The developers of a $1.6 billion proposal to rebuild the Nassau Coliseum and turn the sea of parking that surrounds it into a ''town square'' -- a bustling destination spot that currently doesn't exist on Long Island -- signed an agreement on June 29 with Thomas R. Suozzi, the Nassau County executive.
But the project may face its biggest hurdle yet as it goes before the Town of
The plan, proposed by Charles B. Wang, owner of the Islanders, and Reckson Associates, a local real estate development firm, would renovate the aging sports and concert arena and include thousands of new apartments and a canal lined with retail shops and office space.
The agreement with the county allows the developers to seek zoning approval for their plan and requires the developers to make $1.5 million in annual payments and pay for the county's legal and consultant costs for the coliseum's redevelopment. Once plans have been approved, the county will sign a lease for the property with the developers.
The 77-acre parcel is one of the largest undeveloped pieces of public property left in
Once a formal application is filed, the town will most likely develop a master plan for the site that would create a new development zone for it, as happened with the site of the former Roosevelt Raceway.
But if the Roosevelt Raceway development is an indication, it may be awhile before the coliseum proposal becomes reality. The approval process for the raceway took about two years, and even though the town signed off on a master plan that allowed a mix of commercial and residential construction for the site in the early 1990's, construction is still not complete.
Town and county officials familiar with the coliseum proposal said that town officials would like to see the property developed but have concerns about the project's density. Indeed, many homeowners and business owners near the coliseum have raised questions about the project's potential effect on schools, traffic and groundwater.
The Plaza Theater on Main Street in East Patchogue showed its last feature film in the mid-1980's and over the last two decades has become an eyesore that neighbors and local officials say has hindered efforts to revitalize the struggling downtown.
So
Jack Eddington, the county legislator who sponsored the condemnation bill, said, ''This theater has been a symbol of decay in the town, and it's the right place to show deadbeat landlords that we're not going to accept this anymore.''
Mr. Eddington said he generally frowned on the use of eminent domain, ''but this is a clear case where it would work for the betterment of the community.'' He said that over the years, local business owners had tried unsuccessfully to buy the property and that local officials had tried to get the owner, Edmondo Schwartz, to repair the building, but he has not cooperated. Mr. Schwartz has a real estate business based in
Evan Abazis, owner of the Mediterranean Manor, a catering hall down the street from the Plaza, said the theater had become a blight on the community. ''It has made it very difficult to maintain business here,'' Mr. Abazis said, adding that he hoped the downtown would be revitalized. ''The charm and history of this area is here, it just needs to be restored.''
Cellphone Recycling Law Is Under Review in
Vivian Viloria-Fisher, a county legislator from Setauket, proposed the law last month after learning that minerals used in cellphones, like nickel-cadmium and lithium, can harm the environment. ''There's so much material in cellphones that we don't want to reintroduce into the environment, and we should reuse as much as possible,'' she said.
New York Islanders owner Charles Wang teamed up with Reckson Associates Realty Corp. yesterday to redevelop the area around the Nassau Coliseum, adding muscle to a project that remains stalled before the county legislature.
Wang, co-founder of Islandia-based Computer Associates International, and Reckson chief executive Scott Rechler said they will split the at least $1 billion cost "50-50" to jointly develop residential, commercial and retail facilities.
The announcement of Wang's partnership with Reckson, the Melville-based real estate investment trust with holdings throughout the
At Reckson's Omni building in Uniondale, Wang praised Rechler as a "titan" among real estate developers, with 1 million square feet of office space in the
"This is public land and the project that is developed there must provide the most benefit to the public," Rechler said. "We believe that Charles' proposal achieves this objective."
Suozzi, who is seeking re-election Nov. 8, said Rechler is "obviously a serious developer and a serious player on
Lawmakers and a competing developer offered mixed reactions. "If the developer can't talk Wang out of a 60-story building, then it's not a viable plan," said Gregory Peterson, the Republican candidate for county executive against Suozzi.
"This doesn't help him get the approval," said Minority Leader Peter Schmitt. "It doesn'tchange the fact that the process Suozzi went through is fatally flawed."
Presiding Officer Judy Jacobs of Woodbury called the joint venture "a smart move."
Last Wednesday, Suozzi called on other developers to meet with him. But only Vincent Polimeni, chairman and chief executive of The Polimeni Organization, attended. His firm, of Garden City, intends to submit a development proposal. "I'm still in the game," he said.
Wang's project also would require zoning approval by
But Rechler, who has contributed to Republicans, called D'Amato "an adviser." D'Amato didn't return calls for comment. "I haven't spoken with him, but I hope when I do he will see the light of Charles' plan," Rechler said.
Reckson's holdings
Charles Wang, who wants to build a development around the Nassau Coliseum that includes a 600-foot tower, above right, has partnered with developer Reckson Associates. Reckson owns several properties in the area.
The plan, dubbed the Lighthouse project, is backed by two of
The construction would take place on about 150 acres owned by
The Nassau county executive, Thomas R. Suozzi, who has made development of the area one of the major goals of his administration, has described the project as critical to maintaining the vitality of Long Island by attracting new business, new homeowners and, not least of all, new tax revenues.
Matthew Frank, managing director of the Lighthouse Development Group, the company formed by Mr. Wang and Mr. Rechler, said the hope was that the new site would become a destination for people throughout the region.
Community groups and merchants in the area around the coliseum have expressed concern that the Lighthouse project would create congestion and crush local businesses.
“Obviously, there are going to be very extensive investigations on traffic, air, water, density and quality-of-life impact,” said Kate Murray, the town supervisor. “From the models I’ve seen, it looks extremely dense. Traffic will be a major issue.”
