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Thursday, October 30, 2014
Cosmos’ pitch includes more than arena
(Page 2 of 2)

The plan also calls for a youth soccer field, a 175-room hotel, a 4.3-acre community park, nine restaurants and nearly 250,000 square feet of retail space, and would provide $2.5 million for new and refurbished soccer fields in Nassau County.

The Cosmos’ development team estimates that the $400 million project would create more than 500 construction jobs in addition to 3,000 permanent jobs, and that construction would generate $200 million in annual revenue. Cosmos Chief Operating Officer Erik Stover said that in addition to helping the community financially, one of the most important things about the project is that it would be privately funded, at no cost to taxpayers.

“It’s important that people understand that our stadium proposal is a mixed-use development which will have a beneficial economic impact all year round,” Stover said. “[The proposed park and fields] will help beautify the community and give people places to play and relax. We also think this development will help promote and improve Belmont racetrack as a sports-entertainment destination.”

The Cosmos’ proposal was submitted to the Empire State Development Corporation on Jan. 11, and is awaiting approval. Construction could begin in 2014, retail establishments would open in the autumn of 2015 and the stadium would open in the spring of 2016.

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