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Tuesday, May 21, 2013

A casino deserves serious consideration

Last week, freshman Nassau County Executive Ed Mangano laid it on the line for county residents. He told us that the county is facing a $286 million deficit, the largest in its history. Because Mangano is committed to not raising taxes, he must be proactive and think outside the box for ways to raise much-needed revenue.

And so, last Tuesday, Mangano announced that he was in the early stages of negotiations with the Shinnecock Nation regarding the possibility of constructing a casino and entertainment center on the 77-acre Nassau Coliseum site and the surrounding property. The idea may have shocked many of my fellow Long Islanders, but believe me, it deserves serious consideration.

Understandably, there are many questions about a project of this magnitude, but Mangano’s proposal has tremendous potential to create the job and revenue growth Long Island desperately needs.

In my opinion, in today’s economy, it makes a lot more sense than the previously proposed Lighthouse project. For six years, real estate developer Charles Wang, the majority owner of the New York Islanders, has been pressuring elected officials from the Town of Hempstead and Nassau County to authorize this $3.7 billion project.

Wang’s proposal encompasses 150 acres, and would transform the Coliseum and the surrounding property into condominiums, a five-star hotel, an athletics complex and corporate offices, highlighted by two 36-story office towers.

Although home prices in Nassau County have remained steady and property in many communities is still valuable, such is not the case for the commercial real estate market. Office space is being leased, but landlords have been forced to renegotiate contracts with tenants at remarkably reduced rates. There are also fewer leases being signed than in previous years.

Six years ago our economy was in much better shape. It might have been possible to finance the project and fill 36 stories of office space. Now, regardless of the developer, it’s impossible. Even though the commercial realty market has been creeping back, the current market would not be able to sustain such a grand endeavor.

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3 comments on this item

I found this quote to be the most interesting in the article:

"This process will not be easy, but we shouldn’t let the obstacles of innovation distract us from the potentials of long-term growth."

Wang and Rechler have pretty much been saying the SAME EXACT THING for the last eight years. And everywhere they turn, they've faced opposition from the Town of Hempstead. The village of Garden City hasn't allowed the LIRR line that runs closest to the Coliseum to reopen for years. They wouldn't do it when the Coliseum was first built, and they wouldn't do it for the Lighthouse. Councilman Santino spent an entire zoning hearing last year fearful that he might see the tallest buildings in the proposed Lighthouse development from his backyard. Councilwoman Goosby was concerned about traffic problems stetching as far back as Long Beach Road. If these are valid concerns, they certainly aren't being addressed by Mangano's desire to bring gambling to Uniondale. The traffic will be just as bad, if not worse, than if the Lighthouse were built, there still won't be mass transit, and all one has to do is drive to the boardwalk in Atlantic City, leave the Las Vegas Strip, or count the number of pawn shops within a mile of the Seminoles' casinos in south Florida to see the urban decay that surrounds a casino.

I THINK THIS IS THE MOST OPUTRAGEOUS IDEA EVER , ONCE AGAIN THE RICH GET RICH , THE POOR GET BROKE AND THE PEOPLE WITH THE DISEASE OF GAMBLING WILL NOT HAVE TO TRAVEL FAR TO LOSE WHATEVER THEY HAVE LEFT , AND THE MOST OUTRAGEOUS THING TOO, IS WHERE YOU WANT TO DO THIS ~WHERE COLLEGE STUDENTS ARE . THATS RIGHT I FORGOT WE DON'T CARE ABOUT THE CHILDREN ANYMORE SO IT SEEMS ANY WHERE , HOW MANY MORE DEATHS WILL BE CAUSED BY OPENING UP A CASINO , LETTING MINORS GAMBLE , GET HIGH BECAUSE INCASE YOU HAVE ALL LOST YOUR MINDS ALCOHOL IS A DRUG , WE JUST LOST 7 MORE CHILDREN DUE TO OVER DOSES AND REALLY DOES IT MATTER WHAT THE SUBSTANCE WAS . ONCE AGAIN NO ONE IS THINKING ABOUT THE CHILDREN , THERE PARENTS , HOW ABOUT THIS YOU GREEDY PEOPLE WHO HAVE NO CLUE HOW MUCH A GALLON OF MILK COSTS LET ALONE FEED A FAMILY OF 4 , FOR OUR POLICE WANT TO MAKE 200,000 AND OUR TEACHERS WHO BY THE WAY WORK LIKE 6 MONTHS OUT OF A YEAR WANT TO MAKE MORE THAN 100,000 A YEAR , SHOW ME RESULTS , YOU CAN NOT . AND THE SUPER INDENDENTS EXACTALY WHAT ARE THEY DOING TO IMPROVE THE QUALITY AND SAFETY OF OUR AND I SAY OUR CHILDREN , NOT A THING AS FAR AS I HAVE SEEN AND I HAVE BEEN A CONSULTANT FOR 15 YEARS . WAKE UP . THE LAST THING WE NEED ON HEMPSTEAD TURNPIKE , I LIKE HOW YOU FORGET TO MENTION THAT HEMPSTEAD TURNPIKE HAS ABOUT 6 BARS TO CATER TO THE COLEGE STUDENTS WHO BY LAW ARE NOT ALLOWED TO DRINK START GIVING A DAMN AND MAKE A HEALTHY PLACE FOR THE CHILDREN AND YOUNG PEOPLE TO GO TO , NOT AN ADULT ENTERTAINMENT CENTER WHERE YOU ARE ASKING FOR PROSTUTION ( YES I KNOW YOU WILL CALL THEM CALL GIRLS OR SHOW GIRLS ) SAME DIFFERENCE , MEN WILL PAY TO HAVE SEX , MANY WILL THAN BE TEMPTED TO CHEAT ON THERE WIFES AND FAMILIES AND MORALS WILL BE SHOT DOWN . HAVEN'T WE SEEN ENOUGH TO SEE THAt the falL of the roman empire happened due to lust ~ greed ~ fake g-ds and etc... when are we going to really get real here on the island . oops i did it again we must not let the property values go down , heaven forbid , mr damato when was the last time you visited an abuse center for children ~ woman ~ when was the last time you did volunteer work at a soup kitchen and by the way you live right here so give up your golf time and work at the soup kitchen in long beach , maybe all the homeless people can live and eat at your house . enough is enough . wake up , we are losing our babies from drugs all kinds and by the way ask any gambler in ga , if gambling did not destroy there lives . LET ME KNOW THE ONE THAT SAYS YES .

