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You are at:Home ยป The new Coney Island development adds to the local housing boom
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The new Coney Island development adds to the local housing boom

Machinery AsiaBy Machinery AsiaNovember 13, 2025No Comments4 Mins Read
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New York City sells land on Coney Island to RYBAK Development in exchange for housing. The company will spend more than $350 million to build just over 500 units, 122 of which are considered affordable, in a building with additional retail and community space.

What will eventually be two 28-story towers on either side of an 11-story section are part of a broader push by the city to build new housing and improve infrastructure in the waterfront neighborhood. Three other housing developments on the other side of the RYBAK project are under construction or have been completed in recent years, while the city is adding two additional streets to the area.

RYBAK Development, along with partner IMC Architecture, won the property through an RFP process and is slated to begin construction on what the partnership calls Tilyou Towers in 2027. Along with other changes to the neighborhood, the project also aligns with broader plans by the Adams Administration to find city-owned parcels that can be converted to housing, which the mayor ordered last year. This particular spot in Coney Island is currently a public access parking lot. RYBAK Development is expected to purchase the land and apply for the 485-x tax abatement program. The new building will include a parking lot available to nearby residents.

Residential / commercial complex by RYBAK Development

RYBAK Development’s residential and commercial complex, designed by IMC Architecture, will feature an 11-storey ‘podium’ section and two 28-storey towers. The podium will feature a large rooftop terrace for outdoor tenants on the 11th floor, featuring an infinity pool overlooking the Atlantic Ocean, lounge, play area, playground, pet-friendly facilities and kitchen. The indoor facilities will be located on the fifth floor.
Representation courtesy of IMC Architecture

The push for additional apartments in the area is a combination, says Samantha Ross, the director of Urban Neighborhood Services, a Coney Island-based nonprofit that helps connect residents with jobs and housing. Ross noted that many of the premises his organization serves can pay between $800 and $1,000 in rent. When it comes to large developments nearby, “a lot of low-income people can’t afford to live there,” he says. Affordable units in the RYBAK construction will range from 40% to 100% of the area median income, with an average of 80%, or nearly $91,000 for a one-person household. At the same time, Ross hopes the influx of higher-income tenants will attract more grocery stores, banks and other businesses.

Tenants who have moved into some of the neighborhood’s newer developments have also complained about noise from the adjacent Coney Island amphitheater, so future construction would likely need to do better soundproofing, Ross said. The site will also be undergoing renovations soon: In November, the NYC Economic Development Corp. will issue a request for proposal for a vendor to upgrade and operate the larger complex called the Seaside Park Community Arts Center.

Residential / commercial complex by RYBAK Development

The 505-unit residential/commercial complex by RYBAK Development will feature numerous tenant amenities, including an 11th-floor rooftop terrace that will house an infinity pool overlooking the Atlantic Ocean, lounge, play area, playground, pet-friendly facilities and kitchen. The indoor facilities will be located on the fifth floor.
Representation courtesy of IMC Architecture

Like the new construction nearby, Tilyou Towers sits on land flooded by Hurricane Sandy. Mechanical, electrical and plumbing equipment, along with housing and other “critical infrastructure,” will be located about 13 feet above sea level, or five feet above grade level, says Eugene Mekhtiyev AIA, LEED, Revit, director of IMC Architecture. However, accessible entrances will not meet this threshold and will be protected by movable flood shields. Preliminary plans also call for 8,000 square feet of on-site solar that would offset some of the common utility charges.

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