The county land at the site was originally part of Mitchel Air Force Base, and after the base closed, the federal government turned over the property to
When the Lighthouse Development Group embarked upon an ambitious plan to redevelop a 77-acre site in
As winning public approval is central to the success of the project, it was acknowledged by the developer that effective transportation planning must be in place at all levels to address any residents’ concern that the development might result in negative impact. This Eschbacher VHB designed transportation infrastructure will support a $1.5 billion project that includes residential units, hotel space, a sports center, a convention center, retail space, and public recreational space.
Challenges in this project include the plan to unify the need to develop extensive off-site roadway network linkages. Additionally, developers aim to coordinate the project with a planned light rail system which will connect to the nearby colleges, office complexes, and regional shopping malls.
Two friends of 3DWalkthroughs.com have announced that they will be working together on the Nassau Coliseum Redevelopment Project (The Lighthouse Project). RexCorp Realty (Scott Rechler) officially hired the Spector Group (Marc Spector) as one of two master planning/architect firms that will be spearheading the project.
The mixed use development project will include: an 18,000-seat arena for sporting events and concerts, housing, office space, retail stores, a hotel and a complete restoration and renovation of the Nassau Coliseum.
3DWalkthroughs.com will be closely following the progress of the Lighthouse Project as it is one of the largest and most ambitious development projects to ever happen in
Below is a blurb from Sunday’s NY Times describing the partnership.
NYTIMES
In the Region
Long Island, Westchester, Connecticut and New Jersey
Go to Complete Coverage » The Nassau Coliseum redevelopment plan advanced another step when the project’s partners chose a master planning team of two architecture and planning firms, the Development Design Group of Baltimore and the Spector Group of North Hills.
The two companies will design a $2 billion suburban center on 77 acres of county-owned property. It is scheduled to include an 18,000-seat arena for sporting events and concerts as well as housing, office space, retail stores, a hotel and a complete restoration and renovation of the Nassau Coliseum. The project’s partners — Lighthouse Development Group, a joint venture between Charles B. Wang, owner of the New York Islanders and founder of Computer Associates, and Scott H. Rechler, chairman of RexCorp Realty — announced the hiring of the planning team on July 20.
The Development Design Group is known for malls and mixed-use developments throughout the country. The Spector Group’s projects include
Mr. Rechler, Long Island’s largest developer of commercial real estate, said, “We were looking for a team who would want to stick with the character of Long Island, but at the same time provide Long Island with what it doesn’t have.”
The Lighthouse Project is expected to create 16,000 construction jobs, as well as thousands of permanent jobs and many new businesses, and to generate almost $60 million of annual real estate tax revenue, Mr. Rechler said.
Nassau
By Joe Esposito
Nassau News Staff Writer
Nassau Veteran’s Memorial Coliseum and the 77-acre piece of land it sits on is about to revamp Hempstead and Uniondale’s future image, as well as
New York Islander owner Charles B. Wang has proposed turning Nassau Coliseum and the 77-acre lot it sits on into a “modern 24/7 suburban center,” according to Real Estate Weekly
According to Newsday, Thomas R. Suozzi, the
The developer’s main focus is on the Coliseum itself.
The plans are to construct essentially a whole new Nassau Coliseum on a $300 million budget that will add luxury box suites as close to the action as any in hockey and, according to Sterling Equities’ proposal, create a “163-percent increase in box seats in general.” In the end there will be “1,000 luxury seats” available, compared to the current 380.
Besides changing the luxury view for Islander fans, the arena shape will change as well. The ice is going to be lowered five feet, which will make room for the new luxury box suites.
Detailed plan to transform 77-acre site from aging and obsolete
complex into state of the art suburban center, on schedule to be
presented in the Fall.
Lighthouse Development Group, LLC, a joint venture between
commercial real estate, RexCorp Realty, LLC and Charles Wang,
owner of the New York Islanders and New York Dragons, has
announced that they have selected the architecture and planning
firms Development Design Group Inc. (“DDG”) and The Spector
Group to assist in refining the master plan of its multi-billion dollar
redevelopment of the Nassau Veterans Memorial Coliseum site.
This will enable the Lighthouse Development Group to continue
development of its comprehensive plan which it intends to present
to the community, government and business leaders in the fall.
“I am very excited about our vision and plan to transform this 77-
acre site from an aging and obsolete complex into a vibrant, state
of the art suburban center, blending housing, office space, and
retail stores, with sports, entertainment and tourism. This is a
necessary investment in
children and generations to come,” said Charles Wang.
“By gaining additional input from the community and adding the
creativity and experience of DDG and The Spector Group, we will
soon be presenting what will be the pillar of smart growth and a
model for suburban redevelopment.”
“The selection of DDG and the Spector Group gives the
Lighthouse Project access to world-class talent and execution with
a regional perspective,” stated Scott Rechler, RexCorp’s Chief
Executive Officer.
“Successful suburban centers have been created in many similar
regions around the country and as we plan for one on
we felt it was absolutely necessary to select firms with proven
track recordsDDG is an internationally renowned planning, architecture and
design firm that has delivered dynamic and extraordinary solutions
and provided superior expertise in many successful mixed use
projects across the country, notably the
Square in
sensitivity to the surrounding community is reinforced time and
again with numerous awards for their work, including more than
75 national and international design awards over the past decade
including prestigious awards from the International Real Estate
Federation, the Urban Land Institute and the
Conference.
The Spector Group,
architecture firm, will provide local insight to the Lighthouse
development team and advise as to the character of the master plan
to insure the project remains true to
rich tradition of designing some of
recognizable projects, including
World Headquarters and the Downtown Riverhead Redevelopment
Project.
Mr. Rechler further stated, “After a thorough RFP process, DDG
and Spector were selected to help us complete the project. Also,
there are many planning, design, and economic study groups
already hard at work that will enable us to take the proper
regulatory steps in this very deliberative process. We will take the
time needed to achieve the highest level of coordination with our
neighbors, the Town of
The proposal still needs the approval of a spectrum of town and county review boards, a process Suozzi conceded could take up to two years.
