Nassau County Executive Ed Mangano will make another attempt to breath some life into the troubled Nassau Coliseum with a new development team and adviser for the arena that will be losing the New York Islanders.
Mangano is scheduled to announce his latest plans at a Tuesday press conference unveiling an “exciting new public-private-partnership” for the Nassau Coliseum and the surrounding prime real estate.
The announcement comes nearly a month after Islanders owner Charles Wang said he would move Long Island’s only professional sports team to Brooklyn’s Barclays Center in 2015, when his lease with the coliseum ends.
Wang had unsuccessfully tried to link a mixed-use development project to rebuilding the arena in an ambitious proposal dubbed The Lighthouse Project that he scrapped after Hempstead town only allowed zoning for a scaled-down version.
Voters later rejected referendum on Mangano’s proposal to borrow $400 million in taxpayer funds to reconstruct the coliseum and build a minor league baseball field at nearby Mitchel Field.
“We tried very hard to keep the Islanders in their original home in Nassau County,” Wang said at last month’s press conference announcing the team’s move to Brooklyn. “Unfortunately we were unable to achieve that dream.”
Wang, former founding CEO of Islandia-based computer software giant CA, Inc., maintained throughout the process that he was losing millions of dollars by keeping the team in Nassau. He has declined to say how much he’s lost over the years.
On the day the Islanders announced their move, Mangano hinted that he was nearing a deal with a developer to revitalize the Nassau Coliseum and surrounding area known as the Nassau Hub, which generates 70 percent of economic activity in the county.