July 23, 2013 | 1117 views
Master developer endorses MSG
Renaissance Downtowns' Donald Monti says Hank Ratner's proposal will "deliver the most benefits"
Renaissance Downtowns’ CEO Donald Monti gave his endorsement on Monday to the Madison Square Garden company, and their proposal to renovate the Nassau Veterans Memorial Coliseum in Uniondale, calling it “the one that will deliver the most benefits for Long Island.”
Monti was selected by County Executive Ed Mangano last November as the master developer to work alongside the chosen developer of the Uniondale arena and its 77-acre site.
Earlier this month, Mangano selected MSG and Forest City Ratner as the finalists to gain the Coliseum bid. The two companies are currently finalizing contracts, which they will submit to the county executive and his Business Advisory Council. Based on the final offers, Mangano will make a decision in mid-August.
According to Renaissance Downtowns, Monti made the decision after evaluating the two proposals.
The company said it will work with MSG to explore ways to connect the Coliseum site to nearby Long Island institutions and developments, including Hempstead Village — which will be revitalized by Renaissance Downtowns later this year — Museum Row, Mitchell Park, Hofstra University, Nassau Community College and North Shore-LIJ.
Madison Square Garden’s partners include RXR Realty, the Cordish Companies, BBB Architects and Jones Lang LaSalle.
Monti lauded MSG’s prior restorations of Madison Square Garden, Radio City Music Hall and the Beacon Theatre. “After thoroughly evaluating the proposals, it is clear that no one has a better track record than MSG at successfully revitalizing venues,” he said. “Add on the success of MSG’s partners … and you’ve assembled a winning team that specializes in creating first-class destinations that provide enormous benefits to each community they serve.”
In a statement, MSG President and CEO Hank Ratner said, “As we’ve said all along, our team has the necessary experience, talent and resources to deliver on our promises … To have someone like Don, who has such a vested interest in the success of Nassau County, endorse our plan is extremely gratifying.