Suozzi, who is running for the Democratic nomination for governor, had selected Wang to redevelop the coliseum property more than a year ago. But when county legislators and others balked, he was forced to open the project to competitive bidding. Four groups, including one headed by Mets owner Fred Wilpon, made pitches to develop the property before Wang's group was selected.
Suozzi acknowledged that part of the equation in naming Wang's group was his ownership of the Islanders. Wang, who did not immediately return a call for comment, had held preliminary discussions with officials in neighboring
"There was always, I think, a general understanding of anybody who looks at this reasonably that if we didn't do something we'd lose the Islanders," Suozzi said. "This deal now ... is even better. We have certainty that we have the Islanders until 2025."
The new coliseum will have a capacity of about 17,000 and feature luxury skyboxes and other amenities now standard in modern sports arenas. The current facility, which has been plagued by water pipe leaks and other maintenance headaches, has a capacity of 16,300. About the Lighthouse Development Group, LLC.
Lighthouse Development Group, LLC, a joint venture between Charles Wang, the Founder of the Lighthouse project and owner of the New York Islanders and New York Dragons, and RexCorp Realty, LLC., Long Island’s largest owner, manager and developer of commercial real estate, has been designated the exclusive developer of the Coliseum site and has entered into a Development Plan Agreement with the County of Nassau. The partnership combines Charles Wang’s vision for the revitalization of the aging Coliseum property with RexCorp’s renowned expertise. The Lighthouse project is the transformation of the Nassau Veterans Memorial Coliseum site and surrounding area into a modern 24/7 suburban center. The centerpiece will be a revitalized arena for the New York Islanders and New York Dragons, surrounded by exciting residential neighborhoods, lifestyle retail and entertainment venues, a sports technology center, multi-purpose athletic complex, state-of-the-art conference and exhibition facilities, a baseball stadium, and the first 5-star hotel on Long Island. The estimated $2 billion project is expected to generate almost $60 million of annual real estate tax revenue. An expected 16,000 construction jobs, thousands of permanent jobs and many new businesses will be created. Overall, the Lighthouse project will add more than $200 million of incremental revenue over the next 25 years to the County and the State from the renovation of the Coliseum alone and keep the New York Islanders on
1. The Lighthouse project will transform the 150-acres at the Nassau Veterans Memorial Coliseum site and the surrounding area into
2. The Lighthouse is approximately 5.5 million square feet of new mixed-use development and will be designed and developed to be
3. The Coliseum will be transformed into a state-of-the-art arena providing a premier entertainment experience. With additional and expanded concourses, all new restrooms, VIP suites, larger seats, and first class concessions and restaurants, the arena will comfortably accommodate 17,500 for hockey, 18,500 for basketball and 20,000 fans for concerts.
4. The Sports Complex will be the region’s preferred sports and entertainment facility. It will house four sheets of ice for local teams and clubs, as well as be capable of hosting regional and national events. The facility will also include basketball courts and a state-of-the-art health club.
5. The Lighthouse’s central landscaped park,
6. The project’s 2,300 residences will include next generation, luxury, active adult and multi-family housing types. There will be a mix of lofts, condominiums, and town houses set amidst quiet neighborhoods or above vibrant retail streetscapes. 7.
The current Coliseum is one of the oldest sports arenas in the Country and it looks it. Instead of tearing it down and building a new one, we will give this ancient arena a complete and drastic makeover into a state-of-the-art multi use Arena. With a completely new exterior architecture, The Coliseum will look like a brand new building. and will save hundreds of millions of dollars and years of construction.
The inside will be completely re-done as well. We'll drop the ice 5 feet, maintain the excellent sight lines and give us room to add an entire ring of suites - the closest to the ice in the entire NHL. Seating occupancy will be 17,500 for hockey, 18,500 for basketball and 20,000 for concerts and family shows.
The Arena Bowl will be totally redesigned with all new seating, sound system, video boards, restaurants, bars, suites and club seating.
All new customer services include dramatic entrances and wide concourses, super selection food courts, larger and more washrooms, retail, ancillary entertainment, family play area, business center, function rooms and bright contemporary interiors. Redesigned service areas and new technologies will allow more events with greater variety.
Suozzi Taps Wang-Reckson as
$1.6 Billion Nassau Coliseum ‘New Suburbia’ Developer Proposal Includes Renovated Coliseum, Extension of Islanders’ Lease, Minor League Baseball Stadium,
Next-Generation Housing, and Transit Improvements Mineola, NY- Nassau County Executive Thomas R. Suozzi today announced that the proposal from the Lighthouse Development Group meets each of his seven core goals for the redevelopment of the Nassau Veterans Memorial Coliseum Site, and lays out a plan that is consistent with his vision for “New Suburbia.
Among the highlights of the Lighthouse Development Group’s $1.6 billion proposal are: a $200 million renovation of the Nassau Coliseum; a commitment from the Islanders NHL team to stay until 2025; a canal lined with retail shops and mixed-use residential-commercial development; the creation of a pedestrian-friendly ‘Nassau Centre;’ an investment in a transportation system; the construction of a minor-league baseball stadium and the development of next generation housing.
“After a thorough, competitive and open review process, my evaluation team has chosen the Lighthouse Group’s proposal,” Suozzi said. “Their plan stood up against top-notch competition, and emerged as the best of the best. It matches the vision I’ve been talking about for ‘New Suburbia.’ We can look forward to a new minor-league ballpark, a renovated Coliseum, new housing and office space that will create excitement at the geographic heart of
About $200 million is earmarked for a dramatic overhaul of the Coliseum, including two new buildings to be incorporated into the Coliseum’s existing structure. The new buildings will house a basketball court, additional ice rinks, a fitness center, new locker rooms and other sports facilities. The Coliseum will also have expanded seating capacity with an additional 2,500 seats, including ice-level luxury boxes.
