Nassau Hub Innovation District: Transforming the Nassau Hub Biotech Park into a Competitive, 21 st Century Innovation District.

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1 Nassau Hub Innovation District: Transforming the Nassau Hub Biotech Park into a Competitive, 21 st Century Innovation District August 2017

2 Executive Summary

3 The redevelopment of the Nassau Coliseum is an exciting first step in transforming the Coliseum area into a biotech hub. Nassau County s proposal to transform the Coliseum site into a biotech park is a first step to attract well-paying knowledge industry jobs, grow the biotech and high tech industries, and redevelop an underutilized site. The plan leverages the presence of the County s academic, medical, and research institutions while building on top of Forest City Ratner s (FCRC) redevelopment activities underway. However, as currently envisioned, the Plan lacks the key components to transform the site into a truly competitive, 21 st century innovation district. Without mixed use development and amenities, walkable streets, and robust transit service, the Biotech Park Plan mirrors the outdated mix of uses and density of Long Island s 20 th century office parks. The Biotech Park s development proposal is insufficient to foster the growth of the biotech sector and generate the needed workers, residents, and visitors to support a thriving innovation district. The Plan lacks the critical mass, appropriate mix of uses, and transportation improvements needed to create a competitive district that attracts talented workers and businesses, and generates the greatest economic impact for the County and the region. HR&A Advisors, Inc. Nassau Hub Innovation District 3

4 The Nassau Hub Biotech Park Plan combines Forest City Ratner s Phase 1 plan with future phases of development resulting in the creation of 3.3 M SF at total build out. Nassau Hub Biotech Park Plan Category Existing + FCRC Phase 1 Future Phases Total Build Out Retail / Recreation 268 K 377 K 645 K Hospitality 573 K 1.2 M 1.7 M Arena 416 K K Multifamily Office / R&D / Flex K 425 K TOTAL 1.3 M 2.0 M 3.3 M Parking Spaces (estimated) 5,500 1,100 6,600 HR&A Advisors, Inc. Nassau Hub Innovation District 4

5 The Plan comes during a period of significant investment on Long Island. Source: ESRI Business Analyst Online East Side Access Northwell Hospital Cold Spring Harbor Labs Hofstra University Nassau Hub Route 110 BRT Stony Brook University Ronkonkoma Hub LI MacArthur Airport Brookhaven Labs The State and Long Island Counties are advancing the planning and development of major, game-changing infrastructure. At the same time, ambitious public-private proposals to expand or create research and tech institutions are leveraging the talent and resources of major universities and hospitals. HR&A Advisors, Inc. Nassau Hub Innovation District 5

6 Once the exclusive domain of suburban office parks, research and development is now increasingly occurring in mixed-use, walkable, and transit-rich innovation districts. In the 1950s and 1960s, the life sciences industry was located in research parks and suburban corporate campuses. These research parks responded to the needs of post-war America which sought to separate economic activity from cities to newly-built suburbs. Research parks like Bell Labs and Research Triangle Park were conceived as campuses dedicated exclusively to the development and commercialization of scientific research. The research park concept is being replaced by the modern innovation district, where businesses and research activity is clustered in close proximity to a mix of land uses and transit options. Innovation districts are 24-7 areas where young, talented workers seek an amenity-rich, walkable mixed use neighborhood. Many research parks are now attempting to reposition themselves to compete with more urban innovation districts. Innovation districts around the country are competing to attract research institutions and companies (as well as their private capital and public research grants), recognizing that workers at these firms desire vibrant neighborhoods to live, work, and play. HR&A Advisors, Inc. Nassau Hub Innovation District 6

7 Innovation districts derive competitive advantages from an interrelated set of assets. BUSINESS WORK FORCE SUPPORT DEVELOPMENT LIVE/ WORK DIVERSITY OF JOBS WORK SPACES ACADEMIC TALENT ANCHORS PIPELINE QUALITY OF OF LIFE LIFE OPEN SPACE ACCESS CIRCULATION CIRCULATION PUBLIC REALM DIGITAL CONNECTIVITY MIXED OF OF USES TRANSIT PUBLIC TOOLS IDENTITY PARTNERSHIPS VISION EVENTS & MARKETING TECH HUB DENSITY PEOPLE PEOPLE Talent Collaboration Collaboration PLACES PLACE Infrastructure Urban Realm Urban Realm PROGRAMS PROGRAM Partnerships Collaboration Brand Tools HR&A Advisors, Inc. Nassau Hub Innovation District 7

