By Jason Schott – BrooklynFans.com Reporter / Assignment Editor – @JESchott19
Forest City Ratner, the developer of Barclays Center, won the bidding to renovate Nassau Veterans Memorial Coliseum and beat out Madison Square Garden in the process.
Nassau County Executive Ed Mangano announced on Thursday that he chose a unit of Forest City Ratner, Nassau Events Center, LLC, to oversee the $229 million renovation of the Nassau Coliseum. Forest City Ratner will pay Nassau County a minimum of $195 million over the next 34 years, more than Madison Square Garden would have paid in their offer.
Bruce Ratner, Executive Chairman of Forest City Ratner Companies (pictured above), said in a statement, “We are grateful to be selected to revitalize Nassau Veterans Memorial Coliseum. I would like to thank Nassau County Executive Ed Mangano and his team for a transparent and well-managed process. We understand and proudly accept the tremendous responsibility that accompanies this project and the impact it has on future generations of Long Islanders.”
Ratner continued, “We are ready to get to work to deliver a world-class Coliseum and a thriving sports, entertainment and retail center that Long Island deserves. Our partnership group is focused and prepared to bring the best to Nassau and to fulfill the County’s goal of vital job growth and significant economic activity.”
Mangano said in a statement, “Today, I announce the proposer who provided the best opportunity for Nassau County residents; one that will create jobs and oppportunities, one that generates the greatest revenue for the county and completely relieves the county of costly capital expenditures.”
It was not lost on Ratner how important this was by the fact that they had competition from Manhattan. “By having the Madison Square Garden Company compete with us on this development demonstrates the significance of this project and both of our companies’ commitment to Long Island. We are honored to be chosen to deliver a vibrant attraction for Nassau like never before.”