Coney Island Announcment

[CycloneMan]

A $1.5 Billion Vision For Coney Island

By DAVID LOMBINO

Staff Reporter of the Sun

November 13, 2006

 

 

Thor Equities

 

A developer, Thor Equities, says it wants to spend $1.5 billion to rebuild Coney Island and reinvigorate its amusement zone. New plans include building a roller coaster that the developer says would be the first built since the Cyclone opened in 1927.

 

Even on a bright fall day, the streets that make up Coney Island's amusement district seem worn and tired, more tumbleweeds than tourists. While the area boasts an original circus-like charm, born of colorful characters who congregate there, even old-timers agree it needs a major facelift.

 

The founder of the nonprofit Coney Island USA, Richard Zigun, blames the area's decay on a handful of property owners who "were wealthy enough to sit on their property for 20 or 30 years and wait."

 

"They did not give a damn about the amusement industry," Mr. Zigun said.

 

But the city's prolonged real estate boom is reaching Brooklyn's southern edge, and over the past two or three years, dozens of parcels in the amusement district have changed hands, opening up the possibility for new development.

 

"This is the best shot Coney Island has had in 50 years," he said. "Hopefully, we will get something fantastic, something world-class."

 

The biggest buyer is developer Joseph Sitt of Thor Equities. He has spent more than $100 million to assemble more than a dozen balkanized parcels along the boardwalk, close to the subway station.

 

Thor wants to spend $1.5 billion to restore the amusement district to its former glory, transforming it from a place to spend a summer afternoon into a year-round destination, and giving it the feel of Las Vegas, Orlando, or Atlantic City.

 

A developer, Thor Equities, says it wants to spend $1.5 billion to rebuild Coney Island and reinvigorate its amusement zone. New plans include building a roller coaster that the developer says would be the first built since the Cyclone opened in 1927.

 

 

New designs drawn up by the architectural firm Ehrenkrantz Eckstut & Kuhn depict Thor's futuristic vision. A new roller coaster would dart in and out of new buildings along Stillwell Avenue, the first roller coaster in New York City since the Cyclone opened in 1927, according to the developer. Opposite the subway station, Thor is planning a vertical ride to the top of a 150-foot-high water tower that would be decorated with flickering holograms of whales and mermaids.

 

Where Stillwell Avenue meets the boardwalk, the developer wants to build a giant indoor water park and a three-story, glass-enclosed carousel. All the rides would be winterized. They would also be integrated with a movie theater, arcades, retail stores, and with existing attractions, like the Cyclone, the Wonder Wheel, and the Parachute Drop. Thor Equities would lease out the rides or find an operating partner to run the amusements.

 

The plan has a catch. Thor says it needs the city to enact a zoning change to allow residential and hotel development in the amusement district. Thor wants to build as many as four towers on its site, comprising two hotels, a time-share, and an apartment building that could rise up to 40 stories.

 

In the early 1970s, in an attempt to save the amusements, the city rezoned the area to forbid residential development, which it said threatened to chase the rides, games, and shows out of town. Now the developer is arguing that the profit from the residential development is the way to fund the area's regeneration.

 

A spokesman for Thor Equities, Lee Silberstein, said, "The problem with amusements is that they don't make money. There is a reason why people stopped building them. They are too expensive and too seasonal. That is part of the reason why we want to do residential."

 

Currently, Coney Island attracts visitors for about five months a year, from April to mid-September. To be profitable, the amusements would need to operate year-round. The developer hopes the apartments and hotels will enliven the area and make it safer with a permanent human presence.

 

The city is working on rezoning and design recommendations. Following additional public outreach, it hopes to put a plan through the land use review process next year. The developer is planning to prepare the 10-acre site for construction and they hope to open in 2010 or 2011. Some of the amusement operators in the Thor development footprint were forced to close up shop this year, and others will stay open for one more summer season.

 

Mr. Zigun, who also sits on the board of the city's Coney Island Development Corporation, said hotels would be a welcome addition, but said he is dead set against condominiums in the heart of the amusement district. He said he's not looking for a fight, but "a polite, intelligent discussion."

 

Mr. Zigun, who has tattoos poking out from under his jacket sleeves, said Coney Island is best preserved for "those with money who want to get drunk, stay out late," tendencies, he said, that only a non-resident would have.

 

"Put the loud places here, the things that don't belong in other neighborhoods," Mr. Zigun said.

 

While some critics have said Thor's designs are too glitzy, Mr. Zigun envisions something like Las Vegas, Miami Beach, Orlando, Fla., and Atlantic City, N.J., jazzy, modern, and fantastical, as opposed to a "suburban glass façade," or an area dominated by mall-like retail stores. Thor changed earlier plans for a mall after residents and city officials complained.

 

The project architect, Stanton Eckstut, said the design would not be a replica of old-fashioned Coney Island style.

 

"We don't want to do something based on a frozen moment in time," he said. "We want to make it feel like part of the evolution of Coney's past, but we are not doing a historic reproduction."

 

Mr. Eckstut helped create plans for Battery Park City and Brooklyn's Metrotech.

 

Mr. Zigun said any specific plans for Thor's site are likely to change over the next year, as the rezoning evolves and the developer negotiates with the community about preserving certain landmarks, and the height and makeup of the new buildings.

 

"I'm not one of the people who says no-go on Vegas. You can build Brooklyn's Times Square at the beach," he said. "Before you know it, you will be able to have a Starbucks latte at the beach, and hopefully a giant roller coaster you can throw up on."

 

http://www.nysun.com/article/43372?page_no=1

 

 

Now let's see if this actually happens.

