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The amusement parks in Coney Island are thriving on a hot summer day. But it may soon be the end of an era.

"We have a real dire situation here," said Lynn Kelly of the Coney Island Development Corporation.

Out of the five acres of amusements, four and a half are owned by one developer, Thor Equities. Its property consists of boarded-up, vacant buildings, closed-up shops, and vacant land. The Coney Island Development Corporation worries the rest of the area will look the same if protections are not in place.

"It lays the groundwork for a developer to come back to a future administration and say, 'amusements doesn't work, give me my giant mall and luxury condos,'" said Kelly. "And if we let that happen, Coney Island is lost forever. That is the absolute death nail in the coffin for this great place."

The non-profit group is pushing the city's rezoning plan, which calls for the preservation of 50 acres of parkland for entertainment and amusements, as well as retail, restaurants, a community center, neighborhood park and infrastructure improvements. The environmental review is underway, but it will take about a full year for any rezoning to happen.

"Without these protections in place, any developer could say to any tenant on their property, 'Time's up. Move on, and vacate the property,'" said Kelly.

That's what may happen to Astroland after this summer season comes to an end. Thor Equities bought the property in 2006 and has been battling with the Bloomberg administration over what should go on the site.

In the meantime, it has allowed Astroland to continue operating – granting a one-year extension at the very end of the season last year. That lease ends in January and the operators have received no word on whether they will be allowed to stay here where they've been operating rides for 46 years.

"It's an enormous undertaking. First we have to sell the rides, and then we have to move them out," said Astroland operator Carol Albert. "That's a minimum of a five or six-month job. So even now, it's late for us to not be making that decision."

Thor Equities issued the following statement in response to the future of Astroland:

"Astroland is signed until January, 2009. In the meantime, Thor remains focused on this season's 'Summer of Hope,' in which Thor has already brought shows to Coney Island, several events, and, continues to provide free admission to Astroland for members of numerous community groups."

But it said nothing of allowing Astroland to remain and its plan for its property, including a piece of land being used as a bus parking lot.