NEW YORK - A Coney Island for the new millennium, combining $2.5 billion in private investment with flourishes from its storied past, was unveiled yesterday by Mayor Michael Bloomberg as the city released its plan to convert the fading beachfront into a world-class year-round attraction.
The much-anticipated proposal, announced at a Brooklyn restaurant, splits the neighborhood into three development zones while ensuring an 11-block stretch along its famous boardwalk will remain "the world's most famous urban amusement park in perpetuity," Bloomberg said.
That area, which includes the landmarked Cyclone roller coaster, the Wonder Wheel, and the doomed Astroland amusement park, would be rezoned to allow creation of everything from restaurants and hotels to a skating rink and new amusements, Bloomberg said.
"We all recognize that Coney Island isn't what it could be," Bloomberg said. "But rather than focus on the faded glory of Coney Island's past, or the unfulfilled potential of its future, let's look at how we can create a better future."