Recent NewsFrom The Peopling of New York CityIntro and the Built Environment History Demographics and Economy Recent News Picasa GalleryRecent NewsA new development plan may alter the face of New York's famous summer amusement park. Joe Sitt’s real-estate company, Thor Equities, has spent $120 million[1] buying up a huge swath of Coney Island from multiple owners, taking over twelve acres of land along the boardwalk, mostly between KeySpan Park, home of the Cyclones, and Deno’s Wonder Wheel Amusement Park. He does this in the hope of building a $1.5 billion entertainment center, including housing, a new carousel and rollercoaster, retail, and a water-park themed hotel.[2] The hotel, which will be right near the boardwalk will be four stars with 500 rooms and an indoor water park. Sitt wants to build a carousel in the center of everything, and have a blimp that will leave from the roof of the complex, inscribed with “The Boardwalk at Coney Island”, with one leaving every ten minutes. Sitt sees a Las Vegas-like atmosphere for Coney Island in the future, and has a projected price of $1.5 billion total, which he hopes to raise from private investors[3]. The Coney Island Development Corporation, as well as the City Planning Department are all skeptical of Sitt’s proposal, because they feel that residential and amusement do not go together, and because they want to preserve the uniqueness and history of Coney Island. Sitt, however, feels that his ideas serve the people, since he lives in Coney Island, and claims that it is a big part of his childhood too. Sitt says that Coney Island has a tremendous amount of potential, and believes that Coney Island must be made into a year-round attraction in order for it to survive[4]. Despite complaints, Sitt will continue trying to work on his project, and he is currently trying to gain the approval of Mayor Bloomberg. Bloomberg’s administration has also invested in the area, since they acknowledged that the revival of the area would prove worthwhile. Charles Denson, the head of the Coney Island History Project, strongly opposes the new project. “It’s the last ungentrified place in New York,” Mr. Denson said. “It’s still a poor man’s paradise. There’s something magical about it, the name, the reputation and the history.” [5]     References
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