Eliot Brown reported for the New York Observer:
David Lombino, a spokesman for the Economic Development Corporation, which runs the project for the city, was less specific, but said in a statement that the needed investment would be significant:
Any plan for revitalizing Coney Island will require a major infrastructure investment. You can’t develop thousands of units of housing, rebuild the amusement district, or create thousands of new jobs without a significant upgrade. Between investments in storm water systems, sewers, sanitation, utilities, roads, streetscapes, sidewalks, and raising the grade above the 100-year flood plain -- all of this in an area that is larger than the proposed rezoning -- it will likely cost the public and private sectors hundreds of millions of dollars over several years. Abandoning Coney Island is not an option and approving the city’s zoning plan is the only way that any of these critical investments will be made.
All this seems to give less hope that anything will happen in Coney Island, especially in our economic crisis. This strongly points out the need to keep Coney Island small with independent operators. The city should make a new approach and devise a strategy to lure and work with smaller independents instead of attempting to make something on a grand scale.
'Hundreds of Millions' in Infrastructure [NY Observer]