Speaking to the Evening Gazette, Coyne said: "The biggest thing for me was that Colchester had a lot of ambition.
"They were a little bit like Luton being at Kenilworth Road in that they were playing at Layer Road but now they are moving to a new stadium.
"They lost a few players last season but they're still trying to push on and the ambition of the chairman and the manager Geraint Williams came through when I spoke to them.
"Colchester have a fairly new chairman and a young up-and-coming manager, who's making his mark in the game. They also have a fantastic set of lads in the squad and I can't wait to start."