Description

In collaboration with New York City’s Economic Development Corporation, the Coney Island Development Corporation sought to develop a strategy for the revitalization of the Coney Island community. TWG was selected to create a business plan and financial strategy for this initiative, which centered on the renovation and development of five “community anchors”—including the B&B Carousell, Steeplechase Park, and the NY Aquarium. TWG’s business plan envisioned these projects as focal points in a community-wide civic improvement program. As an economic development strategy, the enhancement of these community assets would be a catalyst for attracting private investment to the community.  The selection of these amenities was designed to enhance and preserve the neighborhood’s unique character and identity. This initiative also sought to foster responsible redevelopment of a community on the brink of enormous change. Subsequent to TWG’s plan, major public and private investments were made in virtually all of the identified projects.