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.
Posts tagged with "Nassau Coliseum":
The team behind Brooklyn's Barclays Center—Forest City Ratner and SHoP Architects—will join forces again to overhaul the run-down Nassau Veterans Memorial Coliseum in Uniondale, Long Island. The developer beat out the competition, Madison Square Garden Co, and took home the prize: the commission to manage and rehabilitate the 41-year old crumbling arena that has been home to the Islanders since the hockey team was first founded in 1972. The Islanders will be moving their franchise to the Barclays Center in 2014. The Wall Street Journal reported that Bruce Ratner expects the entire renovation will cost an estimated $229 million, but will require no public funding. The rent from the arena, along with ticket sales and other deals, will generate roughly $195 million over the period of its 34-year lease. Madison Square Garden, however, projected that they would raise $112 million within the same timeframe. The proposal calls for slashing 5,000 seats from the arena and for a new undulating facade designed to emulate the landscape of Long Island, with visual references to the dunes, beach fencing and boardwalks. Ratner also plans to add a new plaza, theaters, restaurants, and bowling alley, and outdoor concert venue to the 77-acre site.