- Minor League Baseball Stadium
The group also proposes to build – at no cost to the county – a new minor-league baseball stadium at the nearby Mitchel Field Athletic Complex, and to bring a minor league baseball team affiliated with the Atlantic League to the county. The proposed stadium will be subject to its own request-for-proposal and approval process.
- Construction of structured parking adjacent to the Coliseum to free up land – currently used as parking lots – for other development.
Some $120 million will go toward the construction of Coliseum parking decks.
- Extending the Islanders lease beyond its 2015 expiration, or making a deal with a comparable sports franchise.
The Lighthouse Group will extend the Islanders’ commitment to play professional hockey in
- Creating a mixed-use commercial-residential development.
Townhouses, apartment buildings and office buildings will be constructed around a picturesque canal, to create a pedestrian-friendly suburban center.
- Creating next-generation housing.
The Lighthouse Group will commit 20% of any new residential units to next-generation housing.
- Expanding the tax base for
New retail businesses and office space, as well as new residential units, will significantly expand the county’s tax base, kick starting new growth that
- Creating a public transportation system to connect the Coliseum site with the greater area known as the Nassau County Hub.
The Lighthouse Group has committed to spend $55 million on transportation improvements in the ‘Nassau Centre’ area, including $25 million toward transforming the Centre into a pedestrian-oriented suburban center. The group will also fund a bus-trolley system serving the Coliseum and its immediate surroundings, as well as bus service to connect with the LIRR.
The county’s request-for-proposals sought plans for the 77-acre Coliseum site, but the Lighthouse Group’s proposal includes plans for surrounding properties as well, resulting in a 150-acre vision. The Lighthouse Group owns properties adjacent to the 77-acre site, including the Marriott Hotel,
“This proposal makes the best possible use of the Coliseum site,” Suozzi said. “As the nation’s oldest suburb, the county really has no room left to grow. It is vital that we come up with new, creative ways to increase our tax base. This plan does that, while making the Coliseum site and the Nassau Centre an exciting place to live, work and play.”
County officials now will work to reach a Memorandum of Agreement (MOA) with the Lighthouse Group that would set out the major terms of the deal and establish a period for lease negotiations. Once a MOA is reached, it will be submitted for approval to the Nassau County Legislature. The plan also will need approval from the Town of
The county is hopeful that construction could begin at the site within two years. Reference is made to our memorandum of March 9, 2006, as revised, and the attendant
exhibits to same which we formally presented to you and your committee at our meeting last
week. As we detailed in our presentation, Lighthouse Development Group, LLC (“Lighthouse”)
has fully addressed the issues raised as a result of the feedback you received from the Request
for Proposal (“RFP”) process. Moreover, Lighthouse has significantly enhanced the project bothconceptually, with features such as minor league baseball, the Lighthouse Hub Trolley Systemand the Long Island Sports Hall of Fame, and financially, by committing to making additionalfinancial contributions in excess of $60 million. We have brought certainty to critical issuessuch as a clear commitment to Work Force/Next Generation Housing and have developed acomprehensive plan and strategy to immediately bring public transportation to the Hub,including provision for and allocation of $25 million to construct the infrastructure which willbring rapid public transportation to the very center of the Lighthouse project.
While we thank you for your praise of the completeness of our overall proposal and thelevel to which we have elevated this exciting project, we understand that you have a fewremaining issues to which you would like us to give further consideration. These issues are
addressed below. Additionally we have revised the March 9 th Memorandum to incorporate the
resolution of these additional issues so that you can have one document to refer to.
1. Islanders’ Commitment: You have inquired as to the potential to further extend
the Islanders’ lease for an additional 10 years beyond the 10 years which has already been
committed to.
The RFP process brought forth three proposals in addition to the Lighthouse proposal.
Two of the proposals offered alternatives which did not involve the Coliseum as part of the
project. The RFP process has now been narrowed down by your committee to two proposals.
Both proposals which you have selected incorporate the Coliseum as a featured element of the
concept plan. Only one proposal, the Lighthouse proposal, has guaranteed that a transformed
stateoftheart
Coliseum will have a primary tenant, the New York Islanders. Lighthouse makesthe additional commitment to extend the term of the Islanders’ lease to 2025.
The Coliseum is obviously an integral part of the development concept for this site. Untilnow, the primary source of the benefit of the Coliseum has been the Islanders. That is becausethe Coliseum does not currently form part of a more comprehensive development. OnceLighthouse reshapes the Coliseum site and the surrounding properties, into a truly pedestrianoriented, modern suburban destination center where Long Islanders will live, work and play, theopportunities presented are boundless. Through the Lighthouse proposal, the Islanders havemade a commitment, as the “anchor tenant,” to call the Coliseum their home for the next,approximately, 20 years. This commitment has already attracted an additional user to the area,
minor league baseball, and, the project is only at the concept stage. There is no telling what the
future holds for this site as a magnet for additional new and exciting sports teams, businesses and
entertainment enterprises.
The Islanders will be here for the long term, the County merely needs to select the
Lighthouse proposal to make that a certainty. Accordingly, Lighthouse agrees that without the
consent of the County, which shall not be unreasonably withheld, the principal use of the
Coliseum shall be limited to Sports and Entertainment uses.
2. Next Generation Housing/Work Force Housing: You have requested that we
provide a clear commitment to Work Force/Next Generation Housing. The County has made clear the importance of Next Generation/Work Force Housingrelating to the Project. We are prepared to provide 20% of our residential units as NextGeneration/Work Force Housing on the Coliseum property.
3. Development Metrics: The County has expressed a desire to play a more activerole in the ultimate development of Coliseum.
