Manhattan's West Side Casino Proposal Sweetened: Silverstein Announces 2,000 Additional Apartments
🗽 A Fresh Spin on Manhattan's Gambling Horizon 🗽
In the heart of New York City🧩 Commercial Casinos 🧩🏙️ Manhattan's West Side 🏙️🏢 Silverstein Properties 🏢👨💼 Aaron Ginsburg, 6sqft
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If you thought the Big Apple was all about business and Broadway, buckle up! Silverstein Properties is giving Manhattan's west side a serious makeover, and it ain't just about skyscrapers. They're eyeing a slice of the casino action, with a $7 billion bid that could turn the city's landscape upside down.
On a roll, they're partnering up with MetroLoft to develop more than 2,000 apartments as part of the package. To sweeten the deal, 500 of those homes will be permanently affordable, setting aside a comfortable space for our fellow New Yorkers. They're giving the green light on this exciting venture just a day before the deadline for casino proposals—talk about timing!
Their proposal, dubbed The Avenir, calls for a 1,000-room luxury hotel, restaurants galore, a food hall, and, of course, a gaming facility. But it's not just about lucky dice rolls; there's more to this Megaproject than meets the eye. Originally, the plan proposed a mere 100 affordable apartments to be tucked neatly off-site. But Silverstein is going all-in with their commitment to the community.
The Avenir promises to deliver 4,000 permanent unionized jobs in the hotel and casino sectors, fueling the city's economy with a major boost. Local businesses can also expect a taste of the action—better tourism and improved neighborhood safety are all part of the plan.
The partners are taking their cues from the local community, aligning with priorities for mixed-income housing. Their collaborative projects will address the housing shortage by providing homes for over 2,000 families. Now, that's a winning hand!
Remember, if this casino bid pans out, the city's first-ever downstate casino is on its way. The regulatory process is underway, with formal applications due on June 27, 2025. Local Community Advisory Commissions will have their say, followed by evaluations by the New York State Gaming Facility Location Board. The final verdict, along with the licenses, is expected by the end of 2025.
So, stay tuned, my friends, as Manhattan's west side prepares to roll the dice and enter a new era of development. Exciting times are ahead, and Silverstein Properties is all in! 🃏🚀
In this new era of development on Manhattan's west side, Silverstein Properties is making strategic moves by investing in the casino industry, with a proposal worth $7 billion that includes a gaming facility and a luxury hotel. This venture is expected to create 4,000 permanent unionized jobs in the hotel and casino sectors, injecting a significant boost into the city's economy.
In addition to the casino and hotel, Silverstein Properties is also committed to providing affordable housing as part of The Avenir project, setting aside 500 homes for New Yorkers, demonstrating their focus on finance and real-estate that caters to the local community.
