Reckson, Wang Team on Lighthouse Project

UNIONDALE, NY-Reckson Associates and Charles Wang’s Lighthouse Development will partner on the proposed Lighthouse Project here. Plans previously announced for the Lighthouse include a 60-story structure that will be the tallest building on Long Island, the complete makeover of the Nassau Veterans Memorial Coliseum and the addition of a 50,000-sf recreation center and a conference center. The projected once completed is estimated to cost in excess of $1 billion.

The partners will jointly develop residential, commercial and retail components of the plan for the area surrounding the Nassau Veterans Memorial Coliseum, home to Wang’s two sports franchises, the New York Islanders and New York Dragons. The JV is pulling together the 77-acre Coliseum site with the 14-acre Marriott Hotel site, which Wang is under contract to acquire. The site is located near the approximately 2.6 million sf of class A office space owned by Reckson. That includes the EAB Plaza which Reckson is currently under contract to acquire.