As the competition to secure permission to build one of three potential casinos in the New York City area intensifies, Related Companies, the developer behind Hudson Yards, has filed plans for a $12 billion proposal to construct a casino complex over the train storage area west of Hudson Yards.
The project, if approved, would include three skyscrapers and over 5 acres of public open space, according to filings with the city’s Department of City Planning.
If Related manages to secure the requisite state gaming license, the firm hopes to develop the 13-acre site it owns above the MTA’s West Side Yard with a casino, hotel, offices, housing, public school and open space.
The casino development would be a $12 billion investment, pricier than Steve Cohen’s $8 billion dollar plan for a casino next to Citi Field in Queens.
“We are excited to continue engaging with stakeholders across the local community as part of the city land-use process for the undeveloped railyards,” Jon Weinstein, a spokesman for Related, said in a statement.
The proposal marks the latest move in a high-stakes race, as the state prepares to open up applications for three downstate casino licenses. Related was the first developer to publicly enter the casino race in 2022 with partner Wynn Resorts, but had largely kept details of its proposal under wraps until now.
The centerpiece of the project would be a 2.6 million-square-foot casino and 1,750-room hotel resort complex, featuring amenities, retail outlets, and conference spaces. The casino itself would occupy five stories of a podium, with an additional 80-story tower built above it.
In addition to the casino and hotel, the development would include residential and commercial spaces, as well as public amenities like a school and cultural institution. Construction would take around five years and would likely be complete around 2030.
However, for Related’s plans to materialize, the firm would need to secure both a state gaming license and a city rezoning request. The project faces competition from at least eight other development teams across the five boroughs vying for the coveted licenses.
Related is however not the only company seeking to bring a casino to Hell’s Kitchen and the West Side. Silverstein Properties — known for developing and managing neighborhood residences River Place and Silver Towers — announced last June its plan to develop a mixed-use hotel, casino and residential mega-complex at W41st Street and 11th Avenue. Their proposed project would occupy the 1.8 million-square-foot space which was previously a Mercedes Benz dealership.
Original article: https://www.yogonet.com/international/noticias/2024/02/23/70947-related-companies-unveils-new-details-of-12b-ny-casino-proposal-for-hudson-yards-area
