N.Y.-based RXR Realty and BSE Global, which operates NYCB Live’s Nassau Coliseum, have "agreed to build and finance" a $1.5B project with "housing, retail and office space on 72 acres around the arena now largely covered in asphalt," according to Candice Ferrette of NEWSDAY. The site, also known as the Nassau Hub, is the "last major tract of undeveloped land in Nassau County." RXR would be named “master developer” of a project that includes 500 "units of housing; 600,000 square feet of office and biotech research space; 200,000 square feet of 'experiential retail'; two pedestrian bridges; bus rapid transit to the Long Island Rail Road; and 3,400 parking spaces, including two parking garages." BSE "holds a 49-year lease to the property where the Coliseum is located." According to the lease agreement, any surrounding development "must complement or be compatible with the Coliseum." BSE CEO Brett Yormark said, "It's about live, work and play -- that's the kind of environment we're trying to create here." BSE and RXR officials said that they will "include in the venture another company with expertise in attracting and operating retail and entertainment destinations" (NEWSDAY, 9/5).
