The Coney Island Casino project has been ticking its boxes, with its latest win being the rezoning approval it secured from the New York City Council this past Monday.
And this came just after it was announced by the New York Gaming Facility Location Board as one of the eight casinos to compete for the state’s three casino licenses.
Locals Conflicted with the council’s approval
The City Council officially signed off on the casino measure with a 36-11 vote, though four members chose not to vote at all.
This means Coney can now move ahead with its ambitious $3.4 billion plan for the People’s Playground.
Basically, this decision grants them permission to reform Bowery Street and buy up unused air rights over existing streets and buildings, which is key for them to build three towering high-rises and two pedestrian bridges.
However, even with this promising development for the district, some local groups and residents are still seriously worried about more traffic and potential crime.
Another of their concerns also includes the island losing its unique historic charm and small, local businesses. Adam Rinn, the artistic director at Coney Island USA, said:
“It’s disappointing that we have elected officials who are here to represent the people. And let’s be clear about that word: the people. Their constituents, not the folks with big money, not the developers. We have over 20,000 signatures opposing this casino project. And the nerve, the nerve of these elected officials to not take that into consideration. This is not a project that is here to help; this is a project that is set to destroy.”
What’s in the blueprint?
The Coney Island Casino project is being spearheaded in partnership with Global Gaming Solutions (the Chickasaw Nation’s business arm), Saratoga Casino Holdings, Legends and Thor Equities.
And what we can expect from the proposed Brooklyn facility includes:
-
3 new high-rise towers (153 to 402 feet tall)
-
A 500-room hotel
-
92,000-square-foot convention center.
-
A 2,400-seat performance venue, retail outlets, and dining
-
A 1,500-space parking structure
The proponents of this project have rained praises on how this will be an economic boost, especially for local businesses. In addition, the casino project is expected to create about 4,000 jobs while under construction and 4,500 jobs after construction.
The supporters of this New York casino project have not been sitting down to just yapping on about what they want, as for this cause they collected 1,000 signatures and 600 letters of support from New York City Housing Authority (NYCHA) residents.
“Today’s vote continues to show that the more people learn about our project and the benefits it will bring, the more they like it. We now move one step closer to fulfilling a promise of economic transformation for Coney Island that includes the creation of thousands of jobs and a $200 million locally led community trust fund,” Melissa Gliatta, COO of Thor Equities, said.
What are the numbers saying?
If the Coney team pulls this off, their complex is expected to pump over $1.27 billion into the local economy every year, with a huge chunk—about $1.13 billion—directly benefiting Brooklyn.
On top of that, the developers have promised a $200 million community trust. This fund is meant to help with local improvements, boost economic opportunities for residents, and get the community more involved.
There’s also a commitment for an extra $15 million annually, specifically for local police, fire, and EMS services.
Now, how do they get there? Each application is currently being scrutinized by its own special group, a Community Advisory Committee (CAC). These committees have six members, all appointed by local elected officials. Every CAC has to hold at least two public hearings to hear what people think, and then they must cast their final vote on the applications by September 30th.
Only applications that get a thumbs-up from at least two-thirds of their CAC will even be considered by the main board for the final decision.
About the Author
