The Lighthouse Project

Add links
Source: Wikipedia, the free encyclopedia.
For the EP by amiina, see The Lighthouse Project (EP).
"Lighthouse Project" redirects here. For the management concept, see Lighthouse project.
The Lighthouse Project
Mixed use
LocationUniondale, New York
Estimated completioncancelled

The Lighthouse Project, officially named The Lighthouse at Long Island, was a proposed transformation of the

five-star hotel. There would also be an athletic complex, conference and exhibition facilities, and a minor league baseball ballpark.[1]

The Lighthouse Project was expected to take 8 to 10 years to be completed, and to cost about $3.74 billion. The investors expected the project to generate $71 million of annual tax revenues, and create about 75,000 construction and construction-related jobs. After the project's completion, 19,000 new permanent jobs were expected to be created.[1] Many believe the project's approval would have been the only way that Wang would have kept the Islanders on Long Island, rather than selling or moving the team.[2] However, Nassau County residents voted against building a new arena for the Islanders on August 1, 2011.[3]

Proposal

Nassau Veterans Memorial Coliseum
in 2009, promoting the Lighthouse Project

The Nassau Veterans Memorial Coliseum was currently the second-oldest arena in active use by an NHL team (after

MTS Centre). Nassau County asked for and received proposals from different development groups regarding how to renovate and build up the coliseum and surrounding area. Islanders owner Charles Wang proposed a plan to develop the area surrounding the arena; his plan originally included a renovation of the Coliseum, a 60-story tower designed to look like a lighthouse, housing, athletic facilities, a new minor league baseball stadium, restaurants, and a new hotel, at a projected overall cost of approximately $200 million.[4]
On August 14, 2007, Charles Wang and the Lighthouse Development Group, partnered with Rexcorp, created a new plan downsizing the entire project. The Coliseum design changed considerably, and the 60 story "Lighthouse" was replaced with two 30-story buildings connected by a footbridge.

2009–17

In February 2009, local media speculated that

New Jersey Nets basketball team.[6][7] Financing documents for the arena released in December 2009 indicated that “The New York Islanders could potentially become a tenant” at the Barclays Center.[8] The Islanders' agreement with the New York Rangers allows them to relocate anywhere on Long Island, including Brooklyn and Queens.[9]

In May 2009, Newsday reported that Wang had subsidized the team by $208.8 million, an average of $23 million per year since buying it, beyond what he paid for it.[2]

After the October 2009 deadline passed, the Long Island Press reported the cancellation of the Lighthouse Project.[10] Wang has denied the report.[11]

In May 2010, Mets COO

Jones Lang LaSalle (who also worked on the renovation of Madison Square Garden) on a feasibility study of a new Islanders arena in Queens.[13] However, a source from Newsday indicated that the FanHouse report was not true.[14] There were also reports that businessman Nelson Peltz wanted to buy the Islanders and move them to the Barclays Center in Brooklyn.[15]

On July 12, 2010, Town Supervisor Kate Murray (R-Hempstead) announced an “alternate zone” created for the Nassau Veterans Memorial Coliseum property, downsizing the original Lighthouse Project to half its proposed size and making the project, according to Nassau County Executive Ed Mangano and the developers, "economically unviable for both the developer and owner of the site." From this point, the Lighthouse Project would no longer be pursued by Wang, Mangano and the developers.[16]

On May 11, 2011, the Islanders and Nassau County executives announced that county residents would vote on a referendum for taxpayer funding for a new arena for the New York Islanders on August 1;[17] on that date, county voters rejected a proposal for a new arena to replace the Nassau Coliseum.[3]

On October 24, 2012, it was formally announced that the New York Islanders would be moving to Barclays Center in Brooklyn following the expiration of their lease after the 2014–2015 season.[18]

