Manhattan Casino Dreams Go Up in Smoke
Two proposed Manhattan casinos, one in Times Square and another near Hudson Yards, have been rejected in initial votes. This marks a significant setback for developers who had promised substantial job creation and community benefits.
Times Square's Casino Gamble Falls Flat
The Caesars Palace Times Square proposal, backed by Jay-Z's Roc Nation, Live Nation, Caesars Entertainment, and SL Green Realty, was voted down 4-2 by its Community Advisory Committee. The Broadway theater industry strongly opposed the project, voicing concerns about its impact on the neighborhood.
SL Green Realty chairman Marc Holliday expressed outrage at the decision, highlighting the projected $5.4 billion investment and 3,800 jobs that would have been created. Opponents, however, celebrated the victory, emphasizing the importance of preserving the community's character.
"This wasn’t just a win for us, it was a win for the entire community," said LaChanze, an actress and theater producer.
Hudson Yards' Avenir Meets Similar Fate
The Avenir, a proposed $7 billion development near the Javits Center, also faced rejection. Despite promising 4,000 full-time and 1,000 part-time jobs, and close to $100 million of funding to the MTA, the project was defeated by a similar margin.
Dino Fusco, chief operating officer of Silverstein Properties, expressed disappointment, citing a last-minute request for amendments just before the vote.
What's Next for Downstate Casinos?
With the rejection of these two Manhattan proposals, six others remain in contention for up to three available casino licenses. These include projects in Coney Island, near Citi Field, and Throggs Neck, among others. The final decision is expected by the end of the year.
The defeated Manhattan projects highlight the complex interplay between economic development, community concerns, and political considerations in the process of selecting new casino locations in New York City.
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