Sodom by the Sea
Called “the People’s Playground,” Coney Island is perhaps the most popular piece of New York City’s entertainment puzzle, Times Square and the Bowery having been thoroughly scrubbed of any excitement the past few decades. Chic and refined it’s not—at least not yet—but in terms of crowds, ice cream cones, corn dogs and cheap(ish) amusements, this corner of the city is the one calling.
The season may be over, but the enthusiams persists.
Today, the city’s Economic Development Corporation announced an RFP seeking the development and operation of new amusement rides, game booths and other entertainment attractions at a vacant site at the heart of the Coney’s amusement hub.
Imagine, if you will, the landscape of New York City 15 years hence. A drive to Citi Field in Willets Point takes you past a pleasant if overpriced cluster of residential buildings, rather than seedy chop-shops. Roosevelt Island is home to a sprawling $2 billion applied-sciences campus spinning out an army of developers to populate ping-pong-table-clad start-up clusters from Dumbo to Union Square. On Manhattan’s far West Side, the rezoned stretch of Hudson Yards offers millions of square feet for office space, housing and retail and 14 acres of open public space. You can already see traces of a more built-up, scrubbed-down New York in Luna Park’s freshly-painted Scream Zone, the first new roller-coasters Coney Island has seen in 80 years, and the rapidly-metastasizing arena at Atlantic Yards, which will soon play home court to the rebranded Brooklyn Nets.
It’s hardly a scenario Seth Pinsky could have imagined in September 2008, when Lehman Brothers collapsed just seven months into his tenure as president of the New York City Economic Development Corporation (EDC), a not-for-profit arm of the Mayor’s office charged with fostering economic growth across the five boroughs.
At the time, Mr. Pinsky was a 36-year-old former lawyer and investment analyst, only a few years removed from a private sector gig refinancing real estate deals for the big banks as an associate at Cleary Gottlieb. He had one big win under his belt—jump-starting the World Trade Center redevelopment project—but he didn’t have “a political bone in his body,” as one insider put it. “People kept saying to me, ‘Wow, you’re the head of the Economic Development Corporation? We’re in an economic meltdown!’’ Mr. Pinsky told The Observer.
“At the time it meant, ‘You must be really crazy.’”
alley vs. valley
Mayor Michael Bloomberg’s latest scheme to foster tech talent in New York City called for a world-class university to establish a significant presence here, and he’s gotten a few nibbles. One is from a big fish: Stanford University is seriously considering a research and engineering campus in New York and announced some specifics as Read More