We all know hotels, movie theaters, bowling alleys, restaurants, and indoor amusements were part of the zoning in Coney East. All of these elements were fought for pretty heavily by Thor Equities and were included. Also part of the announcement to sell the outdoor amusement parkland portion was an announcement of $150 million in infrastructure money from the city for Coney Island. A huge part of redeveloping Coney Island year round.
That $150 million in total infrastructure is going to take time. At least 3-5 years in my estimation. That takes a good portion of the year round development into the next administration where we will have a new mayor and new Borough President.
One of the parts of the zoning in Coney East was small retail. I believe Thor lobbied for larger retail square footage. Since Thor already got the zoning for hotels, movies, restaurants etc, AND the infrastructure makes most of this possible in a few years, will Thor just wait to try to get a zoning variance for larger retail in the current zoning?
My guess is yes. After all it is very possible we could see a new administration in 4 years that is even more favorable towards Coney year round development than the current administration, That seems hard to believe, but what if Anthony Weiner and Domenic Recchia become mayor and Borough President? It's quite possible.
Thor is in a perfect position to wait the 4 years since the infrastructure investment most likely will take that long. A good part of the year round zoning is already won. Why not go for larger retail as well?