Coney Island rebirth by Claudia Sonea

Mayor Michael Bloomberg has great plans stored for Coney Island. He no longer wishes to feed from the past glory of the city or the unfulfilled plans of the future, he wants the future to create its base starting from the present. The plan is to transform the fading beachfront into a world-class, year-round attraction. On Thursday he revealed his plans to the media, this way dividing the neighborhood into three development zones, while ensuring an 11-block stretch along its famous boardwalk. The plan is to use the 15 acres between Surf Avenue and the boardwalk, from West Eighth Street to West 19th Street, as new city parkland. However, the plan was stuck when it comes to buying the property from owners such as Thor Equities, who also has its own plans for the spot- massive tourist attraction on the site. Thor Equities is a real estate developer and has a $2 billion plan for the storied site. Its founder, Joe Sitt, acquired 10 acres of Coney Island property for $100 million and declared that despite the disappointed they felt after the mayor's statement, a deal seems something desired by both of them. He added that he will continue to work with the Bloomberg administration and other elected officials on the proposal, which needs to undergo public hearings and would require legislative approval. In times when the employment faces a shrinking market, the mayor's plan would create 3,000 permanent jobs and 20,000 construction jobs over the next three decades. Also west parkland of the minor league KeySpan Park will be rezoned with 2,700 new apartments and 360,000 square feet of retail space. All in all, it will be a really enjoyable place, where people will like spending time and tourists will definitely be attracted by the idea. Still, there is the problem with Thorn, that eventually will be resolved…enjoy!

related story: http://news.yahoo.com/s/ap_travel/20071109/ap_tr_ge/travel_brief_coney_island;_ylt=Ajy8UzEODmPcpqlGqd.lbN.s0NUE

by Claudia Sonea for PocketNews (http://pocketnews.tv)

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