The $1.5 billion Coney Island redevelopment project is set to begin - to the dismay of many business owners and ride operators on the boardwalk.
Developer Thor Equities has purchased 10 acres of waterfront property, and according to the New York Daily News has given notice to eight tenants to be out by the end of their lease on Dec. 31.
The New York Daily News reports six renters are housed in the historic Henderson Building on Stillwell Avenue, and two more are along West 12th Street and Stillwell Avenue. Those eight tenants operate more than a dozen businesses, including the Zipper and Spider rides, go-carts, batting cages, a boat ride and the rock climbing wall on Stillwell Ave.
The developer says in order to make room for the new Stillwell Avenue promenade and newer residential and entertainment features for the revitalization of the neighborhood, changes are inevitable. "The effort to transform Coney Island and recapture its past glory involves the demolition of a number of existing structures," Thor Equities spokesman Lee Silberstein told the New York Daily News. "Therefore, to allow the new development to proceed in a timely manner, occupancy agreements with some of the tenants are not being renewed."
The company added that 11 boardwalk businesses would be granted at least one more summer, according to the New York Post, while Ruby's Bar and Grill, Cha-Cha's and Shoot the Freak paintball will be given the chance to become part of the new plan.
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