New York City, July 29, 2009
"By approving our Administration’s plan to revitalize Coney Island, the Council has
helped us breathe new life into a City treasure that’s been in decline for decades. Right now, only
three acres of active amusements remain at Coney Island. Dozens of small business owners have
seen their businesses shuttered and a feeling of uncertainty has pervaded the Coney Island
community. Thanks to the Council’s vote, we’ve brought the era of uncertainty to an end.
“Now we move forward with a plan that will return Coney Island to its former glory,
ensure its future as a year-round destination for visitors and create a more livable, vibrant
community for its residents. For one, Coney Island will grow to include a 27-acre amusement
and entertainment district, paving the way for a revitalized seaside destination that will attract
New Yorkers and millions of visitors each year. Outside the amusement district, it will create
4,500 new units of housing – 35 percent of which will be affordable to low- and moderateincome
families. In all, the plan will create 6,000 new, permanent jobs and 25,000 construction
jobs, and generate an economic impact of $14 billion over 30 years.
“We’ve still got a lot of work to do in the days ahead. We have every reason to feel
optimistic because we’re working aggressively to iron out the terms of deals with landowners.
And we will also continue working with our partners in Albany to gain approval for the parkland
legislation we need for the development to move forward.
“Today, we’ve taken a big step forward for Coney Island, and for the future of our entire
city. I’d like to thank Speaker Quinn and Council Member Domenic Recchia – whose leadership
really helped improve the project – and so many others who played important roles, including
Borough President Marty Markowitz, State Senator Diane Savino, Assembly Member Alec
Brook-Krasny, Council Member Melinda Katz, Deputy Mayor Bob Lieber and his staff, Amanda
Burden and her team at City Planning, Seth Pinsky and his team at the City’s Economic
Development Corporation, and Rafael Cestero and the staff at Housing Preservation and
Development.
Contact: Stu Loeser / Andrew Brent (212) 788-2958
About NYCEDC
New York City Economic Development Corporation is the City’s primary vehicle for promoting economic growth in each of the five boroughs. NYCEDC’s mission is to stimulate growth through expansion and redevelopment programs that encourage investment, generate prosperity and strengthen the City’s competitive position. NYCEDC serves as an advocate to the business community by building relationships with companies that allow them to take advantage of New York City’s many opportunities.
