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Old Posted Oct 15, 2008, 9:23 PM
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The Time To Build Is Now
Join Date: May 2008
Location: Bronx, NYC
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Updated On 10/15/08 at 02:51PM

City acquires first parcel in Coney Island

Wonder Wheel

The city's Economic Development Corp. announced today it has bought one acre of land in the Coney Island amusement core for $11 million from Ward Realty Corp. The Ward family is the oldest landowner in Coney Island. This is the first deal of what the city expects to be a series of land acquisitions in coming months in its plan to create a 12-acre, year-round entertainment district in Coney Island. The current tenant, Wonder Wheel Park (which has the landmarked Wonder Wheel), maintains a lease to operate on the property through 2020, and the property falls within the nine-acre planned parkland in the district. With this acquisition, the city now owns four acres in the Coney Island footprint. TRD
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