Fully integrated development plan moves forward

August 15, 2007, Uniondale, NY - Challenged with reinventing some of the most strategic acreage on Long Island, 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 unveiled an unprecedented team of internationally respected environmental planners, architects, and engineers to create an integrated design for the multi-billion dollar Lighthouse project on the site of the current Nassau Veterans Memorial Coliseum.

Earlier this month, Development Design Group Inc. (“DDG”), was chosen to lead the refinement of the master plan for the project. Under the integrated team approach, experts from a broad spectrum of disciplines including The Spector Group, Freudenthal & Elkowitz Consulting Group, Nelson Pope & Voorhis, Eschbacher VHB, Barrett, Bonacci & Van Weele, P.C., Stadium Consultants International, and Walker Parking Consultants are joining the team. Through this coalition of experts, a comprehensive plan is being developed for presentation to the community, government and business leaders in the fall.

Mr. Wang observed, “We have been entrusted with the responsibility of creating and implementing a unified vision for the center of Nassau County. We’ve searched for the best talent available to make this plan a reality. The diverse experience of this elite team will bring a bright future to Nassau County and the Long Island region for generations to come.”

A dream team of experts

Scott Rechler, Chairman and CEO of RexCorp Realty stated, “We have gathered a dream team. Firms with national and international experience as well as local firms will provide the necessary talent to help bring this project to fruition. The talent will provide the skills and track record needed to reinvent this obsolete facility and underutilized site in a manner consistent with the environmental and economic needs of the 21st Century. With this team, the process will lead us through community input, public hearings and governmental review, with the end of that journey resulting in a new vibrant suburban center the region can take pride in.”

The team has already held a number of work sessions to begin the evolution process and address the concerns that have been raised since the initial proposal was unveiled two years ago. A significant amount of research and analysis has already begun including updated traffic counts of the surrounding area. Lighthouse Development Group seeks to introduce the revised plan to the public later this fall, continue the public dialogue and begin the official process. The team is also cognizant of the need to meet deadlines imposed by Nassau County for submitting an application to the Town of Hempstead.

As noted last month, Development Design Group Inc., DDG, is an internationally renowned planning, architecture and design company unique in its ability to deliver dynamic, extraordinary solutions throughout the world. With a strong history of providing expertise in many successful commercial endeavors the firm has won numerous awards for designs that work in the real world. DDG has been tasked with formulating the highest and best use for property, utilizing the team’s strongest asset: creative design.

The Spector Group, Long Island's leading master planner and architectural 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’s heritage. 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.

SCI is a multi-disciplinary consulting firm specializing in the financial and physical planning, development, implementation and project management of sports and entertainment facilities. SCI’s focus will be on the renovations to the Coliseum and the integration of the facility into the Master Plan. In the past decade, SCI and its parent company, Brisbin Brook Beynon Architects (BBB), have been involved in more than 100 sports-related projects internationally and have been responsible for the programming and design of major stadiums and arenas in North America, Europe and Asia.

Environment, Transportation and Technology

Freudenthal & Elkowitz Consulting Group is a multi-faceted environmental and planning firm that has worked with corporate Long Island and governmental agencies performing environmental analysis, site assessments, property development, planning, and related needs. The firm has broad experience in environmental and property development work. Although based on Long Island, the firm has performed work throughout New York and in neighboring states. Their expertise includes environmental assessments and impact statements; remediation management; municipal planning; water use analysis, visual impact analyses; noise abatement and solid waste studies.

Nelson Pope & Voorhis has been providing municipal, institutional, architectural and corporate clients innovative design expertise for land and infrastructure development for half a century. As a multi-disciplined civil engineering, surveying and environmental firm with over 100 technical employees, Nelson, Pope & Voorhis has a national reputation for creating unique solutions tailored to the unique environment of the region. Their environmental consulting firm also offers clients comprehensive civil, sanitary, transportation engineering and surveying integrated with environmental planning.

Eschbacher VHB, is part of the national firm of VHB, a 900 plus person company offering specialized transportation, land development and environmental services to public and private sector clients throughout the United States. Engineering News-Record has ranked VHB 84th of the top-500 design firms, and among the nation’s top-40 transportation firms. In addition, Eschbacher Engineering was recently named one of Long Island Business News’ Best Places to Work and reflects the caliber of expert available within the region to work on this kind of strategic development.

Walker Parking Consultants is the largest parking consulting firm in the nation. For 40 years, they have proposed innovative and integrated parking solutions now in use by corporations, hospitals and educational institutions, as well as major airport authorities, government agencies and municipalities.

The firm of Barrett, Bonacci & Van Weele (BB&V) provides comprehensive civil engineering, land surveying and planning services to a variety of municipalities and private concerns, continuing a long tradition started by predecessor firms dating back to 1927. The firm has expanded into the field of Geographic Information Systems (GIS) allowing the company to offer extensive services in site selection, database design and development & facilities management.

About the Lighthouse Development Group, LLC.

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 been designated the exclusive developer of the Coliseum site and has entered into a Development Plan Agreement with the County of Nassau. The partnership combines Charles Wang’s vision for the revitalization of the aging Coliseum property with RexCorp’s five decades of development experience.

The Lighthouse Project is the transformation of 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 exciting 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.

Media Contact:

For more information about the project visit www.thelighthouseli.com
Or call Paul Lancey at 516-501-6725.