Lighthouse Development Group, LLC, a joint venture between Charles Wang, the Founder of the Lighthouse project and owner of the New York Islanders, and RXR, Long Island's largest owner, manager and developer of commercial real estate, has been designated the exclusive developer of the Coliseum site and has entered into a Development Plan Agreement with the County of Nassau. The partnership combines Charles Wang's vision for the revitalization of the aging Coliseum property with RXR's renowned expertise. The Lighthouse project is the transformation of the Nassau Veterans Memorial Coliseum site and surrounding area into a modern 24/7 suburban center. The centerpiece will be a revitalized arena for the New York Islanders, surrounded by exciting residential neighborhoods with a variety of housing options, lifestyle retail and entertainment venues, Class A office space including an incubator for the sports technology industry, multi-purpose athletic complex, state-of-the-art conference and exhibition facilities, a minor league ballpark, and the first 5-star hotel on Long Island. The estimated $3.74 billion project is expected to generate $71 million of annual tax revenues. An expected 75,000 construction and construction related jobs will be created over the 8-to-10 year build out of the project. Once completed, 19,000 thousand permanent jobs and many new businesses will provide the opportunities and careers Long Islanders need and want. A transformed coliseum will ensure the New York Islanders have a state-of-the-art home for decades to come. The Lighthouse at Long Island, in the backyard of America's first suburb, will create a destination for future generations of Long Islanders. twitter: http://twitter.com/Lighthouse_LI flickr: http://www.flickr.com/photos/lighthouse_li facebook group: http://www.facebook.com/group.php?gid=25169210278&ref=ts