From the NY Post:
Mayor Bloomberg's plan to revitalize Coney Island could mean the end of the original Nathan's Famous hot-dog stand.
That revelation is hidden deep within the draft of the 47-acre rezoning plan's environmental-impact statement, which the city submitted yesterday.
The Nathan's site - which opened at the corner of Surf and Stillwell avenues in 1916 - could make way for more lucrative development should land values skyrocket once the rezoning is approved.
"Nathan's Famous restaurant...is assumed to be replaced under the proposed actions with a new building containing hotel, amusement, retail and enhancing uses," according to the city document.
Nathan's denies it has intentions to move or close its original Coney Island location.
Meanwhile, Crain's reports:
The main element of the new amusement district will be a 12-acre park that will knit together the Cyclone, the boardwalk and other Coney Island icons. Right now, the city owns about half of that land and pledges to continue negotiating for the rest.
However, the city has been negotiating with Joe Sitt of Thor Equities, one of the main landowners in the area, and made little progress. Those talks have now stalled and the city's rezoning plan may not get them re-started.
Why not just use eminent domain? Or is that only reserved for small businesses and homeowners and not something rich developers have to be concerned about?