Developers unveiled their $1.5 billion vision for the 72 acres surrounding the Nassau Coliseum known as the “Nassau Hub.”

Developers Scott Rechler and Brett Yormark unveiled new renderings of the project Tuesday to the Long Island Association. The plan calls for 500 units of housing, 600,000 square feet of office and biotech research space, 200,000 square feet of entertainment and retail space, and two pedestrian bridges.

It also calls for two new hotels.

For roughly two decades, redevelopment projects in the area failed to get off the ground, but the head of the LIA, Kevin Law, says this plan is the right one.

Law says the zoning is already in place and the state has committed the money to build two parking garages on the property. He also said that older plans included a refurbishment of the Nassau Coliseum – something that has already been taken care of.

The Nassau Legislature will hold a public hearing on an amended lease agreement on Nov. 27. A vote on the proposal will follow.

Depending on the outcome, Rechler and Yormark are hoping to break ground on the first phase of the project at the end of next year.

Courtesy: BSE Global