Plans unveiled for $1.5B Nassau Hub mixed-use project
- Developers BSE Global and RXR Realty have unveiled new details about their plans for the $1.5 billion Nassau Hub project that has the potential to transform 72 acres around NYCB Live's Nassau Coliseum in Uniondale, New York, into a vibrant live-work-play district, Newsday reported.
- The plan includes construction 500 units of residences, 600,000 square feet of office and biotech research space, 200,000 square feet of "experiential retail" and two parking garages. BSE and RXR also will add two hotels into the mix, one with limited services and a second "high-end" brand. It is possible that Mount Sinai Health Network could build a 100,000-square-foot facility at the Hub, and developers said they are negotiating with companies interested in moving into space next to an existing Memorial Sloan Kettering Cancer Center outpatient hospital on the edge of the property.
- BSE and RXR told Newsday that construction on the first phase could begin by year's end, but there are still a few obstacles. Nassau County lawmakers must vote on a lease for the property that includes a revenue-sharing agreement with developers, and the project still must obtain site-plan approval and building permits. In addition, the county is looking to the state for some funding, including $85 million to build the parking garages, $20 million toward life science project development, $20 million to build three pedestrian bridges and potentially $10 million to $20 million for a bus rapid transit system.
Last month, Nassau County selected BSE and RXR to develop the Hub with the goal of making it a destination that would draw visitors, businesses and residents alike, turning the last significant piece of land in the county into a lively village-style development. Previous plans to develop the property have failed, largely due to Hempstead building regulations, but developers have taken care to ensure that this rendition checks all the boxes.
If Hub construction gets into full swing by the end of the year as tentatively planned, developers of the proposed $1 billion New York Islanders arena complex at Belmont Park in Elmont, New York, could find available contractors and workers in short supply. The two projects are about 10 miles apart, so they'll likely be pulling from the same pool of labor. The hockey team currently plays some of its home games at the Nassau Coliseum.
At least one Hempstead official has cast doubt on the viability of the two projects given their proximity to each other. Town of Hempstead Councilman Bruce Blakeman reportedly expressed concern that the area cannot support two arenas and that if the Coliseum ends up struggling financially it could compromise the rest of the Hub development.
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