The company has entered into agreements to purchase the long-term lease of the site currently home to the Nassau Veterans Memorial Coliseum. These transactions, which still require certain approvals, would grant the company control of up to 80 acres in Nassau County, New York.
“Our company’s track record of driving significant economic benefits to the communities in which we operate and the meaningful relationships and partnerships we have created in each of those communities gives us a unique perspective on what it takes to develop transformative tourism destinations that positively impact the local community. Based on that experience, we strongly believe Long Island can be home to one of the region’s great entertainment and hospitality developments,” said Robert G. Goldstein, the company’s chairman and chief executive officer.
“Our announcement today is only the first part of this journey. Our ability to put forward a compelling and competitive proposal will only succeed if we engage with the Long Island community and, in collaboration, develop a proposal that reflects the input of all those involved.”
The integrated resort components of a Long Island development would include outdoor community spaces, four and five-star hotel rooms and a world-class live performance venue honoring the long legacy of live music at the Nassau Coliseum. The resort property would also feature celebrity chef restaurants, experiential events and venues and flexible meeting and convention space, including ballrooms.
Other amenities would include high-quality casino gaming, which is planned to represent less than ten percent of the project’s total square footage, a luxurious day spa, swimming pool and health club, and a variety of other entertainment programming.
“After nearly two decades of working to transform the Nassau Coliseum site, including countless hours meeting with thousands of community members, the message has been overwhelmingly clear that Long Islanders want a global renowned entertainment destination that creates well-paying jobs and new opportunities at the Nassau Hub. But the challenge for turning this vision into reality has always been the commercial viability of a site encumbered by a nearly obsolete half-century-old arena,” said Scott Rechler, CEO and chairman of RXR.
Goldstein added: “Our proposed project would be designed to produce tens of millions of dollars in tax revenue for the local community on an annual basis, potentially offering property tax relief for residents. The project would also provide a lift for local businesses through a robust procurement program and support a broad range of community organizations and causes.”
The project would also provide thousands of quality union jobs in both construction and operations.
Governor Paterson also said: “Our diversity and inclusion strategies will foster an environment of collaboration and economic equity. Our goal will be to ensure that our supply chain is fulfilled from small businesses, minority-owned, women-owned as well as veteran and disabled entrepreneurs based locally so that our surrounding communities are central and fully participating in the success of this project.”
“The entire Sands team is excited for the opportunity to help bring this vision to reality and we are ready to work in a serious and transparent manner with the local community in an effort to bring an exciting new industry to Long Island,” concluded Goldstein.
Source: G3 Newswire
