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LIGHTHOUSE GETS THE NOD

Thursday, 03.16.2006 / 12:00 AM / News
New York Islanders
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LIGHTHOUSE GETS THE NOD
Lighthouse Development Group, a Joint Venture Between Reckson and Charles Wang, is Chosen by Nassau County for Redevelopment of the Nassau County Hub

Uniondale, NEW YORK, March 16, 2006 - today Nassau County Executive Tom Suozzi announced that he has selected The Lighthouse Development Group, LLC, a joint venture between Reckson (NYSE: RA), Long Island's largest owner, manager and developer of commercial properties and Charles Wang, owner of the New York Islanders (NHL) and NY Dragons (AFL), to redevelop the Nassau County Coliseum complex.

"We are very pleased with today's announcement.  We look forward to continue working with the County Executive and County Legislature, the Town of Hempstead and the surrounding community as we transform this aging and obsolete facility as part of the creation of a modern suburban center that everyone will be proud of," said Charles Wang, founder of the Lighthouse Development Group, LLC.

Scott Rechler, President and Chief Executive Officer of Reckson, added, "We have been given an opportunity by the County Executive to contribute to the economic future of the region.  It is a historic responsibility we do not take lightly and we intend to make good on the trust and confidence he has expressed in his decision to allow us to go forward."  Mr. Rechler continued, "We are extremely pleased with the outcome of this process.  The County ran a thorough and competitive RFP process which resulted in an enhanced proposal which clearly benefits the people of Nassau County."

For more information about the Lighthouse project, please visit www.lighthouseli.com.

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