Northwell Health is withdrawing its plan to move part of its Feinstein Institute for Medical Research to the Nassau Hub, a company spokesman said Wednesday, removing a key component from the Hub redevelopment project.
New Hyde Park-based Northwell had proposed expanding its research operation to land adjacent to the Nassau Coliseum in Uniondale three years ago.
The health system’s proposal forecast raising $300 million for the project, to be called the Center for Bioelectronic Medicine. The state subsequently earmarked $50 million for it.
“The Feinstein Institute already has a 170,000-square-foot facility in Manhasset with 550 people, and there is room to expand there,” said Terry Lynam, a spokesman for Northwell. “Expanding in Manhasset would be a lot less expensive than building a new facility.”
Northwell has already raised about $150 million for the expansion, Lynam said.
Feinstein plans to hire 56 employees for bioelectronic medical research over the next two years as part of its expansion in Manhasset, Lynam said. Feinstein has 2,000 employees across all its facilities.
Nassau County proposed in 2011 building a biotech park at the Hub. The Feinstein Institute subsequently made its proposal, which would have been a key part of the biotech park. The research facility was to be located atop one of two parking garages to be paid for by government.
Nassau County Executive Edward Mangano said he was undeterred in his plan to build an “innovation center” at the Hub. Mangano plans to issue a request for information for developers in the fields of health care, homeland security and technology.
“We are confident that this highly desirable property will provide for a transformative project that creates jobs and strengthens our economy,” Mangano said in a statement.
Kevin Law, co-vice chairman of the Long Island Regional Economic Development Council, which helps distribute state business aid, said, “The good news is the Feinstein Institute is” still going to expand. “The bad news is it won’t be at the Hub.”
Law, who is also president and CEO of the Long Island Association business group, said it was unclear if Feinstein could use the $50 million awarded for the Hub expansion to now expand in Manhasset.
Lynam said Northwell “will re-engage the state” about funding after the state budget is approved.
Law said there is state money available to attract a tenant to take Feinstein’s place.
With James T. Madore and Robert Brodsky