DDG and Spector tapped for mega Nassau Coliseum redevelopment.

Lighthouse Development Group, LLC, a joint venture between Long Island's largest owner, manager and developer of commercial real estate, RexCorp Realty, LLC and Charles Wang, owner of the New York Islanders and New York Dragons, has announced that they have selected the architecture and planning firms Development Design Group Inc. ("DDG") and The Spector Group to assist in refining the master plan of its multi-billion dollar redevelopment of the Nassau Veterans Memorial Coliseum site.

This will enable the Lighthouse Development Group to continue development of its comprehensive plan which it intends to present to the community, government and business leaders in the fall.

"I am very excited about our vision and plan to transform this 77-acre site from an aging and obsolete comforplex into a vibrant, state of the art suburban center, blending housing, office space, and retail stores, with sports, entertainment and tourism. This is a necessary investment in Long Island's future and the future of our children and generations to come," said Charles Wang.

"By gaining additional input from the community and adding the creativity and experience of DDG and The Spector Group, we will soon be presenting what will be the pillar of smart growth and a model for suburban redevelopment."

"The selection of DDG and the Spector Group gives the Lighthouse Project access to world-class talent and execution with a regional perspective," stated Scott Rechler, RexCorp's chief executive officer. "Successful suburban centers have been created in many similar regions around the country and as we plan for one on Long Island, we felt it was absolutely necessary to select firms with proven track records for creating distinctive, community enriching mixed use developments. DDG and The Spector Group each fit that bill."

DDG is an internationally renowned planning, architecture and design firm that has delivered dynamic and extraordinary solutions and provided superior expertise in many successful mixed use projects across the country, notably the Westgate City Center in Glendale, Arizona, Atlantic Station in Atlanta, Georgia, and Town Square in Las Vegas, Nevada. The firm's proven track record and sensitivity to the surrounding community is reinforced time and again with numerous awards for their work, including more than 75 national and international design awards over the past decade including prestigious awards from the International Real Estate Federation, the Urban Land Institute and the Pacific Coast Builders Conference.

The Spector Group, Long Island's leading master planner and architecture firm, will provide local insight to the Lighthouse development team and advise as to the character of the master plan to insure the project remains true to Long Island.

The firm has a rich tradition of designing some of Long Island's most recognizable projects, including RexCorp Plaza, Jericho Plaza, CA World Headquarters and the Downtown Riverhead Redevelopment Project.

Rechler added, "After a thorough RFP process, DDG and Spector were selected to help us complete the project. Also, there are many planning, design, and economic study groups already hard at work that will enable us to take the proper regulatory steps in this very deliberative process. We will take the time needed to achieve the highest level of coordination with our neighbors, the Town of Hempstead, the County Executive, the County Legislature and the State of New York."

The Lighthouse Project will transform the Nassau Veterans Memorial Coliseum site and surrounding area into a modern 24/7 suburban center.

The centerpiece will be a revitalized arena for the New York Islanders and New York Dragons, surrounded by residential neighborhoods, lifestyle retail and entertainment venues, a sports technology center, multi-purpose athletic complex, state-of-the-art conference and exhibition facilities, a baseball stadium, and the first 5-star hotel on Long Island.

The estimated $2 billion project is expected to generate almost $60 million of annual real estate tax revenue.

An expected 16,000 construction jobs, thousands of permanent jobs and many new businesses will be created. Overall, the Lighthouse Project will add more than $200 million of incremental revenue over the next 25 years to the County and the State from the renovation of the Coliseum alone and keep the New York Islanders on Long Island for decades to come.