The following article about DestinationKP is was featured on Newsday on July 3rd, 2024:
$92M Kings Park youth sports facility developers to sell bonds for construction
Developers of a youth sports complex and medical office planned for Kings Park expect to raise nearly $70 million by selling bonds next month, and to open the playing fields in a year.
“We’re looking to close the bonds by August of this year and have [the sport facilities] built by August of next year,” said Kenneth R. Henderson, a co-owner of Prospect Sports Partners LLC, which is developing the $92 million project.
With the increased price tag and additional investor, the Suffolk County Industrial Development Agency had to reconsider its 2020 vote to provide tax breaks to the medical office. The aid package increased from $1.8 million over 15 years to $2.3 million, largely due to the higher cost of construction materials which upped the sales-tax exemption.
The agency's board voted unanimously last week to approve the new deal after listening to a presentation from Henderson, a former pitcher who played in the minor leagues for the Pittsburgh Pirates organization. He was joined by Daniel P. Deegan, a real estate attorney for Prospect Sports.
Henderson said the 50,000-square-foot medical office would focus on sports injuries and rehabilitation. The 100 physicians and other health care workers employed there would earn, on average, $137,350 per year.
“We’re looking to help with the actual treatment of the issues that happen throughout the process of youth development in sports,” Henderson told the IDA board.
He also said the adjacent indoor and outdoor athletic fields would draw more than 1 million people each year, which could be served by the medical center. The facility is located at 350 Old Northport Rd.
“This allows us to bring sports back to Long Island,” Henderson said, referring to travel-team tournaments and sports camps that take place off the Island. “We have tremendous players now and this is only going to drive our production of professional athletes and college athletes.”
The sports facilities will be operated by Agape Community Sports Services Inc. in San Antonio, Texas, which helps low-income youth participate in athletics.
Agape’s status as a nonprofit led the IDA’s sister agency, the Suffolk County Economic Development Corp., to authorize the issuance of $52 million in tax-exempt bonds and $17.5 million in taxable bonds for construction of the sports fields.
In return for the aid, Agape has promised to create 51 jobs within two years, with an average salary of $72,562 per year, according to EDC records.
Joshua Slaughter, a union official who sits on the boards of the IDA and EDC, noted that the construction workers who will build the sports complex will earn the prevailing wage, which equals the pay of unionized workers. “They’re going to make good enough money not only to live here but to thrive here,” he said.
Kelly Murphy, the IDA’s CEO and executive director, said youth sports are an important component of the tourism industry. Kids and their parents travel long distances for competitions, spending money on lodging, food and equipment.
“Any Long Island family who has children in competitive sports will tell you about the challenges and expense associated with traveling to out-of-state tournaments,” she said. Destination Kings Park “will keep the economic benefits of the complex’s numerous activities and offerings right here in Suffolk County.”
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