In September 2003, Mayor Michael Bloomberg, the New York City Council and Brooklyn Borough President Marty Markowitz formed the Coney Island Development Corporation (CIDC).

In 2009, a traveling carnival operated amusement rides on the Astroland site, renaming it Dreamland.

[2] On February 16, 2010, New York City Mayor Michael Bloomberg announced the winning bid to develop and operate an amusement park to be constructed on the 3.16-acre (12,800 m2) former site of Astroland in Coney Island would be awarded to Zamperla/Central Amusement International under a 10-year lease.

These included the old park's centerpiece, "Astrotower", which was not operational; another inherited ride was the landmarked Cyclone roller coaster, which was leased out to Astroland in 1975.

[14] Alessandro Zamperla, president of Luna Park's owner Central Amusement International, stated in mid-2020 that he hoped to have these rides open in 2021.

The logo, from the early days of George C. Tilyou's Steeplechase Park, was created about 100 years ago.

[26][27] Luna Park also operates the Coney Island Cyclone, an official city and national landmark.

[28] Six rides, including some from the former Victorian Gardens Amusement Park, were placed in the area where the Wild River was located for the 2021 season.