CONEY ISLAND - City officials say they hope a new development plan for Coney Island will strike the right balance between being a destination of the future while preserving its past.

The city says it plans to pour $200 million to fund capital improvements on the site. There is expected to be 27 acres of new amusements when the new project is complete.

The plan for the site that once housed Astroland is to preserve historic rides while making Coney Island a year-round amusement destination.

The city has also proposed 4,500 housing units, 500,000-square feet of retail space and 950 hotel rooms for the development.