[Renderings by SHoP Architects]
Capping off a rough few weeks for Madison Square Garden CEO James Dolan, MSG Co. has lost its bid to redevelop the Nassau Coliseum. The team that beat him is his Brooklyn rival, the Barclays Center developers, led by Forest City Ratner and Nets owner Mikhail Prokhorov. This outcome is not particularly surprising considering that a) everybody just hates James Dolan so much, and b) passionate Strong Islanders weren't all that comfortable with the idea of the group that owns and operates the rival New York Rangers building the Islanders' new home.
The Barclays Center team are the proud new owners of a 34-year lease with a 15-year option to renew. They have tapped SHoP Architects, the guys behind the Barclays Center and the impending Domino development, for the $290 million project. SHoP's design will feature a Barclays Center-esque glass and steel sheathe. Most importantly, the project will be essentially free for taxpayers, as the winning team has agreed to finance the project themselves. They will also get to develop the 77 acres surrounding the arena.
· Barclays scores Nassau Coliseum revamp project [Crain's, via The Real Deal]