In 2017, a group led by the Islanders reached a deal to construct a new 18,000-seat arena at Belmont Park.[19][20] and split their schedule between Barclays Center and a recently renovated Nassau Coliseum on an interim basis until the completion of their new home, UBS Arena, in November 2021.[21][22]

References

  1. ^ a b "About the Lighthouse Development Group, LLC". Lighthouseli.com. Retrieved 2009-08-01.
  2. ^ a b Baumbach, Jim (2009-05-02). "Charles Wang regrets buying Islanders". Newsday. Retrieved 2009-07-19.
  3. ^ a b Caldwell, Dave (2011-08-02). "Nassau Voters Reject Proposal to Fix Coliseum". The New York Times. Retrieved 2011-08-02.
  4. ^ Young, Monte R. (2004-09-28). "Visions of $200M renovation". Newsday. Retrieved 2009-07-19.
  5. Daily News. Archived from the original
    on 2009-03-26. Retrieved 2009-07-19.
  6. Daily News. Archived from the original
    on 2009-04-01. Retrieved 2009-07-19.
  7. ^ "Source: Brooklyn Calling On The Islanders". NYI Point Blank. 2009-09-20. Archived from the original on 2009-10-27. Retrieved 2009-10-15.
  8. ^ Calder, Rich (2009-12-03). "It's half-off at Brooklyn arena, but Islanders 'could' join Nets". New York Post. Archived from the original on 2009-12-05. Retrieved 2009-12-05.
  9. ^ Sheets, Connor Adams (2010-05-20). "New York Islanders Ponder Move to Willets Point". Astoria Times. Archived from the original on 2011-07-18. Retrieved 2010-05-30.
  10. ^ Martino, Jr., Michael (2009-10-14). "Press Exclusive: Plug Is Pulled On Lighthouse". Long Island Press. Archived from the original on 2009-10-16. Retrieved 2009-10-15.
  11. ^ Laikin, Eden; Marshall, Randi F. (2009-10-15). "Wang: Lighthouse Project still on". Newsday. Archived from the original on 2009-10-17. Retrieved 2009-10-15.
  12. ^ Mennella, Dan (2010-05-12). "Mets, Isles talk about arena near Citi". MLB.com. Archived from the original on 2010-05-13. Retrieved 2010-05-12.
  13. Fanhouse. Archived from the original
    on 2010-06-16. Retrieved 2010-06-14.
  14. ^ "Report: No firm hired in Isles relocation affair". ESPN.com. 14 June 2010. Retrieved 7 December 2021.
  15. Daily News. New York. Archived from the original
    on 2011-01-10. Retrieved 2011-08-07.
  16. ^ Caputo, Mike (2010-07-12). "Zoning move cuts Lighthouse in half". LIHerald.com. Retrieved 2014-01-01.
  17. ^ Leahy, Sean (May 11, 2011). "Last chance for Islanders? Arena plans rest on Aug. 1 vote". Yahoo! Sports. Archived from the original on 2016-07-01. Retrieved 2017-01-15.
  18. ^ Gretz, Adam (October 24, 2012). "New York Islanders will move to Brooklyn in 2015". CBS Sports. Archived from the original on November 9, 2012. Retrieved October 24, 2012.
  19. Disney–ABC Television Group
    . December 20, 2017. Retrieved December 20, 2017.
  20. ^ Soshnick, Scott (2017-12-19). "NHL's Islanders Win Right to Build Arena at Belmont Site". Bloomberg.com. Retrieved 2018-01-24.
  21. ^ Roy, Yancey (June 21, 2018). "Cuomo: Islanders add 8 more games to Coliseum schedule". Newsday. Archived from the original on June 22, 2018. Retrieved December 24, 2018.
  22. ^ Heyman, Brian (November 20, 2021). "Islanders fans praise UBS Arena as their new home". Newsday. Archived from the original on November 21, 2021. Retrieved 2021-11-21.
Retrieved from "https://en.wikipedia.org/w/index.php?title=The_Lighthouse_Project&oldid=1216679413"