We have proposed and will create a Development Committee which will meet regularlyand advise Lighthouse. The
we propose that the elements embodied in a development metrics, provided below, will be varied
only with the consent of the County. The elements of the development metrics are as follows:
a. Renovation to the Coliseum – a complete transformation of the Coliseum
into a stateofthe
art facility;
b. Commitment to provide structured parking to serve the Coliseum;
c. Minimum of 20% of the Residential Units to be Work Force/Next
Generation units, provided that if approvals are not obtained from the Town of
housing, the consent of the County shall be required.
4. Minor League Baseball Lighthouse
is committed to minor league baseball and
Reckson has entered into a Memorandum of Understanding with the Atlantic League ofProfessional Baseball Clubs (“ALPBC”) to bring a minor league team to the Hub. Lighthousewill work with the ALPBC to cause a new minor league stadium to be constructed at MAC Parkwhich is adjacent the Omni property owned by Reckson and is in walking distance to the
Coliseum Property and Museum Row. In order to preserve open/green space on the ColiseumProperty, shared parking will be provided adjacent to the
5. Additional Financial Commitment during the Approval Period: You have
requested that we consider a financial commitment which would be made during the approvals
period.
Lighthouse has already invested millions of dollars as evidence of its financial
commitment to the project. In addition, Lighthouse agrees that commencing upon the execution
of the lease with
$1.5 million annually. The Approvals Period Payments will be applied against Rent due on and
after the Rent Commencement Date. In the event that Lighthouse does not obtain the requisite
approvals for the project and elects to terminate in accordance with its proposal, the Approvals
Period Payments will be forfeited by Lighthouse.
6. Rent and Revenue Sharing: You have requested rent escalations and revenue
sharing beyond those which are provided in the Lighthouse proposal. Specifically, you have
requested a revaluation of the rent at a future date. You have also requested an additional
mechanism for the County to share in the revenue of the project beyond that which is contained
in our proposal.As previously indicated, the Lighthouse proposal incorporates fixed escalations into theproposed lease with the County. As also indicated in our previous responses and as guaranteedby the Development Metrics outlined above, Lighthouse is paying millions of dollars up front, asa condition to entering into the lease with the County. In response to your request for additionalfinancial commitment during the development approvals process, Lighthouse has now agreed tomake Approval Payments commencing upon execution of the lease with the County.Lighthouse will be risking billions of dollars, years of experience and countless hours oftime, in an effort to bring this project to fruition. We believe that a resetting of the rent or anyrevaluation of the property at any point during the lease term and/or any additional revenuesharing arrangement would make the project economically unviable. THE
BACKGROUND
On December 1 st , 2005 , the Nassau Council of Chambers of Commerce and Vision Long Island co-sponsored a meeting of the Nassau Business and Community Planning Coalition. The event centered on the proposals submitted by four prominent developers in response to
Broadly, the purpose of the gathering was to open up the previously closed-door negotiations between Nassau County Executive Tom Suozzi and Charles Wang, reinforcing the mandate that proper process be considered whenever the County is faced with any and all land-use decisions. Therefore, the multitude of Village and small-business leaders whom were not present at the Suozzi-Wang meetings were invited to view each group's proposal presentations first-hand, and were also afforded opportunity to ask questions and provide input.
The Coliseum parcel is especially important because although it is County land and is officially in Uniondale, the traffic, economic, and environmental impacts of the redevelopment will affect the neighboring Villages and Towns, including Hempstead,
After introductions by NCCC President Richard Bivone and Eric Alexander, Executive Director of Vision Long Island, each developer presented their unique plans for the future of what many consider to be
PRESENTATIONS
Coliseum Redevelopment Corporation (Sterling Equities/Blumenfeld/NY Mets)
This conglomerate pairs the development knowledge of Blumenfeld with the sports-management experience of the NY Mets and Sterling Equities, the owners of the Mets and the Cyclones. Their plan features a 100,000 SF convention center, replacing the Coliseum's subterranean and sub-standard convention space, and a hotel, augmenting the current Long Island Marriot with 200 additional rooms. In addition, they propose to build a minor league baseball stadium along the lines of the Brooklyn Cyclone's
Like the Wang proposal, CRC's focus is on the expansion of sports operations on the Coliseum site, increasing the seating and retail capacity of the coliseum and providing additional parking spaces totaling 12,300 spots. Presenter David Blumenfeld stressed that their plan does not hinge on the Islanders, and that if they choose to leave their current home, there are many other options for the renovated Coliseum. There is lesser emphasis on housing, represented by two three-decked housing complexes that resemble the adjacent parking garage.
Moreover, in the County's RFP, they solicit the incorporation of the Hub MIS into each proposal. This is the only plan that adequately addresses the integration of mass transit into the site, the purpose of which is to reduce the amount of cars and congestion generated by the renewed Coliseum. Blumenfeld cited either a light rail between the LIRR's Hempstead Station, or a more aggressive monorail system from neighboring
What's Included: 1 million sq. ft. retail, 700,000 sq. ft. “lifestyle residential” with 20% housing designated “workforce” ($90,000 cap as defined in RFP), 500,000 sq. ft. office. The Bottom Line: $1.4 billion, including $300 million for coliseum renovation and $100 million for 10,000 additional parking spaces.
Lighthouse Development Group LLC (Charles Wang/Reckson Associates)
The second presentation was made by Charles Wang himself, accompanied by Michael Picker of Lighthouse Development Group. Lighthouse began with a video of sweeping camera shots, detailing the aesthetic features, exciting retail prospects, and the “town square” concept embodied by a large green circled with shops and offices, and anchored by the 60-story “Lighthouse” of hotel and condo space. Large apartment towers with ground floor retail run parallel to a canal spanned by pedestrian bridges. The viewers were also offered a sports technology center, promised to become the “
The Lighthouse itself was brushed over by the video and by Wang in the spoken portion of the presentation. Instead, he made broad statements emphasizing the importance of the establishment of industry on the island to keep and attract
Wang reinforced his commitment to the Islanders, providing them a completely renovated Coliseum, replete with 80+ luxury boxes and state-of-the-art infrastructure. Special mention was given to his partner, Reckson Associates, which owns a number of properties ringing the site including
While offering a laudable level of density, the Lighthouse plan did not assimilate a mass transit network, creating the specter of almost untenable car congestion for many audience members.
