Coney Island's famous carousel goes full circle.

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Fifty horses, two dragonthemed chariots, a 66-key band organ and other components of Coney Island's Bishoff & Brienstein Carousell made the trek last week from Brooklyn to Marion, Ohio where experts from Carousels and Carvings will refurbish them.

The historic, 89-year-old merry-go-round will eventually be given new life, becoming a focal point in the city's Steeplechase Plaza redevelopment project at Coney Island.

The restoration of the B&B Carousell will take more than two years to complete. The city, in August of 2005, purchased the carousel for $1.8 million from the McCullough family, which was going to auction off individual pieces. B&B's multi-colored ponies had been temporarily put out to pasture shortly after, dismantled and waiting in storage at the Brooklyn Army Terminal until now.

"The acquisition of the B & B Carousell two and a half years ago was the first step in the City's efforts to revitalize Coney Island by expanding and improving its amusement core, strengthening its residential base, and most importantly, building on its rich history and character," New York City Economic Development Corporation president Seth W. Pinsky said in a prepared statement last week.

According to the EDC, Coney Island had as many as 25 carousels in the 1920s, but B&B is the only one that remained. The restoration project will cost $2 million and includes the refurbishment of an organ and ticket booth.

Situated between Keyspan Stadium and the famous Coney Island Boardwalk, Steeplechase Plaza will feature a performance space and perhaps a water park, concessions and a pavilion.

The city's Economic Development Corporation earlier this year selected EDAW Inc. and Rockwell Group to design the plaza, for one of many improvements proposed for Coney Island. Parks Commissioner Adrian Benepe has called Steeplechase Plaza a "centerpiece" of Coney Island's rebirth. A design is to be completed around the start of 2009.