Created in September 2003, the Coney Island Development Corp. aims to create a plan to diversify the area. After issuing a Request for Proposals, the group selected Ernst & Young and Davis Brody Bond to create a strategic plan for this Brooklyn neighborhood.
According to Joshua J. Sirefman, CIDC president, the consultants will devise a strategy for implementing short- and long-term improvements. The key aspects of the strategy will be to build on the existing business base, develop vacant property and market the area for a variety of year-round uses. "The team is capable of taking on the challenges of transforming Coney Island into a year-round destination." A full report is expected in the fall.
Other members of the E&Y/DBB team include Halcyon Ltd, retail specialists; Vollmer Associates LLP, engineering and landscape architects; Karin Bacon Events, public space programming; Streetworks, retail developers; and Strategic Leisure, entertainment production development.
SAM Coney Island LLC purchased the lot in the urban renewal area at the intersection of Cropsey Avenue and Hart Place near Coney Island Creek for $325,000. The developer also paid $46,845 toward the environmental clean-up costs. The project is expected to yield 15 construction jobs and 25 permanent ones, according to New York City Economic Development Corp. president Andrew Alper. "This was a dilapidated lot plagued by illegal dumping. The developer's interest in the property reflects the City's overall revitalization efforts in Coney Island."
This marks the second venture in the area for Vista Realty Partners LLC, one of the partners of SAM Coney Island LLC. The developer fitted the site across from the 13,000-sf Staples and leased it and a parking area to Linens 'n Things. "We believe the area is poised for continued growth," Marc Esrig, managing member of Vista Realty Partners LLC.
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