Billionaire businessman Charles Wang and the real estate firm Reckson Associates have been named as developer for the Nassau Coliseum project Thursday.

Nassau County Executive Thomas Suozzi has endorsed the proposal by Wang and Reckson Associates for the $1.6 billion project to redevelop 77 acres surrounding the Coliseum. Wang owns the New York Islanders hockey team, which is based at the Coliseum. Wang and Reckson Associates beat out the Mets owner's pitch for the project.

The development of the Nassau hub includes an apartment tower, hotels and a stadium for a minor league baseball team. The Nassau County Legislature also has to approve the deal and then it goes to the Town of Hempstead for zoning.

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