Coney Island’s $3 Billion Casino Plan Hits a Massive Roadblock

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The ambitious $3 billion proposal to bring a casino and entertainment complex to Coney Island’s iconic boardwalk is facing significant challenges after a pivotal vote from Brooklyn’s Community Board 13. On Wednesday, the board’s land-use committee rejected an application crucial to the project, casting doubt on the future of “The Coney,” a sprawling development featuring a casino, a 500-room hotel, a convention center, and concert venues. This rejection represents a major setback for the Thor Equities-led project, which hinges on securing one of three state casino licenses to be awarded later this year.

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The vote itself, which ultimately resulted in a negative outcome for the new casino, revolved around land-use changes necessary for the casino project, including closing certain streets and acquiring air rights to construct high-rise towers and pedestrian bridges. The committee’s decision, while not final, is expected to heavily influence the full community board’s upcoming vote. Historically, the board’s recommendations play a key role in the city’s land-use approval process, even though the final decisions rest with the City Council.

Critics of the plan, like committee member Angela Kravtchenko, voiced strong opposition, citing concerns over increased traffic, crime, and the negative social impacts of the project. These issues have long fueled debates over whether such developments truly serve the communities where they’re located. The proposal’s supporters argue that the benefits, including job creation, tourism growth, and community investment, outweigh the drawbacks. The development team has emphasized its commitment to the neighborhood, pledging $200 million to a community trust fund for boardwalk upgrades, safety improvements, and local grants.

Despite the setback, the developers remain optimistic. A spokesperson for the project highlighted growing support from certain community members and stakeholders, framing the proposal as a transformative opportunity for Coney Island. They assert that “The Coney” represents not just an entertainment complex but also a chance to revitalize the area and make historic investments in its infrastructure.

The stakes are particularly high as this project competes against at least ten other development teams for one of the state’s coveted casino licenses. Notably, only four proposals, including “The Coney,” require significant land-use changes, which adds further pressure to their approval processes. Earlier this month, a separate proposal for a $12 billion casino at Hudson Yards was also dealt a major blow when Manhattan’s Community Board 4 rejected a necessary zoning change.

Meanwhile, residents and stakeholders are left grappling with the bigger question: what is the future of Coney Island? The area’s unique charm and history have made it an iconic destination for decades, but its economic potential remains largely untapped compared to other parts of New York City, which is something Coney Island’s casino plans could solve. However, residents are still undecided on whether this project aligns with the community’s vision. For now, Coney Island’s casino dreams hang in the balance, awaiting the next round of decisions. And with so much at stake, all eyes remain on the ongoing deliberations.

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