In total, the Coney Island rezoning would encompass 47 acres of developable land. According to the DEIS, the plan would establish a 27-acre amusement and entertainment district that would include a 9.39-acre mapped open amusement park as its centerpiece. Outside the mapped parkland, the proposed rezoning aims to create 584,664 square feet of amusement and amusement-enhancing uses including restaurants; 606 hotel rooms; 2,408 residential units, of which 607 would be affordable; 43,236 square feet of accessory retail in the so-called Coney East subdistrict; 277,715 square feet of general retail outside the amusement and entertainment district; and 3,803 parking spaces, including 566 spaces for public use.

In a presentation last week to the Associated Builders and Owners of Greater New York, Tokumbo Shobowale, COO of the New York City Economic Development Corp., cited the importance of establishing Coney Island as a year-round destination. A statement from Mayor Michael Bloomberg issued Monday afternoon reiterates that priority.

"The plan to revitalize Coney Island will substantially increase the storied amusement area, creating a year-round attraction that will bring tourists and visitors to Brooklyn," he says. "And as we enhance that historic asset, we will also pave the way to the north and west for the development of more than 4,500 housing units and the creation of thousands of permanent and construction jobs. This plan protects and preserves the unique character of Coney Island while bringing new housing, shops and recreational facilities to a community that needs more of each."

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Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.