Taconic Steps Into Thor’s Shadow
In the last couple of weeks there has been a lull in the impending Condo Coney scenario starting with the opposition’s rally which hopefully has not begun to fizzle and Thor Equities trying to make nice by commenting on scaling back the residential components a bit, to reestablishing Lola Staar and the Grill House’s leases without the gag-order. But lurking in the shadows of what may have seemed like a small step in the right direction was something else. It was well known that Thor was not the only big player in Coney….there was another. Now Taconic has made clearer their objectives for Coney Island with a large scale development plan, having the potential to grow from the already 5 acres to 11 acres.
In their investment strategy for Coney Island North and South Ventures they state:
In light of the recent significant public initiative towards the redevelopment and rezoning of Coney Island, the overall housing/demographic trends throughout Brooklyn and the immediately adjacent neighborhoods and most importantly, the proximity of the development sites to the Atlantic Ocean and mass transportation, the property is extremely well poised to be one of the most important development sites in all of the five boroughsEven though most of their property lies in the outskirts and adjacent to the amusement C7 zones which are now mostly owned by Thor Equities, a residential and retail development this large in Coney Island, on one end may be a good thing, on the other; may strengthen the power Thor will have over the City to continue their condo quest and eradicate all what’s left of the amusement area.