From iStar's website
Location: Coney Island, NY
Units Available: 565
As a catalyst for residential
development, iStar is developing a ~5,000-seat covered outdoor
amphitheater, restoring the historic Childs Building as a
restaurant/event facility with rooftop bar, and building out a one-acre
Michael Van Valkenburgh Public Park.
The park will include graded walking paths, shaded picnic areas, a
sloped sunning lawn and a children’s playground. Once the amphitheater
and park have been created, we intend to build one million square feet
of housing on our neighboring Bath Site.
Update: According to the Commercial Observer -
the group (iStar) ultimately wants to create about 1,000 units of housing, according to Martin Cottingham, a principal at Avison Young, who served as an adviser to the group for the amphitheater project.