Residential Adjacent To Amusements Incompatible, Says City
Thor Equities is getter further pressure from the city as Chairwoman Amanda Burden criticized the part of Thor’s plan that calls for residential condominium towers to be erected on part of what is currently the amusement zone.
While at a Crain’s New York breakfast presentation Burden said, “Amusements are incompatible with immediate adjacent residential use.".
Although the New York Sun reported that the city is signaling a no-go for the luxury towers, what seems to be only evident is a continuing courtship between Thor and the City.
The New York Sun reports:
The developer [Thor] says it must finance the amusements with the inclusion of about 700 luxury condominiums along the boardwalk. Market studies show that they need both the extra people and added revenue from the units to make the development financially viable, Thor Equities has said. Last month, the developer threatened to scuttle its plans for the amusement park if the city disallows the residential apartments.What sounds a bit confusing is that Ms. Burden claims that she is in agreement with rezoning the area for ‘allowance’ of building residential units in the ‘surrounding area’, calling it important for the project. And she goes on stating that, however, residential units in the ‘heart’ of the amusement district would detract form the overall revitalization. What sounds vague is that what is already zoned for amusements is what most consider already the heart of the amusement district. To rezone any of that area is the same as allowing the residential in the heart of it, anyway.
Whatever decision is ultimately reached after all this plays out between Thor and City, any zoning changes are going to have to be made through the city’s uniform land use review process (ULURP), which also requires approval from the Planning Commission and the City Council
Silberstein has said, “We continue to work with the administration to formulate a plan that can be implemented for Coney Island".
City Signals No-Go for Coney Island Luxury Tower [NY Sun]