Rendering of Coney Island North Venture via The Prusik Group
It’s slated to be a big year for Coney Island–and not just when it comes to new rides and attractions. A massive development will join the growing redevelopment of the beachfront locale, which will be home to at least four major projects totaling 2,151 units in the coming years. According to CityRealty, Taconic Investment Partners and The Prusik Group are planning to build a ground-up, mixed-use complex tentatively referred to as “Coney Island North Venture.” It’ll be comprised of 1,000 apartments, 80,000 square feet of office space, and 150,000 square feet of retail along Surf Avenue. The complex will join a new 42-story tower, plus a 440-unit development that will boast its very own trolley.
Taconic and Prusik Group’s project will span three blocks, filling in vacant space and parking lots. The design includes various buildings heights, with the tallest reaching about 14 stories. It’ll be topped with an accessible rooftop that will likely come with stunning views of the beach. It’s slated to wrap construction in 2020.
Taconic acquired the parcels in June 2005, just two years after the City of New York formed the Coney Island Development Corporation to oversee redevelopment of the neighborhood. The sale also included a southern parcel, which the developer refers to as the “Coney Island South Venture.” That one encompasses 5.5 acres over four blocks along the beachfront–and there’s no word yet on what on what will fill them.
The project joins a host of others happening around the neighborhood. Last month CityRealty reported that construction started on a 42-story, 576-unit rental at 532 Neptune Avenue, dubbed “Neptune/Sixth.” Construction’s also kicked off at “Surf Vets Place,” a housing development with a mix of affordable and supportive housing, as well as “Ocean Dreams,” a 440-unit development from billionaire developer John Catsimatidis.
Over at Ocean Dreams, there will be a “Coney Island Trolley” operating from the building, located at 3514 Surf Avenue. It’ll take not just residents of the market-rate apartments, but everybody, from the building to the Stillwell Avenue subway station. It’s expected to debut in 2019.
- 135 Units of Affordable Housing Planned for the Coney Island Boardwalk
- John Catsimatidis wants his Coney Island development to have its own street car
- Coney Island to add 150,000 square feet of new rides and attractions by 2018
Neighborhoods : Coney Island