The committee will review a multitude of issues, including environmental sensitivity, economic development, the impact on local infrastructure, as well as the overall integration of the Lighthouse Project into the surrounding community. "We believe the Lighthouse Project will serve as a catalyst for sustained economic growth, and it is critical that we have a process which will guarantee that it is not at the expense of our quality of life or the environment," says Scott Rechler, chairman and CEO of RexCorp Realty LLC, in a prepared statement, who is a partner of the project.
The Lighthouse Project, as GlobeSt.com previously reported, is the transformation of the Coliseum site and surrounding area into a modern suburban center. The centerpiece will be a revitalized arena for the New York Islanders and New York Dragons, surrounded by residential neighborhoods, lifestyle retail and entertainment venues, a sports technology center, multi-purpose athletic complex, conference and exhibition facilities, a baseball stadium, and the first five-star hotel on Long Island.
The estimated $2 billion project is expected to generate almost $60 million of annual real estate tax revenue. An expected 16,000 construction jobs, thousands of permanent jobs and many new businesses will be created. Overall, the Lighthouse Project will add more than $200 million of incremental revenue over the next 25 years to the County and the State from the renovation of the Coliseum alone and keep the New York Islanders on Long Island for many years to come.
Inaugural members of the committee include Eric Alexander, director of Vision Long Island; Richard Bivone, president of Nassau Council of Chambers of Commerce; Matt Crosson, president of Long Island Association; John Durso, president of Long Island Federation of Labor, AFL-CIO; Eric Eichenlaub, majority counsel of Nassau County Legislature; Marilyn Gottlieb, deputy county executive for compliance of Nassau County; Richard Guardino, VP of business development center at Hofstra University; Henry Holley, president and CEO of the Holley Group; Richard Kessel, CEO and president of LIPA; Sarah Lansdale, executive director of Sustainable Long Island; Jose Lopez, commissioner of Nassau County Parks, Recreation and Museums; Mary Ellen Mendelsohn of Congresswoman Carolyn McCarthy's Office; Daniel J. McCloy, senior legal/financial advisor to the minority, Nassau County Legislature; Yvonne Nicholas, trustee of Long Island Children's Museum; Gordian Raacke, founder and executive director of Renewable Energy Long Island; Todd Richman, chairman of Cradle of Aviation; Jennifer Rimmer, VP for subsidiary development of Empire State Development Corp.; Ed Travaglianti, president of Commerce Bank Long Island; Michael White, executive director of Long Island Regional Planning Board; Robert Wiebolt, executive director, Long Island Builders Institute and Robert Yaro, president of Regional Plan Assoc.
The Committee's first meeting will be held on September 19th and will meet regularly to receive updates on the Project's progress, including community outreach efforts, and to provide feedback from the community. Lighthouse Development Group is a joint venture between Charles Wang, the founder of the Lighthouse Project and owner of the New York Islanders and New York Dragons, and RexCorp Realty, who is the exclusive developer of the Coliseum site.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
