The Nassau Hub: CIBS' dual-zone plan for economic development

Forty years ago, the Nassau County Memorial Coliseum opened on the edge of Mitchel Field. The new arena, squatting in a corner of the 77 acre former air force base, offered a full schedule of basketball games featuring the New York Nets; pop music concerts, circuses, and more; on the lower level, meeting and event planners booked space for national conferences and expositions. To meet anticipated need, a major hotel opened its doors. Crisscrossed by east-west and north-south thoroughfares, Mitchel Field was buffered from residential zones yet accessible to the island's population center. Called The Hub in light of its huge economic potential, the potential of what was the largest undeveloped parcel in Nassau County seemed limitless. Four decades later, Mitchel Field remains the largest undeveloped parcel in Nassau County. The Nets moved out, hockey's Islanders moved in. First-time visitors see the desolation and wonder aloud if a professional sports team truly calls the place home. Maybe not; the Islanders ownership won't commit to staying after their lease ends July 2014. Long Island's broker community wants to see conditions improve in Mitchel Field, with its vast potential for development and economic growth. As Nassau County is currently considering the qualifications of potential master planners to redevelop this key acreage, CIBS offers our dual-zone plan for Hub revitalization. Economic Development: A Dual-Zone Approach Designate Mitchel Field as two economic development zones. Zone #1 is the Coliseum. Let the Islanders continue playing there. Keep the schedule intact. Just don't spend more money trying to fix this white elephant. The management lease that ends July 2014 is among the most lop-sided deals in the stadium industry. No legitimate reason exists to renew it. Don't renew. Zone #2. The future of economic development on Long Island starts here. Based on town of Hempstead zoning, let's start planning now: offices, research & development space, healthcare facilities, retail, restaurant, housing of different varieties - all are pre-approved. Let's start planning. Power of the Market Long Island's developers thrive where they can build, lease and sell quality space to private customers. Let's minimize government use and directive, and maximize the power of the profit motive. Let developers be developers, not contract builders of government facilities. Encourage Start-Ups Let's delegate space specifically for entrepreneurs to start businesses from scratch; for mid-career professionals to launch new companies; and for bigger companies or institutions to nurture ideas into enterprises. Taxation is one reason companies leave Long Island, or avoid the region in the first place. Let's turn the new Mitchel Field into a haven for start-ups and growth companies by offering all interested tenants tax deferrals based on job-creation schedules. Companies that add jobs pay reduced taxes. Companies that fail to meet their job creation schedules have to pay back taxes, no exceptions. Note: Small and new companies create most jobs. Mixed Use Let's create lively, medium-density, pedestrian-friendly communities with shopping, restaurants, and recreation opportunities near housing. Long Island's brokers stand ready to help accelerate economic development any way we can. David Pennetta is president of CIBS/Commercial Industrial Brokers Society of Long Island, and chairs its Economic Development committee.