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Mayor Bloomberg's controversial plans to rezone and develop the Coney Island amusement district have been long stymied due to a breakdown in negotiations between the city and developer Joe Sitt, who has bought up much of the beachfront property in the area targeted for development. The city wants to purchase Sitt's 10.5 acres of property, which includes the now-desolate Astroland, for approximately $110 million, according to the Post.
Sitt, whose grandiose plan to build a $1.5 billion Vegas-style amusement, entertainment and high-rise condo complex was thwarted by the city, now wants $200 million to $250 million for the properties, which is roughly double what he paid accumulating them. The two sides have been at an impasse since last year, and Sitt's spokesman tells the Post, "There are no ongoing talks whatsoever." But there could be another solution to all this: buried in the 1,000-page environmental impact statement released by the city in January is an acknowledgment that Boardwalk properties "could be acquired through condemnation, as necessary."
The president of the city's Economic Development Corp. says the administration "doesn't think" eminent domain will be necessary, and the Municipal Art Society, which has been critical of both Sitt's plans and the city's proposal, says it should only be used as a last resort because such a tactic would inevitably be dragged out in court. (Cf. Atlantic Yards.) But the option is officially on the table, and some Sitt opponents would love nothing more than to see the developer get zilch for the property he's been using as leverage against the city as he threatens to create a summertime Boardwalk dystopia of shuttered businesses and vacant amusement parks.
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I typically can't stand eminent domain rulings but here I say: use it and take the land back. Just another greedy developer who got caught with his pants down when the market crashed and now he's trying to salvage anything he can from his mistake.
some Sitt opponents would love nothing more than to see the developer get zilch for the property
That wouldn't happen. That's not how eminent domain works. If the city uses eminent domain, they would still have to pay Sitt what they consider fair market value. But that would be half of what Sitt wants.
I've been saying for a while now that the city needs to do this. Put some fear of God (or Bloomberg) in Sitt so he's willing to negotiate. And do it fast before he does any more damage.
The Amuxement District in Coney Island is now mostly cold, barren and desolate, particularly in winter.
Proposing an open air park and entertainment area would not change that much. What the City is currently proposing is the spending of more public money with little return in order to mollify implacable opponents who are only going to be totally appeased if nothing is done.
Why not build something first class to attract visitors and tourists, raise revenue and improve the neighborhood.
Ball playing could be allowed on the beach during the offseason and an enclosed building would encourage visits to the Amusement District, especially in inclement weather.
Any developer worth his salt would include public ammenitities, if only to make visitors conforaable. In fact, a new first class development could include outsized but attractive playground equipment to encourage kids to come on down and have fun.
neil
Just use eminent domain already. This jerk Sitt just wants to put a Target and other retail in. His buddy Rechhia is the local Coney councilman. Do the math. It's time for Bloomberg to step up and just do it. Let it go to court. I'd rather take the court bog down than all of the bickering from all sides now.