What's Included: 3.5 million sq. ft. residential, 1 million sq. ft. office, 500,000 sq. ft. office, 500,000 sq. ft. hotel/convention.
The Bottom Line: $1 billion, including $150 million to increase Coliseum to 17,500 hockey seats and 20,000 concert seats.
Polimeni International LLC – The Cordish Company
The third proposal marked a different approach to the Coliseum than the previous two, offering a new County seat. Vincent Polimeni outlined his consortium's plan, illustrating their proposal to consolidate the County's fragmented office system into a new 600,000 square-foot building complex. In exchange for the new buildings, Polimeni's group would receive the County's 77 acres of Coliseum land, subsequently putting it back on the tax rolls with Class A office space. Beyond the office space, Polimeni designed in three buildings for apartments or condos.
While a representative of the Cordish Company was not present, their role in the project should not be underestimated. They are the people responsible for the public-private redevelopment venture of
What's Included: 650,000 sq. ft. residential, 1.2 million sq. ft. County Seat, 1.7 million sq. ft. office, 130,000 sq. ft. retail. The Bottom Line: $725 million, including $150 million for coliseum renovations and an entertainment venue, and $75 million for a new county seat.
Engel Burman – Kabro Associates
The final presentation was by long-time
Perhaps the least dense or retail-based of the three, it is understandable considering that Engel Burman's primary expertise is in residential developments. The residential component features four 15-story towers, two artificial lakes, and parking for 1,500 cars. Their portfolio includes The Bristol Assisted Living in Westbury and The Meadows, a condo complex in
What's Included: Plan A – 960,000 sq. ft. residential (four towers), 2 million sq. ft. office, 100,000 retail; Plan B – 960,000 sq. ft. residential.
The Bottom Line: $800 million, with promised rent returns of 2.5 – 5 million.
Visit http://www.co.nassau.ny.us/coliseum/index.html for a full listing of presentations and statistics.
QUESTIONS FOR CONSIDERATION
After the four developers concluded their presentations, the meeting launched into a productive and exciting Q&A session moderated by Mr. Bivone and Mr. Alexander. The audience's questions seemed to center on three main topics: transportation and traffic, housing (specifically affordable housing) and environmental impacts. While all the issues are absolutely essential to the current discussion surrounding the Coliseum, Bivone and Alexander made point that these plans are in their early stages of development, and each plan is still pending environmental and traffic studies.
Participants stressed an open mind when addressing land-use and transportation issues, as well as housing and environmental concerns.
Transit
- How does the project impact traffic? Can there be an integration of mass transit?
- Unless there is a massive paradigm shift (re: transit) might this not be built at all?
- Is the county willing to invest in mass transit?
- Should Mineola or
- Do the proposals address
- What are the bottom line percentages of affordable housing included in each developer's proposal?
- How does the Nassau HUB study fit into each proposal? Can we incorporate more transit? Maybe a monorail?
- What is the aquifer/environmental impact of this project? Environment
- Is anyone planning on incorporating clean energy or green building?
- Can the current sewer infrastructure support such high density? Miscellaneous Are the projects about
• How does each project augment
• Who will construct the project? Union workers? Minimum wage workers?
• Can this become a cultural and entertainment destination?
• Can we draw people from beyond the island?
• Can these projects “do it all?” SHOULD they do it all? [1] The County issued a Request for Proposals (RFP) for the site, with goals that included renovating the Coliseum as a "state of the art facility;" redevelopment consistent with the County's Master Plan for the area; keeping the Islanders, or attracting a comparable sports franchise; incorporating mass transit; and ensuring at least 15% of all housing develped at the site be "next generation" or "workforce" housing (affordable for a family earning $90,000/year or less).
“
What is this all about? It’s about Charles Wang, the billionaire developer and hockey team co-owner, who hasn’t gotten over his tower fixation. He and a partner filed a proposal last week with the Town of
About the only thing it would not have is a lighthouse. There had been one in Mr. Wang’s original proposal, unveiled in 2004. It was to be 60 stories tall, with a beacon and an observation deck, but it was razzed to death and abandoned. Mr. Wang has kept only the project’s name and overall immensity, and is bracing for a long slog with the governmental bodies in Hempstead and
Having been burned before in trying to get Long Islanders to see things his way — there is a deep aversion to gargantuan things that reshape the suburban landscape, unless they are called Home Depot or Bed, Bath & Beyond — Mr. Wang is now straddling the line between boldness and timidity. Go to www.lighthouseli.com, pore over the glossy images and watch the video, and you may be forgiven for thinking that Mr. Wang is proposing the mildest, most inoffensive 5.5 million-square-foot development imaginable.
The Lighthouse on
(It is also strangely, overwhelmingly white. There are a few African-Americans in the slide shows, but don’t blink or you will miss them. You will find a couple of black athletes being fixed up in the “
The emphasis is on the Islanders, of course, along with luxury shopping, luxury hotels and luxury condominiums, on fancy weddings and banquets, with offices and housing discreetly tucked in here and there. The project is to be completed in phases, with the most important parts — the new Coliseum, convention center, hotel rooms and condos — going up first, and the apartments coming later.
We recognize that conceptual drawings on a Web site are a far cry from a finished product. But it is not premature or unfair to point out that a lot of the things
Shouldn’t the school-tax windfall from the project be shared among neighboring communities, as the county assessor has proposed, rather than being dumped lavishly on
There is time for a discussion about these concerns, and we look to Mr. Suozzi to lead it. The Lighthouse could anchor and fulfill his dream of “New Suburbia.” But so far, the most important ingredients of that vision look like afterthoughts.
