Hunton Andrews Kurth Represents Empire State Development as Legal Counsel for Redevelopment of Belmont Park

Hunton Andrews Kurth LLP is representing Empire State Development, the chief economic development agency of the State of New York, in a $1.3 billion redevelopment of Belmont Park into a sports and entertainment destination in New York.

The new 350,000-square foot retail and entertainment complex in Elmont, New York, will be the home of a 19,000-seat arena for the New York Islanders National Hockey League franchise and a 250-room hotel, in addition to other entertainment, dining, retail, hotel and commercial office spaces. Final approval from the State of New York was obtained in August and the 49-year lease and development agreement between the State and the developer New York Belmont Partners, LLC (a joint venture among the New York Islanders, Sterling Equities and the Oak View Group) was executed this fall after 12 months of negotiations.

Construction for the project began with an official groundbreaking ceremony in September; developers expect the arena to cost over $900 million and take approximately 26 months to complete, with the Islanders anticipating playing in the new arena for their 2021-22 NHL season.

One important consideration to moving forward with the development of Belmont Park was the expansion of the Long Island Rail Road (LIRR) with a new station in Elmont that will make getting to and from the new complex easier for Islanders fans, concertgoers and shoppers.

The redeveloped Belmont Park is expected to serve as an internationally recognized destination for sports, entertainment, retail and hospitality and is also expected to strengthen the local economy and boost tourism.

The Hunton Andrews Kurth team was led by Mark Arnold, co-leader of the firm’s P3 practice, and included partner Matthew Scoville, Carl Schwartz, co-chair of the firm’s global real estate practice, as well as senior attorney Ryan Pedraza, associates Douglas Hoffmann, Michal Baum and Johann Pavri, and Law Clerk Sarah Eskreis.