The New Coney Island - Brooklyn's Times Square by the Sea
Saturday, June 6, 2015
Seaside Park Amphitheater 2016
Commercial Observer Excerpts -
New York City’s Department of Buildings today issued a work permit for iStar Financial to begin construction on its Coney Island beachfront amphitheater and restaurant, together called the Seaside Park and Community Arts Center, city records indicate. The permit allows for renovation of an existing building—the historic, now-vacant Childs Building at 3052 West 21st Street—and construction of a new amphitheater and related roof structure on an adjacent site. The total cost of the boardwalk project is $53 million.
“Every major market in the country has a covered 5,000-square-foot amphitheater,” Karl Frey, the executive vice president of land and development at iStar, told Commercial Observer. “Those tours sometimes skip over New York because we don’t.” He added: “There’s a real hole in the market.”
The three-story, 60,000-square-foot Childs Building will have a restaurant and the adjacent covered amphitheater will have 5,000 seats on the boardwalk, according to a project overview Mr. Frey gave this morning at a Brooklyn development event hosted by Baruch College’s Steven L. Newman Real Estate Institute, Kasirer Consulting and Zetlin & De Chiara.
The amphitheater at Seaside Park and Community Arts Center will be open by summer 2016, Mr. Frey said. The restaurant could be later, Mr. Zigun added.
“We see this as the first major capital investment in the Coney West district since the district was established under the 2009 rezoning and it is intended to spur further mixed-use development in the area by rehabilitating a city landmark and creating active open space, retail, and entertainment uses,” said a spokeswoman for the city’s Economic Development Corporation, which helps the city create affordable housing, new parks, shopping areas, community centers and cultural centers for the city.