Coney Island could be on its way to becoming more than just the home of the famous hot dog eating contest.
In an effort to bolster Coney Island’s economic and community landscape, The Coney project continues to make waves as developers navigate the approval process.
Backed by Global Gaming Solutions, Thor Equities, Saratoga Casino Holdings, and Legends Hospitality Group, this ambitious proposal seeks to solidify Coney Island’s place as a year-round economic hub through a $3 billion casino and entertainment complex.
Coney Island Casino May Offer Growth Opportunities
The Coney project promises transformative change with a design spanning three blocks along Surf Avenue, anchored by a casino, a 500-room hotel, a convention center, a concert venue, and retail spaces.
These elements are set within architecturally ambitious structures, with towers ranging from 153 to 402 feet in height. The intent is clear: to cultivate thriving tourism and local engagement beyond the traditional summer season.
Addressing Concerns the Community Has About The Coney
In response to community feedback, developers have addressed specific worries over infrastructure and accessibility.
The group behind the project recently announced a $10 million grant aimed at enhancing ferry terminal infrastructure, with the goal of making ferry service to Coney Island more attainable. This move comes after recognizing the long-standing demand and stalled efforts for ferry connectivity.
Other concerns recently addressed, include:
- A $200 million community trust fund to support projects and initiatives important to Coney Island
- A $75 million public safety fund to support FDNY/NYPD/EMS services in Coney Island
- 90-day local hiring window for Coney Island residents
- Local workforce training initiatives
The project took a big step forward when supporters made broader commitments to enhancing local safety, education, small businesses, and open spaces, and allocating money for public safety services, including support for local police, fire, and EMS operations.
What Type of Economic and Social Impact Would The Coney Project Have?
The economic projections indicate the creation of over 10,000 jobs, with substantial opportunities in union construction and permanent positions. The commitment extends to a 90-day local hiring window and workforce training initiatives, intentionally embedding the project within the community fabric.
Developers also propose a community investment program, inviting local residents to hold a tangible stake and directly benefit from the project's success. This initiative underscores a commitment to equitable growth and community integration.
Getting a Downstate Casino License is Just One of the Challenges Ahead
While the New York City Council has approved necessary rezoning measures, the project still requires securing one of the coveted downstate casino licenses from New York State. The competitive nature of this process adds layers of complexity, with the final decision anticipated by the end of 2025.
There are eight contenders, including:
- Freedom Plaza (Manhattan's East Side)
- Caesars (Times Square)
- Empire City (MGM, Yonkers)
- Resorts World (Queens)
- The Avenir (Midtown Manhattan)
- Bally’s (Bronx)
- Metropolitan Park (Flushing)
Many welcome the promise of jobs and investment, while some express apprehensions about potential disruptions, traffic, increased crime, and impacts on local businesses and historic amusement sites.
A Coney Island Casino Offers a Vision for Year-round Revitalization
Ultimately, The Coney casino project aspires to not only boost Coney Island’s seasonal appeal but also to establish it as a beacon of economic vitality year-round.
By preserving iconic landmarks like Luna Park and the Wonder Wheel and introducing innovative architectural designs, the stakeholders aim to harmonize Coney Island’s historic charm with modern development.
As the journey progresses, ongoing community engagement and responsive leadership will be critical in realizing this vision. Only time will tell how The Coney project will reshape the future of Coney Island, weaving new chapters into its storied legacy.
