The race for the three downstate casino licenses in New York is heating up.
In a significant development for Midtown Manhattan, the Soloviev Group, in collaboration with Mohegan, announced updated plans for the $11.1 billion Freedom Plaza project during the first meeting of the Community Advisory Committee (CAC). These plans promise to reshape the city’s East Side with an inclusive vision.
Freedom Plaza will feature nearly 1,100 new homes, with more than half of them being affordable for working families. It will also feature unique open green spaces, a food market, a daycare center, and a museum dedicated to democracy.
The project is one of eight competing for a casino license in the New York City area.
Key Figures Tout Freedom Plaza as a Commitment to the Community
The CAC meeting highlighted the developers' commitment to maintaining transparency and fostering ongoing collaboration with the local community. Michael Hershman, CEO of Soloviev Group, expressed satisfaction in sharing the thoughtful proposal with the committee, emphasizing priorities that align with community needs, such as union jobs, affordable housing, and sustainable urban spaces.
Key figures involved in the project, including Ray Pineault, CEO of Mohegan, and Martin Voelke from Bjarke Ingels Group, provided comprehensive briefings on the project’s scope. They spent time pointing out how Freedom Plaza will create 17,000 union jobs during its construction phase and will support approximately 40,000 jobs across the broader economy.
Broad Support from Labor Leaders
Support for the project extends beyond the developers themselves, with New York City's labor leaders voicing strong endorsements.
John Santos of SEIU 32BJ and Rich Maroko of The Hotel and Gaming Trades Council highlighted the project's potential to boost job quality and provide career pathways for New York’s workforce. Gary LaBarbera from the Building and Construction Trades Council noted the project’s promise in advancing opportunities for union workers.
The project also presents significant economic opportunities for local residents through potential ownership in the gaming facility and preferential investment access for eligible state and city pension funds. This initiative aims to ensure that the financial benefits remain within the local community.
A recent poll also revealed that nearly two-thirds of Manhattan voters are in favor of the project.
Establishment of a Community Reinvestment Fund
To further support community growth, the developers plan to establish an independent community reinvestment fund. This fund, governed by a local board, will receive a percentage of gaming profits, projected to generate substantial financial support for the community over the coming decades.
As the CAC process continues, Freedom Plaza could set a new standard for community-focused planning in New York City by introducing big changes to Midtown Manhattan, focusing on supporting the community in a fair and inclusive way.
From the affordable housing options to job creation and new green spaces, Freedom Plaza could serve as a modern example of urban development that will benefit New York City well into the future.
The proposals still in contention for one of the three available licenses include:
- Empire City (MGM, Yonkers)
- Resorts World (Queens)
- Caesars (Times Square)
- Bally’s (Bronx)
- The Coney (Coney Island)
- Metropolitan Park Project (Flushing)
Additional projects are in Brooklyn and other Manhattan neighborhoods. Two of the eight are "racino" expansions (Yonkers and Queens), which have long been seen as front-runners due to their established operations and local support.
A final decision is expected by the end of the year.
