Last June, Rainbow Shops, a retail chain featuring discount clothing and shoes, opened on the Stillwell Avenue side of Thor Equities’ “Retail Ride of a Lifetime” Building across the street from Nathan’s Famous. At the end of October, Rainbow closed and was emptied out, but now they’re baa-ack with sun hats and flip flops galore. The Bloomberg administration’s 2009 rezoning of Coney Island’s amusement area allows accessory retail on the block where Shoot Out the Star and other games once amused in the demolished Henderson Building and where they would no longer be able to afford the rent.
Founded in 1935 and headquartered in Brooklyn, Rainbow Shops and sister brands have over 1,000 locations and join a slew of chains and franchises leasing space in the new Coney Island, including It’Sugar, Applebee’s, Johnny Rockets, Burger-Fi and Subway Cafe.
Meanwhile, the dummy “ARCADE” next door to Rainbow Shop remains as vacant as ever. Thor’s retail building continues to flaunt two ARCADE signs but no arcades, despite the fact that 15% of amusement frontage was required by zoning regulations to obtain the Certificate of Occupancy from the City. ATZ wrote about this sham in June 2013 and again in October 2013. We tweeted about it last week.
Apparently having an ARCADE sign is fine with the City’s Department of Planning and Department of Buildings as long as the space is not occupied by say a chain store? Aww, don’t be cynical. The Funny Face, Steeplechase Park’s ubiquitous symbol of merriment, smiles down from the marquee. As the sign atop the building says: “Thor Equities and Brooklyn Welcome You to Coney Island!”
Related posts on ATZ…
March 17, 2014: Will Rides Return to Thor Equities Vacant Lots in Coney Island?
October 17, 2013: The New Coney Island: Thor Equities Vacant Lots, Dummy Arcades
June 18, 2013: Thor’s Coney Island: Shoe Store Invades Amusement Area
December 19, 2012: Will Coney Island’s Surf Ave Become a Mecca for Franchises?