Developers pitch Nassau
By Harrell, Jeremy
Publication: Long Island Business News
Date: Friday, November 11 2005
Subject: Stadiums
Charles Wang got a better look at his competition on Thursday night. The software billionaire, who's teamed with Reckson Associates on a $1.5 billion proposal to rebuild the Nassau Coliseum and surrounding 77 acres of county land, joined three other teams trying to convince county officials of the best way to rebuild the land.
Wang, who owns the New York Islanders hockey team, and Reckson
chief Scott Rechler expanded on their previously disclosed plan, suggesting, for instance, that they would sink Hempstead Turnpike and
Under questioning from county officials, who will eventually forward their recommendation to the
Meanwhile, one team said it didn't need the coliseum at all. Jan Burman, whose Engel Burman Group joined with Kabro Associates on a proposal centered on retail and residential property, said the coliseum isn't the best and highest use of the county land. In the last year, the Islanders didn't play, and
New York Islanders owner Charles Wang unveiled his vision for a $200-million "transformation" of the aging Nassau Coliseum yesterday, including additional seating, an athletic complex adjacent to the facility and future plans for a 60-story hotel-condo tower.
"What we are doing here is great for Long Island, great for
The first phase of the project would lower the Coliseum's floor to add the additional seats, including 50 new luxury boxes at Row 15, which Picker said would provide the closest view for luxury-type seating of any facility in the country. The athletic complex would include an ice rink, basketball, volleyball and a health club. The plan calls for construction to begin in 2006 and be completed in 2009. Most of the heavy work would be done during the summer from June to October when hockey season starts. The Coliseum would be closed during that time.
Financial details of the proposal, however, were sketchy. Picker said the overhaul of the Coliseum and construction of the athletic complex would be done with help from state, the county and Wang. He would not release further details.
Nassau County Executive Thomas Suozzi would not comment on the proposal and Islanders spokesman Chris Botta wouldn't comment on the financing. "The deal isn't done," he said.
By lowering the Coliseum floor, Picker said the facility would increase its seating from 16,300 to 17,500 for hockey games, could seat 18,500 for basketball games and 20,000 for concerts. The facility would keep 31 luxury boxes at the top of the Coliseum, Picker said.
Calling it "The Coliseum At The Lighthouse," Picker said Wang's vision for the area also includes a second phase, which would develop the 70 acres surrounding the Coliseum. However, who will develop that area, how it will be financed, and whether zoning and environmental issues can be addressed remain uncertain.
Plans for Phase 2 include "The Great Lighthouse," a 60-story building with a 10,000-square-foot observatory deck with a hundred miles of unobstructed view. The building is modeled on the ancient "Great Lighthouse" of
Beneath the deck would be the Grand Hotel at the Lighthouse, a five-star, 500-room hotel with four restaurants, ballrooms and sky terraces. The lobby of the hotel will be on the 40th floor and every room, officials said, will have "incredible views."
Beneath the hotel would be luxury condominiums ranging from 2,000 to 5,000 square feet.
Picker said there is also a plan to develop "The Residences At The Lighthouse," which would be "affordable priced," mid-rise rental apartments that would be connected to the athletic complex and Coliseum.
The delicacy of the plan was borne out yesterday through state and county officials who had inklings of the plan but were hesitant to comment on details, worried about upstaging Wang and blowing the deal.
Some state and county officials said they had learned Wang would finance much of the project himself.
County officials have long said that cash-strapped
For months, Wang has made the political rounds, courting Gov. George Pataki and other
He plans to meet with local officials, Presiding Officer Judy Jacobs, (D-Woodbury) and Minority Leader Peter Schmitt (R-Massapequa), today to discuss his plan in detail.
The Suozzi administration has long viewed a Coliseum project as key to the redevelopment of the central Nassau Hub, which stretches from the
To pull off the second phase of Wang's plan, the county would have some major hurdles to clear. County officials said that a major transportation system, which would cost millions, would have to be developed to accommodate increased use of the area. There are zoning and environmental issues that would have to be worked out as well.
And
The team's owner, Charles Wang, has proposed a plan that would radically alter
The plan calls for Nassau Coliseum to be renovated, lowering the floor to create additional seating, including luxury boxes. An athletic complex would be built next to the Coliseum, which would have an ice rink, basketball and volleyball courts and a health club.
Students could benefit from the renovation, Melissa Connolly, assistant vice president for University Relations, said.
"The President [of Hofstra] has been supportive of Mr. Wang and thinks the proposal is good for Hofstra," she said. "The plan includes a sports complex in walking distance from Hofstra and this would greatly improve campus life."
Connolly said she is excited for any place to be considered "walkable" from the University.
As far as concerns about traffic and other problems dealing with increased urbanization of the area, Connolly assured the University's facilities and personnel would handle any such changes.
"Hofstra has a history of developing according to the needs of its students and we will address key problems that might arise," she said.
Since renovations have not been finalized, the University has no specific plans to deal with the changes as of yet.
"Events already at Hofstra, such as the Special Olympics and various athletic camps, have been handled," she said.
Connolly also noted construction has occurred around the University before without incident, citing the buildings behind the residence halls, which were erected in recent years.
Connolly was unable to say how the University would formally use the renovated Nassau Coliseum. A formal current relationship with Nassau Coliseum has not been established.
Renovating the Coliseum and adding a sports complex is only the first phase of Wang's overall plan. The second phase calls for a total transformation of the 70-acre area around the Coliseum. Luxury condominiums and a hotel would be built, with a 60-story lighthouse dubbed the "Great Lighthouse," as the centerpiece.
When people think of Long Island, they generally think of beaches and huge houses in the
Charles Wang, real estate developer and NY Islanders owner, has proposed a new cultural hub that would help change that reputation. Wang's project is privately funded, so tax payers won't be charged a penny.
