Last month

In March, Forest City signed a memo of understanding with the state and the city for the development of the Atlantic Yards project. The $2.5-billion effort involves the development of a Frank Gehry-designed arena as well as an office, retail and a residential portion. The first phase of construction on the arena is expected to begin at the end of this year and be completed in the summer of 2006. Extell Development Co. had also bid on the site and for a housing and retail development.

The Coney Island Strategic Plan was unveiled yesterday. It calls for enhanced entertainment attractions, a new community center for job training and recreational uses and the increase of affordable housing on vacant city-owned land.

A commitment of $83.2 million from a number of sources will jumpstart the infrastructure improvements including the creation of new streets and open space, better parking and transportation and site preparation work. In addition, the Metropolitan Transit Authority completed a $240-million renovation of the Stillwell Avenue subway station, and the New York Aquarium is currently undergoing a $45-million master plan and renovation. The Coney Island Development Corp. will now work with the city to refine a zoning strategy.