Developers behind “The Coney,” a proposed $3 billion casino on Coney Island, have pledged a $200 million community trust fund in a bid to gain support for the project. The announcement comes as the casino proposal faces scrutiny ahead of public hearings.
The fund, if approved, will be managed by a board of local stakeholders and directed toward initiatives such as boardwalk improvements, safety enhancements, workforce development, and public art.
“Coney Island is an incredible community, and this $200 million trust will help make it even better for generations to come,” said Robert Cornegy, project spokesperson and former city council member. “The Coney is going to bring much-needed year-round jobs and economic development to Coney Island.”
Supporters, including several community leaders, believe the project will provide a much-needed economic boost to the area, which relies heavily on seasonal tourism.
“By approving this project, you will open the door to new funding, which will raise the quality of life for the people in Coney Island,” said Pat Singer, founder of the Brighton Beach Neighborhood Association. She cited long-overdue repairs to the iconic boardwalk as a key benefit.
However, critics warn of potential downsides, such as increased rents and property taxes, congestion, and threats to the area’s character.
Charles Denson, executive director of the Coney Island History Project, described the zoning proposal for the project as a “greedy land grab” and a “catastrophic destruction of the entire neighborhood.”
Local organization Coney Island USA has also voiced opposition, urging residents to resist what it called destructive development that could jeopardize the arts and culture of the area.
In response to concerns, developers have added community-oriented features to the plan, including a public rooftop garden with scenic views of the boardwalk and beach. The space will be accessible without requiring casino entry.
The development group has already contributed $50,000 to renovate basketball courts at Surfside Gardens NYCHA and hosted a free kids’ basketball clinic as part of its efforts to engage with the community.
To proceed, developers have submitted a land use application requesting zoning changes, including the closure of Bowery Street and purchasing air rights over adjacent streets to construct taller buildings linked by pedestrian bridges.
The Land Use Committee of Community Board 13 will vote on the proposal on Jan. 15, followed by a full board vote on Jan. 22.
“The Coney” is among nearly a dozen contenders for three downstate New York gaming licenses. Applications are due later this year, and the state Gaming Facility Location Board will make final decisions in December.
Before licenses are granted, a Community Advisory Committee must assess public support. Without sufficient backing, the proposal could fail to advance. The casino’s fate hinges on the ability to reconcile community concerns with its promised benefits.
Original article: https://www.yogonet.com/international/news/2025/01/10/91388-developers-of-proposed-coney-island-casino-pledge-200m-community-trust
