A first look at Coney Island's proposed redevelopment

Posted Tuesday, September 20, 2005 9:46 AM | Contributed by jimvid

Over the past few years, Thor Equities has quietly spent nearly $100 million buying up a huge swath of Coney Island from multiple owners.

Read more from New York Magazine.

Tuesday, September 20, 2005 10:15 AM
From the look of this article, Coney Island will be losing one of the last remaining things from its heyday, the Cyclone.
Tuesday, September 20, 2005 11:30 AM
Did you read the article?

Over the past few years, Sitt’s real-estate company, Thor Equities, has quietly spent nearly $100 million buying up a huge swath of Coney Island from multiple owners, painstakingly overtaking perhaps twelve acres of land along the boardwalk, mostly between KeySpan Park, home of the Cyclones, and Deno’s Wonder Wheel Amusement Park.

Tuesday, September 20, 2005 12:03 PM
Oh sorry, I did read the article but missed that part, just saw KeySpan and Deno's Wonder Wheel and figured that they bought that too.
Tuesday, September 20, 2005 1:25 PM
Acoustic Viscosity's avatar Isn't the Cyclone protected as some kind of historic landmark like the California Giant Dippers?
Tuesday, September 20, 2005 1:31 PM
The Cyclone, Wonder Wheel, Parachute Drop, and Child's Restaurant Building all are designated New York City protected landmarks. Additionally, the Cyclone and the Parachute drop are on the National Landmark list (I'm not sure if the Wonder Wheel has received this status).

There has been a lot of discussion/worry on the CIUSA board on the possibility of moving the Cyclone to closer to the parachute drop and future home the of B&B, but I would highly doubt this would happen.


Tuesday, September 20, 2005 3:47 PM
While I think it is awesome that somebody is willing to risk investing so much money into a park that is in a very poor neighborhood (I thought Disney was thinking about investing some in Coney Island a couple years back), I get a slight feeling that this is going to be SO over-the-top that it might get at "tacky" feeling from all the glitz. Even if it isn't tacky when it opens, it will be hard when times change around it continue to keep it maintained and not like Circus Circus in Las Vegas.

I'm very excited to see Coney Island turn around, I just really hope that it doesn't become an eyesore because it is so different from the rest of New York City.

Tuesday, September 20, 2005 4:15 PM
Oh God, that's ugly.

Seriously, the area looks better as it is. Make this man and his Freakenspiel and his blimps (blimps?!) go away.

Tuesday, September 20, 2005 4:38 PM
I like it, seems like a neat way to return Coney Island to its former glory. Maybe the neighborhood will improve as a result.
Tuesday, September 20, 2005 4:47 PM
1EyedJack's avatar notice it says home of the cyclone*S*. (plural). Keystone Park is home of the Brooklyn Cyclones, the minor league team of the NY Mets. Astroland park is the home of the Cyclone coaster. Confused yet?

There is a map of the area in question at http://www.coneyisland.com/img/mp2004_map.gif for those that have never been there. If at all possbile, I would highly recomend it. It is not Cedar Point, but it is wonderful for the historical aspect. I was there a few months before they tore down the Thunderbolt (wich was where Keystone Park is).

If you go, make sure to see the Sideshow by the Seashore. One of the last remaining freak shows in the country. I love the nostalgia.


*** This post was edited by 1EyedJack 9/20/2005 4:49:23 PM ***

Tuesday, September 20, 2005 5:26 PM
I'm all for the resurgence of Coney Island. But this project, despite all its good intentions, is a BIG longshot.

Tuesday, September 20, 2005 6:03 PM
While visually beautiful I completeley hate the idea. They need to incorporate more of the concepts that made Coney Island the legend that it is in the amusement park industry/history! As of taking or relocating the Coney Island Cyclone.....................These people have no idea what they are up against!!


Tuesday, September 20, 2005 6:18 PM
Per the map 1EyedJack linked above, it appears this development is slated to use up the land between the sports arena and the Wonder Wheel, completely leaving Astroland and the Cyclone alone as well as the Aquarium.
Wednesday, September 21, 2005 11:10 AM
His idea has promise, but attracting 13 million visitors per year (and making them spend money) is a big unknown. If he makes it a destination resort with great shopping, he might do it. West Edmonton Mall attracts 22 million vistors per year with a metro population barely reaching 1,000,000. On the other hand, he might end up with a Disneyland Paris -- a great resort, but lacking return on investment.

Classic Coney Island just doesn't have the economic clout to make a come-back. The good old days are long gone. The vegas styling has great potential, especially if he adopts a key Vegas feature - free valet parking. The indoor waterpark would be a significant NYC attraction, especially if valet, heated indoor parking, and a heated subway connection were included in the proposal.


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