Bloomberg’s Fantasy Come To Life! Nine-Story Building Planned For Coney Island Waterfront

It appears Bloomberg’s dream of transforming Coney Island into a seaside resort is finally getting off the ground.

Development firm iStar Financial filed plans Friday for a nine-story, 95-foot-tall residential building in the lot sandwiched between the Abe Stark Skating Arena and the soon-to-open Coney Island Amphitheater. The new building, located at 2002 Surf Avenue, will have 135 units in the 107,000-square-foot space. There will be 8,000 square feet dedicated to commercial space, according to the plans. Probably most alarming to the community, the project only includes nine enclosed parking spaces.

The Real Deal, which first uncovered the plans, reports the building will include and outdoor courtyard on the second floor as well as a lounge, terrace and open-air roof deck. The development will also house a “a philanthropic or nonprofit institution,” according to the Real Deal, and is part of the plans by iStar to eventually bring 1 million square feet of housing to Coney island’s waterfront.

If iStar sounds familiar, that because the company is behind the project to transform the landmarked Child’s Restaurant into the Amphitheater — scheduled to host its first act, Ziggy Marley, in late June.

The renovation of the Child’s Restaurant is one of many projects taking place in Coney Island amidst an aggressive push by the city and developers to revitalize the amusement district.

In 2009, under the leadership of then-Mayor Michael Bloomberg, the city introduced a sweeping rezoning plan for a 19-block area in Coney Island. While seeking to rejuvenate the neighborhood’s historic landmarks and attractions, it would also scatter seaside hotels and pricy apartment buildings throughout the waterfront.

iStar’s proposal to bring a nine-story residential building right up against the boardwalk indicates the plan is starting to bear fruit. The development is also perilously close to the Abe Start Skating Arena, which the Bloomberg proposal hopes to eventually relocate so the space can be used for apartment buildings.