There's a new proposal to develop the 77-acre Nassau Coliseum site on Long Island into a 5 million-square-foot biotech campus.
It's the latest idea for the 40-year-old sports arena. The New York Islanders are leaving it in 2015 for the new Barclays Center in Brooklyn.
The Wall Street Journal reports the new plan is the brainchild of Don Monti. He's a developer of hotels, shopping malls and office towers on Long Island.
His biotech campus would be linked to a 92-acre residential, retail and commercial development by light rail or a special bus route.
Monti estimates it would cost between $2 billion to $3 billion. His proposal could change following community feedback.
Monti still needs to negotiate a deal with Nassau, find an anchor tenant and secure financing.