Why NYC Is Pouring $1 Billion Into a New Coney Island

NYC Commits $1 Billion to Transform Coney Island With New Homes, Stronger Shoreline, and a Rebuilt Boardwalk

New York City is making its biggest move in years to reimagine Coney Island—one of the city’s most iconic waterfront neighborhoods. Mayor Eric Adams has announced a sweeping $1 billion investment aimed at strengthening the shoreline, expanding housing, and creating a safer, more resilient environment for families.

As reported by NY Buzz, the initiative reflects the administration’s broader push to make New York a more affordable and livable city while preserving the historic character of neighborhoods that define its identity.

A Rebuilt Boardwalk for the Next 100 Years

At the heart of the redevelopment is a full restoration of the 2.7-mile Riegelmann Boardwalk, a landmark more than a century old. The reconstruction will focus on:

• Improving climate resiliency to withstand storms and rising sea levels
• Enhancing accessibility for all visitors
• Upgrading public amenities like restrooms, lifeguard stations, and shade pavilions

The city will work closely with the Economic Development Corporation and local communities to design a boardwalk that maintains its historic charm while preparing for future challenges.

1,500 New Homes — With 25% Affordable

Housing is a central pillar of the plan. The proposal includes 1,500 new mixed-income homes, with 25% reserved as affordable housing.

One major development will transform an underused city-owned parking lot into more than 500 apartments, ground-floor retail, and structured public parking. Not only does this increase housing supply, but it also contributes to broader flood-resiliency efforts across the peninsula.

This aligns with Mayor Adams’ ongoing record of expanding housing access. His administration has already created, preserved, or planned more than 433,000 homes, breaking multiple city records for affordable and supportive housing.

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A Modernized Abe Stark Sports Center

The beloved Abe Stark Sports Center, home to a popular ice-skating rink since 1970, will receive a $42 million renovation. The upgrade will feature:

• Modernized skating facilities
• A new entrance facing the boardwalk
• Updated signage and community-oriented design

The project aims to create a stronger link between the sports center, neighborhood residents, and visitors enjoying the shoreline.

A Safer, Cleaner, More Vibrant Community

The Adams administration is also supporting efforts to establish a Business Improvement District (BID), which would unite local businesses and community organizations to enhance public safety, cleanliness, and economic activity year-round.

Combined with major infrastructure investments—including better streets and sewers—Coney Island is poised to become a more connected, resilient waterfront community.

A Broader Push for a More Affordable NYC

This Coney Island redevelopment fits into a larger strategy that includes:

• The “City of Yes for Housing Opportunity” plan to add 80,000 new homes
• Major neighborhood plans in Jamaica, Midtown South, Long Island City, and the Bronx
• Expanding programs that protect tenants and help homeowners avoid displacement
• New tools secured in the 2024 state budget to accelerate housing creation

From office-to-housing conversions to modernizing zoning restrictions, the city is adopting aggressive steps to address the housing crisis.

What This Means for Coney Island’s Future

With its mix of affordable housing, infrastructure upgrades, climate-resilient shoreline improvements, and revitalized recreational spaces, this $1 billion commitment aims to secure Coney Island’s status as one of New York’s most treasured destinations.

It’s not just a renovation—it’s a multigenerational investment in a neighborhood that has shaped New York’s culture for decades and will continue to do so for years to come.