**RYBAK Development to Lead $350M Coney Island West Project**
RYBAK Development has been selected to spearhead the next phase of the Coney Island West redevelopment, according to an announcement by the New York City Economic Development Corporation (NYCEDC). The $350 million project will transform the city-owned Parcel A into a dynamic mixed-use development, adding more than 500 mixed-income residential units—25% designated as affordable housing—and over 30,000 square feet of ground-floor retail space.
The project, titled Tilyou Towers in honor of George C. Tilyou, founder of the historic Steeplechase Park, is being designed by Brooklyn-based IMC Architecture. In addition to new residential and retail offerings, the project will replace an existing public surface parking area with new structured public parking.
Construction is scheduled to begin in 2027, with project completion targeted for 2030.
“Utilizing public land for housing is a critical way to increase our supply,” said NYCEDC President and CEO Andrew Kimball. “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.”
