The National Hockey League gets $350 million for the deal over 20 years….The team should get about $17.5 million a year…
The arena will host hockey games and will also be available to feature other events, and should become the third location for NY Metro entertainment large events joining Madison Square Garden in New York City and the Meadowlands in New Jersey…
The area will hold from 17,500 to 19,000 people for an event…
The arena is due to open on time next year for the first home NY Islanders game of the season….
The hockey team has revealed that they’ve secured 20-year naming rights for the $1.5 billion “village” arena project and released a host of new renderings.
As a quick refresher (although any New York hockey fan would sure be familiar), Barclays has often butted up against the technical limitations of converting a basketball arena into a venue for hockey and fans have complained for years about the sub-optimal seating arrangements. As a result, the Islanders eyed returning to suburban Long Island, ultimately settling on a New York State-owned parking lot next to the Belmont Park Racetrack. Aside from the new arena and accompanying amenities, the project will also require building a $105 million, two-way Long Island Rail Road station, which the MTA approved funding for earlier in January.
Work on the Populous-designed arena, which will seat 19,000, has been well underway after breaking ground in September of last year. Once complete, the Belmont Park development is also expected to bring offices, a 315,000-square-foot retail “village,” and a 250-room hotel to the site.
With the news that financial services giant UBS has signed on for the arena’s naming rights, UBS Arena at Belmont Park is on track to open for the 2021-22 National Hockey League season, as well as 150 off-season events throughout the year. When in use by the Islanders, the arena will hold 17,000 seats, but when used as a concert venue, will seat the full 19,000.
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The project is expected to generate 10,000 construction jobs, 3,000 permanent jobs, and up to $25 billion in associated economic activity over the 20 years of UBS’s leasing agreement….
Note…
Local schools and Emergency Services providers will receive payments-in lieu of taxes for the 20 years also …The property is actually state property that does not pay property taxes to Nassau County or Floral Park LI….
top image…Courtesy UBS/Archpaper.Com
UBS Arena sounds like a perfect place for Trump to accept renomination.
(or maybe the IBS Arena)
The arena is just a giant erector set now…
Be side’s…
Trump tells the NY Post he’ll give the GOP Convention speech from the White House lawn….
The same lawn where the Bidens will have to throw his clothes out the window of the 2nd floor?
This will literally be the speech where an angry old man yells at liberals to get off his lawn.