By Hector Flores
The decision was made public last week by Nassau County Executive Thomas Suozzi, who said, "After a thorough, competitive and open review process, my evaluation team has chosen the Lighthouse Group¹s proposal. Their plan stood up against top-notch competition, and emerged as the best of the best."
The county had originally received proposals for the redevelopment of the Coliseum¹s 77-acre property, but when the Lighthouse group proposed a plan that included its three surrounding properties the Marriott Hotel, Reckson Plaza and the Omni Office Complex the project morphed into one encompassing 150 acres and including not only the Coliseum, but a hotel as well as retail, office and residential space. It was seen as a good deal for Suozzi, who is hoping to reduce homeowners¹ property taxes by increasing the county's commercial tax base.
"We are the first 50-year-old suburb faced with three major problems: high taxes, traffic, and our young people moving out of the county,² Suozzi said. ³This project helps solve all three problems.²
He added that the Lighthouse group¹s proposal best incorporated the proposals of the other developers, including a new minor league ballpark and affordable housing. But what ultimately sealed the deal was the group's control of the New York Islanders hockey team and its promise to keep the team in the Coliseum until 2025.
³This proposal could be a new economic engine for Nassau County, but to guarantee this we need the Islanders,² Suozzi said. ³The other developers could not give us this guarantee, only Wang.²
County officials will now work to reach a Memorandum of Agreement with the Lighthouse group that will formalize the terms of the deal and establish a period for lease negotiations. Once an agreement is reached, it will be submitted for approval to the Nassau County Legislature and the Town of Hempstead, which oversees the site¹s zoning rights.
One factor that can stall the project is if Lighthouse reneges on its promise to build a minor league ballpark. ³Wang has the Islanders and control of the property around the area,² Suozzi said. ³They proposed the baseball stadium. The county will choose the area, but if the [ballpark] is not built, the project is off.²
Judy Jacobs, presiding officer of the county Legislature and a Democrat of Woodbury, said that no decision can be made by the Legislature because the clerk has yet to be presented with any plans for review. Once the plans are presented, the Legislature can begin holding hearings.
"It will take a month for us to examine the plan environmentally and economically," Jacobs said. "We want to make sure that transportation is in place to accommodate what is being built on the 70 acres. We just need all our questions answered. The bottom line is that all the legislators know that the proper development of this site will help the future of the county."
If approved, construction on the site could begin within the next two years. Once completed, the $1.6 billion development could net the county $160 million in new taxes through 2025.
Comments about this story? HFlores@liherald.com or (516) 569-4000 ext. 283.
