The New York Islanders impending return to Long Island is more than good news for hockey fans. The Islanders new arena in Belmont Park will bring over 12,000 new construction jobs to the region.
The ‘Crown Jewel’ of a Long Island Resurgence
“With the state-of-the-art redevelopment of Belmont Park, we are adding a crown jewel to the economic resurgence on Long Island. The return of the Islanders is exciting for all fans, bringing the storied franchise back to its rightful home,” Governor Andrew Cuomo said after announcing the selection of the winning proposal. “The creation of this world-class entertainment destination will bring visitors from near and far, as we continue to transform the region and strengthen our economic momentum on Long Island.”
The $1 Billion Redevelopment of Belmont Park
New York Arena Partners, a joint venture of Sterling Equities, the Scott Malkin Group, Madison Square Garden and the Oak View Group, will lead the $1 billion redevelopment of Belmont Park. The plan features an 18,000-seat mixed-use sports arena, a 435,000-square-foot retail and entertainment complex, a new hotel and other community amenities. It is estimated that the project will create more than 12,000 construction jobs and over 3,100 permanent jobs.
“Nassau County is thrilled to welcome the Islanders back home this year, and thanks to the leadership of Governor Cuomo, the redevelopment of Belmont Park will create thousands of new jobs for our hard-working men and women,” Nassau County Executive Laura Curran said. “This is not only about hockey. It is about growing the tax base, creating jobs, improving the community and putting Nassau in the right direction.”
LIRR Upgrade a part of the Islanders New Arena Project
The construction of the Islanders new arena will be supported by the Governor’s $6.6 billion plan to bolster the Long Island Railroad with 100 capital projects, including the Main Line Third Track and 39 renovated stations. These upgrades aim to strengthen the region’s transportation infrastructure and contribute to economic growth. The project will also include the addition of access points to the Belmont LIRR platforms. The Long Island Railroad is developing a plan to modify service to accommodate commuters for sporting and special events at the new Elmont complex.
More Retail, Recreation and Dining Space for Long Islanders
The Islanders new arena is just one piece of a redevelopment plan for Belmont Park, the home of the famed horse racing venue. Inside these grounds, New York Area Partners plans to create a retail village with pedestrian boulevards and squares, lined with a collection of stores and boutiques. Guests will also have the opportunity to dine at sports bars and frequent a boutique movie theatre or intimate live performance venues.
Outdoor Space to be Redeveloped, too
On the existing Belmont Park grounds, nearly six acres of outdoor recreation space and up to 10,000 square feet of community space will be developed in consultation with the local community. The plan is to integrate a redeveloped landscape and recreation area into the surrounding Elmont neighborhood.
This may include a green corridor and bike paths along residential areas adjacent to the new facility as well as community events, classes and wellness activities. The Islanders new arena and the other amenities will also receive a parking upgrade designed to accommodate the increased traffic volume.
After the New York Islanders inked a 49-year lease in December, this new infrastructure project will likely bring jobs and economic development to Long Island for years to come.