Early August, the state of New York signed on the dotted line to approve the proposed Belmont Arena project, which could construct a stadium and more, to be the new home for the New York Islanders hockey team. The franchise, without a home for nearly a decade, should have a permanent residence when the $1.3 billion project finishes up in 2021, much to the delight of locals and fans.
What Is Still to Come Before Ground Is Broken?
With state approval out of the way, it’s not quite time to break out the shovels and bulldozers. This is just the first, very important step, so as yet there is no definite start date. Future steps include:
- An environmental impact survey will hopefully put local worries to rest about how the project will affect the surrounding area as it’s being built and once it’s completed.
- The project needs approval by the Franchise Oversight Board.
- Any further objections and potential lawsuits will need to be addressed.
All of these will need to come to pass before a groundbreaking ceremony.
How Is the Belmont Arena Likely to Change the Area?
This new development will unfold over the 43 acres of vacant, government-owned Belmont Park. Behind the project are several groups: team owners New York Arena Partners,Oak View Group, and Sterling Project Development. The finished product is to include:
- The Arena. With the capacity for 19,000 people, this will be the new home of the New York Islanders. Where once they shared games between Barclays Center and the Coliseum, they will have an established place with room enough for all their fans during home games, at true home games.
- The Hotel Space. Alongside a bustling arena, there will also be a projected 250-room hotel to house teams and visitors to the area.
- The Commercial Space. The finished project will include 350,000 square feet of retail, restaurant, and parking space, helping to transform the area into a full entertainment complex further.
In all, the project is predicted to create around 3,500 jobs, according to developers, who also promise at least 30 percent of those will go to locals within a 4-mile radius.