8 The current Plan lacks the critical mass, convenient transit options, appropriate mix of land uses, and amenities that contribute to the success of six leading innovation districts examined across the country. ST. LOUIS Cortex Innovation SEATTLE South Lake Union KITCHENER- WATERLOO Canada s Tech Triangle Lessons for the Biotech Park Plan: Developing new multifamily housing at the Coliseum site can address the region s supply gap and attract and retain young highly educated workers. EMERYVILLE Berkeley-Emeryville Bio CAMBRIDGE Kendall Square HOUSTON Texas Medical Center Public transit improvements would help create a pedestrian-friendly district, mitigating congestion and increasing accessibility. HR&A Advisors, Inc. Nassau Hub Innovation District 8

9 The Plan lacks the appropriate density and mix of uses that characterize successful, 21 st century innovation districts. 55% Office 33% Multifamily ST. LOUIS Cortex Innovation EMERYVILLE Berkeley-Emeryville Bio 7.0M SF 17.0M SF 13% Office 0% Multifamily NASSAU Biotech Park Plan 3.3M SF 7% Retail/Entertainment 5% Hospitality SEATTLE South Lake Union 32.3M SF CAMBRIDGE Kendall Square 19.3M SF 33% Retail/Entertainment 54% Hospitality HR&A Advisors, Inc. Nassau Hub Innovation District 9

10 The proposed Plan s 3.3M SF of development would be insufficient to foster the growth of the biotech sector and generate the needed workers, residents, and visitors to support a thriving innovation district. The Nassau Hub Innovation District Plan would increase the Biotech Park s proposed 3.3M SF of development to 7.1M SF, including 2.2M SF of new multifamily housing and an additional 3.4M SF of office, flex, and R&D space currently missing in the County s plan. NASSAU HUB INNOVATION DISTRICT HR&A Advisors, Inc. Nassau Hub Innovation District 10

11 The lack of robust transit, wide roadways, and auto-oriented planning results in poor connectivity in the Nassau Hub area. The Innovation District Plan would improve public transportation in the Hub area by creating a new Bus Rapid Transit service, the Hubway, which would connect the Coliseum site to the Mineola LIRR Station by transforming unused LIRR rights-of-way into a dedicated busway. The Plan would also enhance existing NICE bus service through low-cost modifications to routing and schedules. HR&A Advisors, Inc. Nassau Hub Innovation District 11

12 The Nassau Hub Innovation District Plan can be achieved by investing in the Hub area s infrastructure, developing a sound governance and financing plan, and amending Town regulations to allow more density. Infrastructure Explore improvements to existing NICE bus service. Conduct feasibility study to explore transit service along the Mineola Spur and the Secondary. Enhance pedestrian and bike access with streetscape improvements. Develop transportation demand management measures. Governance & Financing Gather key stakeholders and representatives to initiate planning and governance for the Hub. Establish a board of directors and umbrella organization with a mandate to govern the innovation hub and seek funding. Create a brand for the Hub area that draws new investment and builds an identity for the Innovation District. Develop a plan that will generate ongoing private and public funding and support. Regulatory Process Amend zoning to accommodate multifamily housing and increased density. Revise the proposed mix of uses to increase residential and office development. Modify parking requirements. HR&A Advisors, Inc. Nassau Hub Innovation District 12

13 Successful innovation districts span a larger geographic area than the Hub site. The Nassau Hub Innovation District Plan has the potential to spur additional development outside the 77-acre site boundaries. ST. LOUIS Cortex Innovation SEATTLE South Lake Union CAMBRIDGE Kendall Square EMERYVILLE Berkeley-Emeryville Bio NASSAU HUB Innovation District 200 acres 230 acres 280 acres 740 acres 77 acres St. Louis Seattle Cambridge Emeryville Nassau Hub Innovation District HR&A Advisors, Inc. Nassau Hub Innovation District 13

14 Leveraging these investments, the Nassau Hub Innovation District can generate $3.4B in economic activity to the State, over 14K new jobs at average annual earnings of $65K, and $47M in tax revenue to the County. The Nassau Hub Innovation District Plan would create more jobs, generate more Statewide economic activity, and add more County tax revenue than the Biotech Park Plan. And like many successful innovation districts across the country, the Innovation District program would catalyze additional development beyond the Coliseum site, into the broader Hub area. Investments in public transportation, regulatory changes to allow more density, and regional coordination have the catalytic and transformative power to spur the long-term success of the Nassau Hub Innovation District and reshape the Hub area. 14,300 9,100 More Jobs Created $3.4 B $2.4 B Additional Economic Impact on NY State $30 M $21 M Additional Sales Tax Revenue to Nassau County $47 M $29 M Additional Property Tax Revenue for Nassau County, Hempstead and Uniondale Schools HR&A Advisors, Inc. Nassau Hub Innovation District 14

15 Collectively, these actions would transform an area with outdated land uses, poor transportation connectivity, and underutilized and disconnected parcels into a job-producing 21 st century innovation district. Nassau Hub Biotech Park Plan Nassau Hub Innovation District Plan HR&A Advisors, Inc. Nassau Hub Innovation District 15

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