HEMPSTEAD, NY –Nassau County Executive Laura Curran today filed with the Nassau County Legislature proposed amendments to the existing lease agreement with the support of BSE Global (BSE), who manages and operates NYCB Live, home of the Nassau Veterans Memorial Coliseum. The amendments set forth an inclusive and collaborative process for moving forward with proposed plans for BSE and their chosen partner, RXR Realty (RXR), to develop a transformative plan for the Nassau Hub.
“The Legislature’s approval of these amendments is critical to moving forward with this top-notch development team and to getting shovels in the ground at the Hub as soon as possible,” said Curran. “Development at the Hub is essential to creating jobs and growing the County’s tax base.”
“We’re thrilled to propose a dynamic plan under the rights of our lease and move forward with a concept that focuses on developing a live, work, play environment,” said Brett Yormark, CEO of BSE Global. “By combining the vision of the County Executive and RXR, we are primed to build a project that can serve generations of Long Islanders to come through a combination of uses, including transformational commercial office space and destination and experiential retail. We’re looking forward to getting started.”
“We look forward to the opportunity to work with the County Executive, the Legislature, our partners at BSE Global and especially the residents of the surrounding communities to formulate plans to advance this important project,” said Scott Rechler, Chairman and CEO of Uniondale-based RXR Realty. “A successful activation of the Hub site will benefit all of Nassau County and the region beyond.”
The $1.5 billion plan calls for housing, experiential retail, and office and biotech research space.
If approved by the Nassau County Legislature, development will move forward with $85 million in state funding for on-site structured parking--a critical component to any development of the Hub.
Curran is also seeking additional state funds for pedestrian bridges, which would connect the Hub with Hofstra, Nassau Community College and nearby offices, as well as state incentives to attract a bio-medical of life sciences employer. Mt. Sinai Health Network has expressed interest in establishing a 100,000-square-foot medical research facility at the site.
Highlights of the initial BSE/RXR plan include:
“This is it. We are going to bring transformative development to the Nassau Hub,” said Curran. “Never before have the stars been aligned. There is funding, political support and zoning approval in place. All the stakeholders are engaged and focused. The county is committed to working with our partners in government and the community. This project epitomizes my vision for a real live-work-play district at the Hub and will transform the landscape of Nassau County.”