The New Coney Island - Brooklyn's Times Square by the Sea

Thursday, July 30, 2009

Brooklyn Paper on Rezoning

Excerpt -

Recchia’s opposition faded after Bloomberg agreed to fund a bevy of neighborhood improvements in the councilman’s district, including $30 million to renovate the emergency room of Coney Island Hospital, $5.5 million to build a new gym at an elementary school and money to pay for a deluxe shark exhibit at the New York Aquarium.

“Any single one of these things would be a huge benefit to Coney Island,” Recchia said. “The fact that this commitment has been made to provide all of these is truly remarkable.”

With Recchia now satisfied, the Bloomberg administration can redouble its efforts on Sitt, whose company Thor Equities owns 10-1/2 acres of land in the faded amusement district near the Boardwalk.

The Times reported that the city is moving to buy six acres from Thor and add it to other city-owned parcels on which another developer would build a state-of-the-art outdoor amusement park, between the Cyclone roller coaster and defunct Parachute Jump.

Sitt would then be able to develop his remaining property adjacent to the proposed theme park, to create potentially highly profitable hotels, shopping and other covered tourist attractions.

Neither side would discuss the negotiations.

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