Well, maybe modernizing is the wrong word, as the park's plan is to carefully mix the past with the present and create a better than ever amusement pier as a result. Recently purchased from the Trump organization, the park is now finding itself a part of a $100 million expansion that will take years, but when complete will fully transform Steel Pier forever.
The Catanoso family, under the name of Steel Pier Associates, wants to make the pier a major tourist draw as it was during it's 100+ year history. One thing that is planned to return this Summer is the diving horse performances (to much debate, naturally). Other rides will come in as well, along with infrastructure improvements and plenty of paint.
Steel Pier, currently
But beyond that the park is getting ready for some bigger expansions, the kind we park folk like. Already mentioned for 2013 is a new roller coaster (the park currently has a spinning wild mouse), and a 385 foot, yes you read that correctly, Star Flyer, which would be the tallest in the world by a couple feet.
Later years could see the addition for a 250 foot Ferris wheel, large ballroom for weddings and events, along with a museum and more rides under cover to push toward a year-round operation.
It is an ambitious plan, no doubt. And sadly we've seen many ambitious plans announced, and subsequently fizzle, over the years - but you can be sure if that Star Flyer is built I'll be there opening day!