Renovation to take Coney Island on a wild return ride to relevance

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NEW YORK -- It's springtime in Coney Island, with all the familiar signs of the coming tourist season: The beer flows at Ruby's on the boardwalk, a "help wanted" sign rests outside Nathan's Famous, stuffed animals appear in the cramped arcades.

A soft ocean breeze rolls off the Atlantic -- but by next summer, the winds of change will blow hard through the venerable Brooklyn beachfront, where millions of Americans have frolicked and where both the hot dog and the roller coaster debuted.

After a half-century of neglect, Coney Island is targeted for a $1 billion renovation aimed at creating a year-round attraction to compete against the theme parks that nearly obliterated the neighborhood. The work is at least a year off, but it's already the buzz of the beach.

"Coney Island seemed like it was in a time warp and would never change," said Dick Zigun, operator of the local Sideshows By the Seashore attraction. "Why not have a bigger, better, more exciting Coney Island?"

Other local merchants agree, although some wonder whether the unique local flavor will disappear once Thor Equities starts developing its $100 million in recently purchased properties.

"People are worried about losing the certain character that Coney Island has always had," said Carol Albert, whose family runs the legendary Cyclone roller coaster and the Astroland Amusement Park. "It's a fine line. You don't want to lose the character, but ..."

The "but" rests with Thor, developer of a three-block-long, one-block-deep section off the boardwalk, along with some other properties. Its chief executive officer and founder, Joe Sitt, has a personal interest in the Coney Island project: He's a Brooklyn native and still jogs along the boardwalk.

Mr. Sitt's local roots were a boon in avoiding the pitfalls that often plague major development, said Chuck Reichenthal, head of Community Board 13 in Coney Island.

"He really does understand what Coney Island was, what it is and what it can be," Mr. Reichenthal said.

The developer hopes for a final plan by July 1, with a variety of projects including a high-end hotel (perhaps shaped like a roller coaster), a water park, retail outlets and residential property.