November 10, 2007: Vol. 30, No. 44

UPDATE: Coney cheers Bloomy’s amusement plan

Mayor Bloomberg on Thursday brushed aside developer Joe Sitt’s plan to turn Coney Island into a Las Vegas-style playground on the Boardwalk — while proposing his own, remarkably similar plan.

During a Brooklyn Chamber of Commerce luncheon at Gargiulo’s restaurant, the mayor presented the city’s new vision for the 19 blocks in and around the historic “People’s Playground.” But for the 47 acres bounded by West 20th and West Eighth streets, Surf and Mermaid avenues, and the Boardwalk, Bloomberg’s vision mirrored Sitt’s plan to build a glamorous, $1.5-billion hotel, theme park and retail attraction. The city just doesn’t want Sitt to build it.

“We [want] a developer who has real world-class experience,” said Deputy Mayor Dan Doctoroff after the briefing.

“It’s a very different business building a shopping center than building an amusement area,” added Doctoroff, referring to Sitt’s experience in building malls. “[He] will be offered the opportunity to swap his property for another parcel or for cash.”

That could cost the city hundreds of millions, a source close to Sitt said.

The announcement came four years after the city created the Coney Island Development Corporation to draw up a master plan the neighborhood. In those years, Sitt’s Thor Equities has been buying up plots of the amusement district between West Eighth and West 15th streets.

The city’s proposal outlines three distinct sectors within Coney Island. The amusement sector, much of which Sitt now owns, would be taken over by the city and rezoned to allow for a hotel alongside the rides.

“We talked to some leading amusement developers around the world,” said Doctoroff. “There is definitely interest.”

A second area — with no Boardwalk frontage and bounded by West 20th Street, Mermaid, Surf and Stillwell avenues —would be rezoned to lure developers into building 1,800 new apartments and 100,000 square feet of retail space.

The third sector, bounded by the Boardwalk, West 19th and West 24th streets and Surf Avenue, much of which is currently mapped as parkland, would be de-mapped (pending Albany approval) to stimulate the private construction of 2,700 apartments and 360,000 square feet of retail space.

Sitt, for his part, said in a statement that he was “disappointed” but optimistic that a deal can be reached between him and the city.

©2007 The Brooklyn Paper