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New York Gov. Andrew Cuomo, NHL Commissioner Gary Bettman and other local leaders were on hand on Monday, Sept. 23 to break ground at Belmont Park, the $1.3 billion future home of the New York Islanders.
According to officials, “announced in December 2017, the Belmont Redevelopment Project will turn 43 acres of underutilized parking lots at Belmont Park into a premier sports and hospitality destination, including a new 19,000-seat arena for the New York Islanders hockey team and other events, a 250-key hotel, a state-of-the-art retail village and office and community space.”
Developers have also planned a new Long Island Rail Road station at Belmont Park as part of their proposal.
The new arena, hotel, and retail village will generate nearly $50 million in new public revenue per year and produce $725 million in annual economic output. It is scheduled to be completed in time for the 2021-2022 hockey season.
The Islanders have also agreed to play 28 regular season games at the Nassau Coliseum next season, seven more than had been initially planned.
"The Islanders belong on Long Island - and today we start building the state-of-the-art home this team and their fans deserve while generating thousands of jobs and billions in economic activity for the region's economy," Cuomo said.
"With seven more Islanders games at the Coliseum this season, fans will have even more opportunities to see their favorite team and generate momentum for the move to their new home in two years. At the end of the day this project is about building on two great Long Island traditions - Belmont Park and the Islanders - and making them greater than ever."
Construction at the site is expected to create approximately 10,000 jobs and generate $2.7 billion in economic activity. By 2024, the project should lead to 3,200 full-time jobs.
Empire State Development Acting Commissioner and President & CEO Eric Gertler said, "We are proud of the great benefits this project will bring to Long Island - from jobs and new tax revenue to a permanent home for the Islanders - and are excited to break ground today. This project has gone through an open, robust collaborative process.”
“"Thanks to the commitment, dedication, and vision of Governor Cuomo, Islanders fans are getting the world-class home this team deserves,” Bettman said in a statement. “The Islanders belong on Long Island and the future is incredibly bright for this franchise."
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