News: Long Island

CIBS endorses mixed-use vision for town of Hempstead's Mitchel Field

Recognizing Long Island's critical need for the economic and physical redevelopment of central Nassau, The Commercial Industrial Brokers Society (CIBS) of Long Island has endorsed the town's vision of a mixed-use/best-use plan for Mitchel Field, calling on Nassau County to partner with the town and other stakeholders in the interest of accomplishing what's best for Long Island. Hempstead's rezoning program would revitalize the 77-acre heart of the former air field by fostering redevelopment of the Veterans Memorial Coliseum while encouraging a broad range of amenities and services, including housing, office space, retail, conference center, high-tech research and development facilities, healthcare and nursing, transit options, walkable plazas and complete streets, recreation and cultural spaces. While the town controls zoning, the county owns the land and approves development plans on it. Noting that Nassau County is currently receiving expressions of interest from potential Mitchel Field developers, CIBS called on county executive Edward Mangano to reach out to the town, the business community and all stakeholders before final plan and developer selections are made. "The redevelopment of Mitchel Field has been an open item on the region's agenda for literally decades, and there is no question in our mind that creating a true economic-development stimulus in the center of Nassau County is mission critical to the 21st century," said David Pennetta, president of CIBS. "Focusing our attention primarily on a hockey arena is like planting a tree when we need a grove. The plan that's ultimately chosen needs to address the multiple economic, housing, transportation and other issues that face Long Island today in a way that produces the greatest good for the greatest number."
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Columns and Thought Leadership
The evolving relationship of environmental  consultants and the lending community - by Chuck Merritt

The evolving relationship of environmental consultants and the lending community - by Chuck Merritt

When Environmental Site Assessments (ESA) were first part of commercial real estate risk management, it was the lenders driving this requirement. When a borrower wanted a loan on a property, banks would utilize a list of “Approved Consultants” to order the report on both refinances and purchases.