 

-Dainan "Very happy CycloneMan" Rafferty

[CoasterFanatic]

OMG. They are moving Viper to Brooklyn

[jackskellington101]

Well, revitalization couldn't hurt. If memory serves, the area around Coney Island isn't the nicest part of NYC either, so hopefully it'll promote some improvement in the surrounding area as well. The plan sounds good, now let’s see if that 1.5 billion actually happens.

[Ccron10]

That coaster (if this plan holds out) looks sweet!!!! It will be extremely cool if this happens! Coney Island totally needs some renovation!

[mike okay]

Although it does sound like a nice plan I think Mr. Zigun's concerns are dead on. If the area gets rezoned for residential use we could see the end of coney island in the next 50 years or so. I guess one could say that even without the rezoning we might only see coney island for about 50 years anyway, but I fear that if the area is rezoned we might see other amuesment operators closing down their rides in favor of apartments and condos.

 

Aside from that I think the indoor water park and hotel is a really good idea. And plus new rollercoaster, can't go wrong.

 

However, the wording in the article seems incorrect. There were many rollercoasters built after the cyclone. Flying turns came in 34 and then another opened in 41, the jumbo jet was in 72, and then there are all those kiddie coasters but I could see not counting them. But obviously none of these rides are around anymore, so maybe they were trying to say currently operating coasters.

 

Either way I'd like to see something good happen to coney island. I live on the other side of brooklyn and only make it down there about once a year.

[Homer]

This is the millionth time I have heard this story since 2005.

 

I don't believe it until I see construction crews doing something and some construction pictures. Don't hold your breath...

[Movieguy]

I hate to rain on everyone's parade, but you have to keep in mind, that this is in New York State...ok? Up in Syracuse, they've been planning this big expansion of the mall called "DestiNY USA" since the year 2000, and nothing has happened yet because of the damn city council, and the damn state bueracracy.

 

Anyone who lives in New York, like I do, knows perfectly well that this place is full of nothing but talk. NOTHING ever gets done in this state. It took us almost 10 years I think to even approve a new state budget, for god's sake.

 

I hate to say it, but this revitilization plan for Coney Island seems destined to remain a pipe dream.

[ginzo]

I hate to rain on everyone's parade, but you have to keep in mind, that this is in New York State...ok? Up in Syracuse, they've been planning this big expansion of the mall called "DestiNY USA" since the year 2000, and nothing has happened yet because of the damn city council, and the damn state bueracracy.

 

Anyone who lives in New York, like I do, knows perfectly well that this place is full of nothing but talk. NOTHING ever gets done in this state. It took us almost 10 years I think to even approve a new state budget, for god's sake.

 

I hate to say it, but this revitilization plan for Coney Island seems destined to remain a pipe dream.

 

With property values being what they are, I imagine that if Coney is redeveloped that it will be basically a residential project. Urban amusement parks are, sadly, a relic of 80 years ago.

 

While I believe you that nothing gets done in NY state, doesn't NYC have a more-or-less competent mayor now?

 

If they do get a new coaster, I'd really hope it's a woodie. Installing a big steel coaster there just wouldn't seem right. Maybe they could even bring back the prostitutes and freak shows!

[CoasterFanatic]

Maybe they could even bring back the prostitutes and freak shows!

 

What do you mean bring back?

 

I have already caught a lot of crap on it, but I think that Coney can be saved without being rezoned as a residential entity. Many of the people in New York look at the outside world a lot differently and don't travel too much outside of the five buroughs. Turn Coney into a real draw and you would be surprised how many people will flow into that new Subway station right across the street.

 

Keep the Multiplexes and Starbucks in Manhattan!

[ginzo]

Maybe they could even bring back the prostitutes and freak shows!

 

What do you mean bring back?

 

I have already caught a lot of crap on it, but I think that Coney can be saved without being rezoned as a residential entity. Many of the people in New York look at the outside world a lot differently and don't travel too much outside of the five buroughs. Turn Coney into a real draw and you would be surprised how many people will flow into that new Subway station right across the street.

 

Keep the Multiplexes and Starbucks in Manhattan!

 

I agree that NYC might be an exception, and I'd certainly like to see Coney rebuilt. The way of the world, however, these days is to just build more luxury condos. I don't think the idea of turning it into a nightclubish area with some amusements thrown in is such a bad idea. It beats turning it into condos, especially if they can put in a few new coasters.

[ECZenith]

I remember hearing about this project years ago. What an amazing thing it would be to have a revitalized Coney Island! Hopefully we see some actual physical progress on this plan.

[mike okay]

another problem coney has to deal with is the subway system. It's way out at the end of the line, and although there are 4 lines none of them are express when they get deeper into brooklyn. Coming from the other side of brooklyn I have to take a train into manhattan and then transfer to get on a coney train and it ends up taking about 2:30. It was quicker for me to drive to coney when I lived in New Haven, CT than it is for me to take the train now that I live in the same burrough

[CycloneMan]

The N and Q run express, but not neer Coney Island. On Fox 5, they just said they're going to say something about the new coaster.

[Airtime&Gravity]

It kind of sounds like what they want to do to Navy Pier down in Chicago, but hopefully this actually gets built. It sounds like a nice idea, and it would be nice to turn CI back to what it used to be. After years of going down hill, it's nice to see a positive change for the area.

[CoasterFanatic]

Coming from the other side of brooklyn I have to take a train into manhattan and then transfer to get on a coney train and it ends up taking about 2:30.

 

Is it possible to take a bus to one of the stops on the "coney" line. Seems like that would be faster than crossing the river.

[edboxer]

Well, as a NYer, its been 6 years since 911 and nothing is built in the trade center yet. It will remain first priority before Coney Island. I'm not holding my breath.