I THINK THIS IS THE MOST OPUTRAGEOUS IDEA EVER , ONCE AGAIN THE RICH GET RICH , THE POOR GET BROKE AND THE PEOPLE WITH THE DISEASE OF GAMBLING WILL NOT HAVE TO TRAVEL FAR TO LOSE WHATEVER THEY HAVE LEFT , AND THE MOST OUTRAGEOUS THING TOO, IS WHERE YOU WANT TO DO THIS ~WHERE COLLEGE STUDENTS ARE . THATS RIGHT I FORGOT WE DON'T CARE ABOUT THE CHILDREN ANYMORE SO IT SEEMS ANY WHERE , HOW MANY MORE DEATHS WILL BE CAUSED BY OPENING UP A CASINO , LETTING MINORS GAMBLE , GET HIGH BECAUSE INCASE YOU HAVE ALL LOST YOUR MINDS ALCOHOL IS A DRUG , WE JUST LOST 7 MORE CHILDREN DUE TO OVER DOSES AND REALLY DOES IT MATTER WHAT THE SUBSTANCE WAS . ONCE AGAIN NO ONE IS THINKING ABOUT THE CHILDREN , THERE PARENTS , HOW ABOUT THIS YOU GREEDY PEOPLE WHO HAVE NO CLUE HOW MUCH A GALLON OF MILK COSTS LET ALONE FEED A FAMILY OF 4 , FOR OUR POLICE WANT TO MAKE 200,000 AND OUR TEACHERS WHO BY THE WAY WORK LIKE 6 MONTHS OUT OF A YEAR WANT TO MAKE MORE THAN 100,000 A YEAR , SHOW ME RESULTS , YOU CAN NOT . AND THE SUPER INDENDENTS EXACTALY WHAT ARE THEY DOING TO IMPROVE THE QUALITY AND SAFETY OF OUR AND I SAY OUR CHILDREN , NOT A THING AS FAR AS I HAVE SEEN AND I HAVE BEEN A CONSULTANT FOR 15 YEARS . WAKE UP . THE LAST THING WE NEED ON HEMPSTEAD TURNPIKE , I LIKE HOW YOU FORGET TO MENTION THAT HEMPSTEAD TURNPIKE HAS ABOUT 6 BARS TO CATER TO THE COLEGE STUDENTS WHO BY LAW ARE NOT ALLOWED TO DRINK START GIVING A DAMN AND MAKE A HEALTHY PLACE FOR THE CHILDREN AND YOUNG PEOPLE TO GO TO , NOT AN ADULT ENTERTAINMENT CENTER WHERE YOU ARE ASKING FOR PROSTUTION ( YES I KNOW YOU WILL CALL THEM CALL GIRLS OR SHOW GIRLS ) SAME DIFFERENCE , MEN WILL PAY TO HAVE SEX , MANY WILL THAN BE TEMPTED TO CHEAT ON THERE WIFES AND FAMILIES AND MORALS WILL BE SHOT DOWN . HAVEN'T WE SEEN ENOUGH TO SEE THAt the falL of the roman empire happened due to lust ~ greed ~ fake g-ds and etc... when are we going to really get real here on the island . oops i did it again we must not let the property values go down , heaven forbid , mr damato when was the last time you visited an abuse center for children ~ woman ~ when was the last time you did volunteer work at a soup kitchen and by the way you live right here so give up your golf time and work at the soup kitchen in long beach , maybe all the homeless people can live and eat at your house . enough is enough . wake up , we are losing our babies from drugs all kinds and by the way ask any gambler in ga , if gambling did not destroy there lives . LET ME KNOW THE ONE THAT SAYS YES .

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