Redevelopment
As of 2010, the Coliseum is the second-oldest arena in active use by a National Hockey League (NHL) team (after nearby Madison Square Garden), and was the smallest capacity of all arenas in the NHL until the Atlanta Thrashers became the Winnipeg Jets and began play in the MTS Centre that seats 15,015. The arena has been considered obsolete for many years, and various Islanders owners have been trying to replace the arena for over ten years. Team and county officials announced in 2004 a plan called The Lighthouse Project to renovate the Coliseum. The centerpiece of the project was a 60-story tower (since removed from the plans) designed to look like a lighthouse. Other plans include new housing (including affordable housing units), athletic facilities, a minor league baseball stadium, restaurants, and a hotel. The project would also add trees, water and other natural elements to the area. On August 14, 2007, Islanders owner Charles Wang and the Lighthouse Development Group partnered with Rexcorp to create a new plan, changing the overall project scale. The 60-story "lighthouse" evolved into two 31-story buildings connected with a footbridge at the top. The project as a whole has transformed from a simple renovation of the Coliseum property into a 150-acre (0.61 km2) transformation of surrounding properties. Plans call for more 2,000 residential units (20 percent affordable housing), a hotel, a convention center, a sports technology center, 500,000 square feet (46,000 m2) of retail space, and a sports complex adjacent to the renovated Coliseum. The overall project is slated to cost roughly $3.75 billion.
Construction was not planned to begin until at least mid-2009, and had not begun as of October 2011. Nassau County approved the entire Lighthouse Project in 2006 on a 16–2 vote, and the Draft Environmental Impact Statement was completed after a state-mandated environmental review. The Lighthouse Project then went before the Town of Hempstead for approval on a change in land zoning.
On August 1, 2011, voters in Nassau County rejected a proposal for a taxpayer-funded new arena to replace the Nassau Coliseum. On October 24, 2012, the Islanders announced the team would move to the Barclays Center in Brooklyn following the expiration of their lease after the 2014-2015 season. This move will leave the Coliseum without a permanent tenant after 2015, putting the future of the arena in doubt.
Read more about this topic: Nassau Veterans Memorial Coliseum