Monday, July 20, 2009

SPOTLIGHT: The Lighthouse @ Long Island Project

All World All Sports

-Digger's Daily-

Day after day news headlines highlight America's deepening economic struggles, reckless Federal Government debt spending and staggering nationwide unemployment figures.

It's time to shine a spotlight on a potential economic boom for Long Island's Nassau County (NY) residents. The following information quoted below has been copied directly from the official site of the Lighthouse Development Group. Click on the link to their site which illustrates in detail a proposed project geared to create tax revenues, jobs, residences, convention center, recreational facilities, five star hotel, commercial venues and new state of the art revitalized Nassau Veterans Memorial Coliseum.

Save the Date - A public hearing is scheduled for August 4th, 9:30 am, at the John Cranford Adams Playhouse at Hofstra University. I urge my fellow Long Islanders to voice support for Nassau's biggest and most productive venue guaranteed to provide a boost to our local economy for generations to come.

* * * The Lighthouse @ Long Island Project * * *

"Lighthouse Development Group, LLC, a joint venture between Charles Wang, the Founder of the Lighthouse project and owner of the New York Islanders, and RXR, 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 RXR'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, surrounded by exciting residential neighborhoods with a variety of housing options, lifestyle retail and entertainment venues, Class A office space including an incubator for the sports technology industry, multi-purpose athletic complex, state-of-the-art conference and exhibition facilities, a minor league ballpark, and the first 5-star hotel on Long Island. The estimated $3.74 billion project is expected to generate $71 million of annual tax revenues. An expected 75,000 construction and construction related jobs will be created over the 8-to-10 year build out of the project. Once completed, 19,000 thousand permanent jobs and many new businesses will provide the opportunities and careers Long Islanders need and want. A transformed coliseum will ensure the New York Islanders have a state-of-the-art home for decades to come. The Lighthouse at Long Island, in the backyard of America's first suburb, will create a destination for future generations of Long Islanders."

"The Lighthouse at Long Island Top Ten Facts:
1. The Lighthouse project will transform the 150-acres at the Nassau Veterans Memorial Coliseum site and the surrounding area into Long Island’s signature destination.
2. The Lighthouse is approximately 5.5 million square feet of new mixed-use development and will be designed and developed to be Long Island’s largest LEED, environmentally friendly, project.
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, Celebration Plaza, will be larger than New York City’s Bryant Park, and will soon become Long Island’s favorite meeting place for family concerts, or just relaxing with a friend.
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. Long Island’s first five-star hotel will contain 300 rooms, meeting and banquet facilities, and luxury full-service condominiums.
8. The project will have more than 250,000 square feet of Convention, Conference and Exhibition space and will establish Long Island as a preferred destination for national and international programs while giving local companies a place to host their events.
9. One million square feet of new class A office space, including a sports technology center, will attract new industries and create jobs and career opportunities as well as allow local companies to expand in the heart of Nassau County.
10. The project’s approximately 500,000 square feet of complementary retail, restaurants, and cafes will provide great places to dine and shop for residents and visitors alike."

I will provide personalized periodic updated blogs on this project once more information is made public by Nassau County. Stay tuned!


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