RYBAK Development has been selected to lead the next phase of development on Coney Island West, New York City Economic Development Corporation (NYCEDC) said Tuesday. With a cost projected at $350 million, the development of the city-owned Parcel A will result in 500-plus units of mixed-income housing, 25% of which will be affordable, and 30,000-plus square feet of ground-floor retail.
Named Tilyou Towers, for George C. Tilyou, founder of Steeplechase Park, and designed by Brooklyn-based IMC Architecture, the development will also replace existing public surface parking with new public structured parking. Construction is expected to begin 2027, with completion targeted for 2030.
“Utilizing public land for housing is a critical way to increase our supply, and between today’s announcement and other projects underway across the neighborhood, Coney Island will continue to be a thriving, iconic New York City neighborhood for tourists and locals alike,” said NYCEDC president & CEO Andrew Kimball.
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