As state gaming regulators look to announce three New York City casino licenses by the end of the year, companies continue fine-tuning their bids.
Two are expected to go to existing “racinos” in the greater New York City area, and one will go to a new property in one of the five boroughs. Several companies are jockeying for a potential license, and with time winding down, many have had significant changes in their path to licensure.
Citi Field Project May Include Housing Complex
The developers behind the Metropolitan Park casino project, located around the Mets’ Citi Field stadium, have announced they will also develop a 450-unit affordable housing complex nearby. The project would include $163 million in grants to area organizations and nonprofits.
Metropolitan Park is a joint venture between the Mets owner, Steve Cohen, and Hard Rock International.
“Hard Rock and our partners are dedicated to enhancing the lives of residents in Queens through thoughtful development that integrates community needs,” Hard Rock Chairman Jim Allen said.
The project would feature a casino, 25-acre public park, shopping, restaurants, bike paths, and more. The city recently approved a zoning change for a 50-acre parking lot so that the casino could possibly move forward. Sen. John Liu also recently backed the project.
Obstacles Arise For Wynn’s NYC Effort
While things seem to be progressing positively for that project, another plan is facing some obstacles. City comptroller and mayoral candidate Brad Lander is urging Related Companies and Wynn Resorts to end their effort at a casino in the Hudson Yards area of Manhattan.
Plans call for a $12 billion, 80-story tower with a casino and hotel that would also include office space, a 5.6-acre park, and residential units. Lander told the New York Daily News that the plan would disrupt the High Line area, a 1.5-mile elevated green belt located in the old train yards. He is also disappointed that the developers reduced the number of housing units from 5,700 to 1,500, with only 324 of those considered “affordable housing.”
“The proposal to rezone Hudson Yards would undermine one of New York’s greatest urban transformation stories of recent years — and, even worse, dramatically decrease the amount of housing that was agreed upon there, amidst a grave housing affordability crisis,” Lander said. “I call on the developer to withdraw their current proposal, and to work with the community on one that delivers more housing and access to open space, not less.”
Additionally, residents opposed the plan by protesting the rezoning necessary for the project.
In response, a Wynn representative said the plan dropped only luxury apartments priced at $4,000 per square foot, and the developers have worked with local groups to address High Line concerns. That includes altering the tower’s design for unobstructed promenade views.
“This is an economically viable plan that builds on the success of Hudson Yards — which the comptroller has previously acknowledged — and creates more than 1,500 new homes in our city, including maintaining the entirety of the original affordable housing commitment,” the spokesperson said. “We will continue to work with local leaders to improve the plan.”
Mohegan Puts Main Focus On NYC
The Mohegan Tribe is also part of a potential project with the Soloviev Group that would sit on six acres of vacant land near the United Nations. Known as Freedom Plaza, the plan would include a casino along with a five-acre public park, 1.2 miles of accessible pathways, a children’s play area, an amphitheater, scenic overlooks, and more.
In February, the tribe lost operational control of Inspire, the $1.7 billion casino resort that opened last year in South Korea. Bain Capital financed the project with $275 million and has taken control of the casino after Mohegan reportedly breached loan agreements.
According to The Day, a local newspaper in southeastern Connecticut, the company is still negotiating with Bain to reclaim full property operations and is also focused on its New York bid. The state has set a June 27 deadline for casino license applications.
“In the U.S., we are very excited to be partnering with the Soloviev Group to bring Freedom Plaza to life in New York,” Mohegan director of public relations Cody Chapman said in a press release. “We are pleased to have recently secured the support of a coalition of 26 labor organizations and workforce development partners, which is a major milestone for our differentiated vision for this project.”
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