The developers behind the much-anticipated “Nassau Hub” have laid out a time frame to begin the project’s first phase of construction after nearly 20 years of political disputes, project delays, and a series of prolonged lawsuits. According to Newsday, Brett Yormark, CEO of BSE Global, and Scott Rechler, CEO of RXR Realty, announced plans to secure community support, legislative approval, and state funding for their grand residential and commercial district surrounding NYCB Live’s Nassau Coliseum in Hempstead, Long Island in New York State.
The $1.5 billion project aims to transform 72 acres of vacant land into one of Nassau’s busiest and trendiest neighborhoods. Yormack and Rechler hope to fast-track the project through this updated timeline and begin construction at the end of next year. The pair also revealed plans for two new hotels on the property adjacent to the recently renovated, 615-room Long Island Marriott and the existing arena. Once complete, the contemporary village, as the architects dubbed it, will be a place where people can live, work, and explore.
Rechler was involved in two previous failed attempts to redevelop the massive site, but he still believes extensive community outreach will bring his goals to fruition. He and Yormark plan to hold meetings with prominent business owners, civic groups, local mayors, religious institutions, and school districts in order to secure the critical funds and support needed to propel the project in the right direction.
“This process is designed to succeed,” Rechler said in an interview with Newsday. “We are accepting the [Town of Hempstead’s] low-density zoning and are flexible with the community. This is not a ‘take it or leave it’ strategy.”
Like Rechler, Nassau County Executive Laura Curran has urged lawmakers to move quickly to approve the amended proposal, believing that the Hub’s mix of retail, entertainment, and research centers will attract visitors from throughout the region and from all walks of life.
“This is going to be an incredibly transformative project,” Curran told Newsday. “We drive by this property every day and see nothing but empty space. But this development will change this empty district into a place where people can shop, live, work, and go out to dinner.”
The developers say the Nassau Hub will not only socially transform the derelict property surrounding the arena, but it will also have a substantial impact on the economic development of the region. With the addition of parking garages, new medical and research buildings, high-end hotels, and a variety of food and entertainment options, the Nassau Hub is meant to revitalize the county for decades to come.
County lawmakers could potentially vote on these latest plans by December. Yormack and Rechler hope to break ground on construction late next year.