Bloomberg's Coney Island Dream

NYC has purchased 7 acres of Coney Island from a developer, with the hopes of breathing new life into the People's Playground.

"'I think the city made a good choice in buying the land in order to the area along the boardwalk for amusements forever,' said Dennis Vourderis, who family runs the only amusement park left, Dino's, and the Wonder Wheel, a city landmark. 'It won't be threatened by the development of apartments, shopping malls, or anything else. Now the question is, Who do we bring in to build this billion dollar amusement park.'"

"The Bloomberg administration has said it would not allow the site to lie fallow. It plans to find an interim operator and invest money in sprucing up the nearby Aquarium, designating up to 12 acres for amusements, renovating Steeplechase Plaza, creating a new park and installing a refurbished wooden carousel."

Full Story: City to Buy 7 Acres in Coney Island, Hoping to Spark a Revival

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