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

Wednesday, July 29, 2009

NY Times - GREAT GREAT NEWS

Here is the deal!!!!! Perfect!!! We got Year Round Zoning

Excerpt -

Council Approves Deal to Upgrade Coney Island
By
Charles V. Bagli
Don Hogan Charles

As part of the plan, six of the 10 acres owned by the Coney Island developer Joseph J. Sitt would be bought by the city.


Updated, 4:40 p.m. A new Coney Island moved closer to reality on Wednesday afternoon. The Bloomberg administration neared a deal with an important landowner there, while the City Council approved the mayor’s ambitious plan to revive the seafront district once known as the world’s largest playground.

It has been an expensive and bruising victory for Mayor Michael R. Bloomberg, whose administration wants to establish a 27-acre entertainment district between Surf Avenue and the Boardwalk, with 9.4 acres devoted exclusively to freak shows, arcades, roller coasters and other rides. New zoning would allow high-rise hotels on Surf Avenue and 4,500 apartments north and west of the amusements.

The Council voted in favor of the mayor’s plan, 44-2, with one abstention, on Wednesday afternoon, even as city officials put the last-minute touches on a deal with Joseph J. Sitt, a developer who has been at odds with the Bloomberg administration even has he spent over $90 million buying property in the area.

Negotiations with Mr. Sitt’s representative, Jesse Masyr, went on until 11 p.m. on Tuesday and through the Council meeting on Wednesday.

Under the tentative deal, according to officials and executives involved in the talks, the city will buy six of Mr. Sitt’s 10 acres, leaving the remaining property on Surf and Stillwell Avenues for him to develop.

http://cityroom.blogs.nytimes.com/2009/07/29/council-approes-deal-to-upgrade-coney-island/



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