Bloomberg noted that rezoning will be as follows:

• The area which is bounded on the east by Stillwell Avenue, on the west by West 20th Street, and on the north and south by Mermaid and Surf avenues, which currently consists of underused land and vacant lots, will be rezoned for residential and retail use. That will create the capacity for up to 1,800 new apartments, including affordable units, and 100,000 sf of retail space;
• The area between West 19th and West 24th streets, and south of Surf Avenue, which is identified as parkland, will de-map the existing parkland while preserving adequate parking, opening up a new network of streets that will unify and connect this district to the Boardwalk and to the rest of the neighborhood, and create conditions that will lead to development of some 2,700 apartments and 360,000 sf of retail space;
• The area bounded by West 8th and West 19th streets, Surf Avenue and the Boardwalk, which is Coney Island's existing amusement district, will be mapped as new city parkland. That effect would preserve urban amusement park in perpetuity, Bloomberg said.

"And when you combine that with the Aquarium and with KeySpan Park, we will have 50 contiguous acres of public park with the best in recreation that Brooklyn, or New York, has to offer."

Bloomberg explained that lifting the outdated zoning restrictions on the existing amusement district permit development of such attractions as a high-speed roller coaster that would wind through the district. There could be a year-round water park and hotel with slides, rides, and year-round aquatic attractions, or an open-air performance area for live music and theater, flowing onto the Boardwalk and Coney Island's magnificent beach, he explained.

"There could be a modern outdoor ice-skating rink, popular cold-weather attraction that people in the area have wanted for many years, as well as a wide variety of restaurants and shops to fit every budget and satisfy every taste."

In the days and weeks ahead, Bloomberg said that the rezoning framework will continue to be shared with the community, "with an eye toward beginning the formal public review and approval process early in 2008…I'm confident that, just as public input has strengthened every other rezoning we've undertaken in Brooklyn, the comments we get on this plan will produce a consensus about Coney Island's bright and exciting future."

Bloomberg also said that "we've already committed $100 million over the next four years for designing and creating new streetscapes on Surf Avenue, for a major makeover of Steeplechase Plaza, for re-landscaping the area around the Aquarium, and for other amenities that will make the area more attractive to private capital." He explained that in order to achieve the model of an amusement district, the city will work with existing landowners to acquire many of the properties in Coney East.

One such land owner is Thor Equities, which owns Astroland and other Coney Island properties. Calls to Thor Equities for comment were unreturned by deadline.