UNIONDALE, NY-Now that the two chief competitors for the right to redevelop the Nassau Coliseum filed their final plans on Friday, a selection by Nassau County Executive Ed Mangano on the winning bidder is expected any day.
The two finalists vying for the 63-acre site are a team led by Madison Square Garden Co., including James Dolan and RXR Realty Chairman and CEO Scott Rechler, and a squad headed by developer Bruce Ratner that also includes Brooklyn Nets owner Mikhail Prokhorov and entertainer Jay Z, according to Crain’s New York Business.
The winner will control the property for at least two decades. Two previous taxpayer-financed attempts to revamp the Coliseum failed and prompted the New York Islanders hockey team to abandon its home ice venue to the Barclays Center in Brooklyn for the 2014-2015 season. See story in Crain’s New York Business.