SBD/May 3, 2013/Facilities

Four Developers Submit Proposals For Nassau Coliseum; Jay-Z Part Of Ratner's Bid

Developer Bruce Ratner proposed a $229M project that included a 13,000-seat arena
Four developers on Thursday submitted proposals to "transform the 40-year-old Nassau Coliseum into an arena capable of attracting top concert acts and sporting events while generating millions of dollars in new revenue for Nassau County," according to Robert Brodsky of NEWSDAY. Nassau County Exec Edward Mangano is "expected to make a decision by July 15." The county legislature would "have to approve the contract with the winning bidder." The proposals made public Thursday include "entertainment venues, convention center space, restaurants, sports bars, retail, bowling and an outdoor amphitheater." Each of the bidders said that they would "finance the work without using public funds, with costs ranging from" $60-$250M. Forest City Ratner Chair & CEO and Nets investor Bruce Ratner proposed a $229M project that included a "13,000-seat arena that could be downsized to 4,000 seats for smaller family shows." Ratner's project calls for "309 events per year at the Coliseum, including six Islanders regular-season games, one Brooklyn Nets preseason game and 83 outdoor events." Ratner said that Jay-Z's Roc Nation is "associated with the project and will help attract acts." Meanwhile, New York Sports & Entertainment CEO Bernard Shereck would spend $60-$90M to "refurbish the Coliseum's interior." Shereck would "downsize the arena to 8,000-10,000 seats and reduce parking to 3,600 spots, from the current 6,800." Blumenfeld Development Group Founder & President Edward Blumenfeld would spend $180M to "tear down the Coliseum and build a new 9,000-12,000 seat arena." Blumenfeld, partnering with SMG, also would "build a 100,000-square-foot convention center at the site of the existing exhibition center below the arena." MSG's proposal would spend $250M for a "renovated 14,500-seat arena" and "mixed-use entertainment complex." MSG said that "at least one of its sports franchises" -- the WNBA Liberty; the AHL Whale; or the NBA D-League Erie Bayhawks -- would "play at the Coliseum" (NEWSDAY, 5/3).
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