The “Lighthouse on
The Lighthouse project is something for Long Islanders to get excited about for a number of reasons. First, it won’t cost taxpayers anything because it is being privately funded. Second, it will create over 3000 new jobs. Finally, it will invite more events and concerts to come to
Wang’s original proposal was drafted in the summer of 2004 with a Letter of Intent. They are still waiting for their lease agreement to be approved. For now, things seem to be at a stand-still. Wang’s proposal is ready to be set in motion. It just needs to be approved by
Click here to see a map of the Lighthouse Long Island site.
Cassie Goldberg works in Nassau Coliseum for the New York Islanders hockey team. She is excited about the prospect of working in a renovated arena. “The Coliseum is really small. It’s outdated and I’d love to see some renovations here. I’d be really excited to have a more modern place to do work. It’d make everything easier.”
The Islanders could benefit from a renovated facility. Goldberg says that they often run out of space for members of the press. She also says that the building is in need of repairs and costs a lot to maintain. She feels that people would be more interesting in coming to the games if the arena was nicer. Nassau County Executive Tom Suozzi is also in favor of the project. In February, he confirmed his support of the construction and spoke with Long Islanders about the need to spur economic development in
Two of the four proposals for the site underwent major revisions -- most notably the withdrawal of plans for the tower by Mr. Wang, the owner of the New York Islanders and a founder of Computer Associates of Islandia, and Scott Rechler, the chief executive of Reckson Associates Realty of Melville.
Mr. Wang and Mr. Rechler told
At the same time, and in response to a Dec. 23 deadline that the county set for final offers from the competing developers, the New York Mets Development Corporation expanded its plans with a proposal to knock down the 34-year-old coliseum and replace it with a new arena as part of a broader $1.5 billion project. The Mets' proposal also includes a station for a light-rail spur.
None of the three proposals competing with Mr. Wang's and Mr. Rechler's include a tower, though all envision multistory buildings.
Mr. Wang had campaigned across the county to build public support for his tower, which he referred to as a lighthouse. He had promoted it as a presence that, besides being the tallest structure on Long Island, would give both the
Critics said the tower was grandiose, presumptuous and an affront to the low-slung suburban horizon.
The proposal lost much of its momentum when the county executive, Thomas R. Suozzi, said during his re-election campaign that he was not in favor of the idea; he had previously urged Mr. Wang to come up a plan that would revive the coliseum's sagging fortunes.
In their letter, dated Dec. 22 but not released by the county until Wednesday, Mr. Wang and Mr. Rechler said that although they had argued repeatedly that the project needed a ''distinctive icon,'' they were ''not willing to allow the tower to be the political football that keeps the Lighthouse Project from becoming a reality for the benefit of Long Island.''
''Accordingly,'' the letter continued, ''the Lighthouse vision will no longer contain the tower. Instead, we will work with the Town of
The letter did not say what would be appropriate, and the project's spokesman, Chris Botta, said that Mr. Wang had not specified whether it needed to be a tall structure.
Mr. Wang had previously expressed frustration with the slow pace of county action. His letter accused the county of allowing the coliseum, the home of the Islanders, to become ''one of the worst venues in the country'' and ''the last choice in the
The letter also called the coliseum ''a financial drain on an already fiscally beleaguered county'' and said that the Islanders had lost $100 million over the last five years.
The letter ended with a plea that the Lighthouse Project be put before the
Helena E. Williams, a deputy county executive, said the county would provide its consultants with the responses from the four development teams. She said the consultants would report back by mid-January and an evaluation team, which includes herself and two others, would make recommendations to Mr. Suozzi.
Mr. Suozzi's choice of a proposal would then go to the Legislature, where public hearings would precede a vote.
Mr. Botta said Mr. Wang had made it clear as long ago as Nov. 10, when the development teams made presentations to the evaluation committee and Mr. Suozzi, that he was open to alternativMonths ahead of schedule, Lighthouse Development Group--a joint venture of developer Charles Wang and RexCorp Realty L.L.C.--have filed plans with Long Island's Town of Hempstead for the approximately $2 billion, 5.5 million-square-foot Lighthouse at Long Island mixed-used development.
The filing and rezoning of the site marks the start of the official public review and approval process of the project, which will revitalize the Nassau Veterans Memorial Coliseum (pictured) and the surrounding area into a 24/7 suburban center through a 150-acre planned development district. Lighthouse will include various housing projects, office space, complementary retail, conference and exhibition space and
In the meantime, the Lighthouse Development team has already started a review of existing environmental conditions surrounding the side, including traffic, access to public transportation, land uses, utilities and other considerations which will form the baseline for an environmental impact statement that will study the impacts associated with the proposal. A public scoping process is expected to begin in early 2008, and RexCorp chairman & CEO Scott Rechler recently told CPN that the project should start within 18 to 24 months.
The project is expected to generate almost $60 million of annual real estate tax revenue, 16,000 construction jobs, thousands of permanent jobs and many new businesses. Overall, Lighthouse at Long Island will add more than $200 million of incremental revenue over the next 25 years to
"This development is a positive for Long Island," said Brian Dugan, senior managing director of CB Richard Ellis Inc.'s Long Island, Queens, Brooklyn and
Dugan noted that many companies have also been more aware of their earnings and may rethink paying $125 per-square-foot rents in
The powerhouse duo of Rechler and Wang have been keeping quite busy as of late; at the end of October, they announced the creation of the Lighthouse Foundation, a charitable organization that received an initial endowment of $1 million from Lighthouse Development Group. The mission of the foundation is to identify and nurture opportunities that strengthen the communities and institutions that surround both the Coliseum and the Lighthouse project.
RexCorp has also recently announced two other major mixed-use projects on Long Island: the $1 billion, 67-acre waterfront Glen Isles development in
No comments:
Post a Comment