he wants nearly double what he paid for it which is nearly triple what it is worth with the current zoning. (Joe and his sidekick Sam Sabin will not come onto the boardwalk without body guards. How funny.) In the power struggle against the city, Joe has rendered many once viable entertainment areas, empty or in one case he built a giant flee market. (The city got back at him for this and made him rebuild the structures because it did not meet severe hurricane regulations.).
If the plan is approved the Grill House where I work will eventually come down. Empty lots and old structures will disappear and Coney Island will become a spectacular place. I can only imagine what that would mean to me being only 5 minutes from Coney by bicycle.
Times Square changed dramatically and boosted the cities revenue. Coney Island renewal could be a welcomed addition to the city. Regardless of what they do, people still flock the beaches and amusements. Tourists have discovered this area and love it. More news when it becomes available.
Update: 7-30-09 The City Council voted for the CICD Renewal Program - Coney Here We Come!
Barre