After several discussions on the potential future of the Nassau Veterans Memorial Coliseum with the Forest City Ratner team that designed the business model for the Barclays Center in Brooklyn, Nassau County Executive Edward Mangano today announced that he is seeking requests for proposals from throughout the real estate community that would reinvent the aging facility as a new and strong economic anchor for the Hub.
County Executive Mangano stated, “What the Ratner findings have documented is that a ‘right sized’ arena offering appropriate amenities would be a successful family oriented sports and entertainment venue that creates significant revenue for the county and its taxpayers. Its ability to compliment the surrounding development being planned by Renaissance Downtown would ensure that, together, the economic sum would be greater than its combined parts. We have the means of creating a win-win for every county resident, each of whom has a direct stake in the future of the Hub.”
Mangano thanked Bruce Ratner for fulfilling his pledge to advise the county with a pathway towards creating a 21st Century Coliseum capable of being an economic engine for Nassau County, an anchor for Hub real estate development and a destination that would attract family friendly attractions, programs and entertainment.
The County Executive observed, “Mr. Ratner brought to the table the resources of a corporate team that is respected worldwide. They provided insight, analysis and pragmatic planning that allows us to take this to the next step, an RFP for Coliseum redevelopment.”
Mangano also stated, “The RFP we will offer the real estate community reflects that this Administration believes that business needs to be engaged in as many county public – private partnerships as appropriate if we expect to create new jobs, generate new investment and rebuild our tax base so that we can take the burden of government off the individual home owner. It is crucial that we let the private sector do what it does best while letting government provide the essential services where it has demonstrated core competence. Asking the real estate community to bid on the future of the Coliseum is a reflection of our commitment to come to the aid of the Nassau County taxpayer through innovative public policy initiatives.”
The RFP has set a deadline of 30 days for the real estate community to file responses with Nassau County. The respondents need to be prepared to work closely with Renaissance Downtown, the designated “Master Developer” of the Hub and to abide by existing Town of Hempstead zoning for the Hub.