Labor Unions in New York City Mark Progress at Freedom Plaza with Inaugural Community Consultation Committee Gathering
### Proposed Freedom Plaza to Transform Midtown Manhattan's East Side
A groundbreaking mixed-use development, Freedom Plaza, is set to reshape Midtown Manhattan's East Side. Valued at $11.1 billion, the project is a joint venture between Soloviev Group and Mohegan, promising a focus on community benefits and inclusive growth.
Spanning 6.3 acres from 38th to 41st Street east of First Avenue, Freedom Plaza will offer a variety of key components designed to enrich the local community.
#### Key Features:
- **Affordable Housing**: With nearly 1,100 new homes planned, more than half (513 units) will be affordable for working families, making a significant contribution to Manhattan's stock of affordable housing[1][2]. - **Open Green Space**: The project will feature approximately 5 acres of public open space, making Freedom Plaza unique among casino developments in the area[2]. - **Community Amenities**: The project includes a daycare center, a food market, and a museum dedicated to democracy, along with locally focused retail and dining options[1][2]. - **Hotels and Entertainment**: Two world-class hotels, one from Mohegan and the other from the owners of Banyan Tree hotels, will offer retail, dining, and entertainment options[2]. - **Casino Component**: The casino will occupy only about 10% of the project's footprint, ensuring a community-focused integrated resort rather than a Las Vegas-style casino[4].
#### Employment and Economic Impact:
- **Union Jobs**: The construction phase is expected to create 17,000 union jobs, bolstering the local employment base[1]. - **Broader Economic Impact**: The project is anticipated to support approximately 40,000 jobs across the broader economy, contributing significantly to New York City's economic growth[1].
#### Community Impact:
- **Community Reinvestment Fund**: A 501(c)(3) fund will be established, receiving 2% of annual gaming profits, projected to generate at least $200 million over twenty years. This fund will support local initiatives such as housing programs, workforce development, arts, culture, and youth services[2][4]. - **Community Engagement**: The project emphasises community-driven development, with ongoing engagement and collaboration with local stakeholders to ensure that the project aligns with community needs[1][2].
Freedom Plaza is positioned as a model of equitable urban development, prioritising affordability, community benefits, and sustainable employment opportunities. The project has received strong support from labor leaders representing New York City's working families[3].
With a commitment to environmental sustainability and social responsibility, the Soloviev Group, the main developer of Freedom Plaza, aims to create a development that reflects the community's priorities, including good union jobs, affordable housing, open green space, and long-term community investment[5].
The developers will also open ownership in the proposed gaming facility at Freedom Plaza to New York City residents, allowing individuals to share in the project's long-term economic success[6]. The presentation of the project was made at the initial meeting of the Community Advisory Committee (CAC), established to foster dialogue[7].
[1] https://www.freedomplaza.nyc/affordable-housing [2] https://www.freedomplaza.nyc/community-amenities [3] https://www.freedomplaza.nyc/statements-of-support [4] https://www.freedomplaza.nyc/casino-component [5] https://www.solovievgroup.com/ [6] https://www.freedomplaza.nyc/ownership-for-new-yorkers [7] https://www.freedomplaza.nyc/community-advisory-committee
- The casino component in Freedom Plaza, a mixed-use development, is not expected to dominate the project, as it will occupy only about 10% of the footprint, ensuring a community-focused integrated resort that also offers opportunities for investing in the gaming facility, allowing New York City residents to share in the project's long-term economic success.
- This $11.1 billion project, a joint venture between Soloviev Group and Mohegan, not only focuses on business ventures like hotels, entertainment, and a casino but also emphasizes community benefits, such as the establishment of a 501(c)(3) fund to support local initiatives, creating affordable housing, and providing open green space and community amenities, making Freedom Plaza unique among real-estate developments in the area.
