The $1.25 billion development/stadium approval is expected from the New York StateEmpire State Development’s board…
There is probably going to be legal challenges to the approval….
Start up construction is expected to begin by the end of the month….
An estimated $1.26-billion plan is taking shape on state land at Belmont Park, to be anchored by the new arena. The project is led by New York Arena Partners, which includes Islanders ownership, Sterling Project Development (controlled by New York Mets owners), and arena developer Oak View Group. Under the current scope, the 19,000-capacity arena would be the centerpiece of surrounding development that includes a 250-room hotel, 350,000 square feet of retail space, parking, and more.
To ease traffic congestion in the area, New York governor Andrew Cuomo unveiled plans last month for a new $105-million Long Island Rail Road (LIRR) station as part of the development. Arena developers will eventually pay $97 million of the $105-million price tag.
The proposal has been studied and debated considerably, and it is set to go before state economic development agency Empire State Development’s (ESD) six-member board for final approval on Thursday afternoon.
Last week, the state Public Authorities Control Board approved ESD’s acquisition of the 43-acre Belmont property from the state Franchise Oversight Board, the agency that oversees the New York Racing Association. The Franchise Oversight Board still would need to approve the state’s environmental review.
The approvals would pave the way for the return of the National Hockey League Islanders to Long Island. Backers also say the project would generate an estimated $858 million in economic impact, and that a new, full-service Long Island Rail Road stop, infrastructure repairs and thousands of jobs also would be created.
“This is about our pride as Long Islanders. The Islanders belong here — let’s get Belmont done,” Nassau County Executive Laura Curran, a Democrat, said Wednesday….
Some civic groups representing residents in the surrounding communities of Floral Park, Elmont and Bellerose have taken issue with the size and scope of the arena project since Gov. Andrew M. Cuomo announced the plan in December 2017…..
image…The Island Now….