Dec. 20, 2017 - New York State announces a joint venture of Oak View Group, Sterling Project Development, and the New York Islanders to lead a redevelopment of Belmont Park.
The goal of the development is to create an internationally recognized mixed-use destination for sports, entertainment, retail and hospitality, including a new 18,000 seat arena (now UBS Arena at Belmont Park) for the New York Islanders.
"I think today is a great day because the franchise remains 1000% in New York," Islanders co-owner Jon Ledecky said during a ceremony at Belmont Park in 2017. "Our concern was finding a permanent home for the Islanders."