The city is allocating $90 million in subsidies and backing a $116 million construction loan for BFC Partners’ 420-unit affordable housing project at 1709 Surf Avenue in Coney Island. The development will include 11,000 square feet of retail and 9,700 square feet for community use. Originally planned in 2023, financing was secured after a two-year delay. Separately, the city is supporting Settlement Housing Fund’s 178-unit affordable project nearby. Overall, the broader Coney Island initiative aims to deliver 1,100 housing units. Additionally, $42 million is being invested to revamp the local sports center and boardwalk, with more development planned.
1709 Surf Avenue
