Long Island Construction Law does not own this content. This content was created by Sebastian Obando and was published to ConstructionDive on Jan 18th, 2023.
Las Vegas Sands plans to partner with trade schools, community colleges and local universities to offer a wide range of training programs and professional advancement opportunities for laborers on the project, according to the release.
Robert Goldstein, the company’s chairman and CEO, expects the project to generate thousands of union jobs in both construction and operations. He added the development will use “cutting-edge sustainable building and operating practices” and will seek guidance from Long Island’s environmental leaders on “its ambition to achieve LEED certification and its goal of being the greenest building on Long Island,” according to the release.
Other features of the planned site, which is currently home to the Nassau Veterans Memorial Coliseum, include:
- Restaurants.
- Ballrooms.
- Day spa.
- Swimming pool.
- Health club.
The company brought in former New York Gov. David A. Paterson in 2019 to assist with the development timeline, reported The Nevada Independent. He recently spoke in December at the joint meeting of the Nassau Council of Chambers of Commerce and the Suffolk County Alliance of Chambers to present the plan for the Long Island site, according to World Casino News. Paterson served as the 55th governor of New York from March 2008 to December 2010.
It is the latest attempt to revive the site of what was once a premier entertainment destination. In 2020, Nick Mastroianni II, founder and chairman of U.S. Immigration Fund, which facilitates foreign investment in U.S. real estate, took over as leaseholder of the Nassau Veterans Memorial Coliseum in an attempt to revive the aging arena, reported The Real Deal.
The venue that once served as the former home for the NHL’s New York Islanders, the NBA’s New York Nets and a marquee tour stop for A-List performers now hosts minor league basketball games and monster truck rallies.
Muted sector outlook
Construction starts for recreation projects, such as casinos and convention centers, will tick up just 1% in 2023 to $19 billion, according to Dodge Construction Network. The MSG Sphere, an entertainment project in Las Vegas, recently pushed its price tag up to $2.18 billion due to inflation and supply chain pressures.
That market also closely aligns with the beleaguered hotel sector. Hospitality projects still have a “long recovery ahead,” said Sarah Martin, Dodge senior economist.
Nevertheless, muted outlooks in both recreation and hotel aren’t dampening the company’s optimism around the development.
“[Las Vegas Sands’ track record] gives us a unique perspective on what it takes to develop transformative tourism destinations that positively impact the local community,” said Goldstein in the release. “Based on that experience, we strongly believe Long Island can be home to one of the region’s great entertainment and hospitality developments.”
John Caravella Esq., is a construction attorney and formerly practicing project architect at The Law Office of John Caravella, P.C., representing architects, engineers, contractors, subcontractors, and owners in all phases of contract preparation, litigation, and arbitration across New York and Florida. He also serves as an arbitrator to the American Arbitration Association Construction Industry Panel. Mr. Caravella can be reached by email: John@LIConstructionLaw.com or (516) 462-7051.
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Sebastian Obando is a reporter covering the construction industry for Construction Dive, based in Washington D.C. Prior to Construction Dive, Sebastian covered the commercial real estate industry for the National Real Estate Investor, based in New York City, as well as contributing to Forbes, covering personal investment topics. He has also appeared in Adweek, New York Post, Washington Post, among others, and interned with The Daily Caller in our nation’s capital. Sebastian is a graduate of the Philip Merrill College of Journalism at the University of Maryland.
