It's tricky to know what to make of the news, via a Daily News exclusive yesterday, that Thor's much-debated development plan for Coney Island is "dead in the water." Sure, the city's annoyed by the developer's plan for time-shares, and there's that pesky $100 million in city subsidies to make the project happen. But it's the fear that Thor might flip the property after development that strikes us as the best reason to be very afraid, and to think this baby really is dead. Gem quote from the unnamed official (who our friends at Gowanus Lounge suggest is probably Economic Development Corp. director Robert Lieber or Deputy Mayor Dan Doctoroff himself): "It was clearly designed merely to try to get a lucrative zoning change and massive city funding without genuine regard to Coney Island's future. It's atrocious."
· $1.5B Vegas Plan for Coney Island is History, Official Says [NYDailyNews]
· Latest Coney Island Twist: Thor Plan May Be Dead in Water [Gowanus Lounge]