Brooklyn - Developer Ready To Update Coney

Brooklyn, NY - After a half-century of neglect, Coney Island is targeted for a $1 billion renovation aimed at creating a year-round attraction to compete against the theme parks that nearly obliterated the neighborhood.
The work is at least a year off, but it's already the buzz of the water front. "Coney Island seemed like it was in a time warp, and would never change," said Dick Zigun, operator by the Seashore attraction. "Why not have a bigger, better, more exciting Coney Island?"

The developer hopes for a final plan by July 1, with a variety of projects including a high-end hotel (perhaps shaped like a roller coaster), a water park, retail outlets and residential property.

Today, the area is a mix of vacant lots and vintage storefronts.