So much for all that Nassau Hub development (New York, Hempstead: fit in, real estate)
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Which is what many have suspected. The place just cannot attract large business tenants especially with so much empty office space lying around. And it won't help once all that additional real estate in Manhattan comes to market over the next decade. So much for working in LI.
It won't make a difference whoever they commission to study the hub. I don't think Ratner is lying when he said that there is a lot of vacant offices on LI. They will all arrive at similar conclusions. Too much empty office space, too much competition for tenants from NYC.
There was a lot of hubbub in the recent past about using some of the space for Hofstra University Medical School and the North Shore-Long Island Jewish Health System, however this does not fit in with the theme of Ratner's proposal at all, so that would have split the development into two things, and probably if they wanted to do this, they should have not chosen Ratner at all.
However doing that have could aided the development of a biotech cluster. However, Ratner said it was "too hard" to do when asked about it. Considering it is not his area of expertise, it seems he did not want to even bother with any of it. No surprise to me.
Am I missing something? When did anyone propose offices at the site? All the RFP's were for an arena upgrade, parking, entertainment and retail. High tech and business incubation was for whatever worthless sliver of developable property was left after the mall, skating and bowling and even then was just BS to appease the arena holdouts.
There was a lot of hubbub in the recent past about using some of the space for Hofstra University Medical School and the North Shore-Long Island Jewish Health System, however this does not fit in with the theme of Ratner's proposal at all, so that would have split the development into two things, and probably if they wanted to do this, they should have not chosen Ratner at all.
However doing that have could aided the development of a biotech cluster. However, Ratner said it was "too hard" to do when asked about it. Considering it is not his area of expertise, it seems he did not want to even bother with any of it. No surprise to me.
No surprise to me either. After all, he has every right to pursue whatever he feels is most profitable at the site. My issue is with the county.
However doing that have could aided the development of a biotech cluster. However, Ratner said it was "too hard" to do when asked about it. Considering it is not his area of expertise, it seems he did not want to even bother with any of it. No surprise to me.
I agree with him it is too hard to do on Nassau. You would need not only lots of top notch and commercially ambitious scientist-entrepreneurs, but also a huge amount of government incentives and access to capital markets. Rochester has been trying for years but its biotech startups eventually leave for NYC or Boston where they can scale up and go public plus get some form of subsidies.
NYC has entered the picture so the field is getting crowded:
If Nassau tries to do biotech, it will be getting into a game where it will be at a disadvantage. And even if Nassau does decide to get into biotech, it will take many many years to put all the pieces together. Meanwhile people need jobs now.
Now Ratner has stated what cannot be done and he is right. What he did not state is what can be done, apart from sports and entertainment and all the $9-$15/hour jobs it will create. That's something country officials will have to think really hard of.
I agree with him it is too hard to do on Nassau. You would need not only lots of top notch and commercially ambitious scientist-entrepreneurs, but also a huge amount of government incentives and access to capital markets. Rochester has been trying for years but its biotech startups eventually leave for NYC or Boston where they can scale up and go public plus get some form of subsidies.
NYC has entered the picture so the field is getting crowded:
If Nassau tries to do biotech, it will be getting into a game where it will be at a disadvantage.
Especially when the land at question is located within the borders of the notoriously non-progressive, obstructionist Town of Hempstead ... the entity that killed the original Lighthouse plan for the site. Then anything new has no chance.
Especially when the land at question is located within the borders of the notoriously non-progressive, obstructionist Town of Hempstead ... the entity that killed the original Lighthouse plan for the site. Then anything new has no chance.
Biotech?!?! This is ToH. We'll be lucky to get an Applebees!
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