Larry Silverstein, the seasoned property developer who rebuilt the World Trade Center, has made a big move to advance his plan for a casino and entertainment hub on Manhattan’s Far West Side.
Family-Owned Firms Unite for Major Manhattan Casino and Housing Development
Silverstein Properties has brought Rush Street Gaming, a respected casino operator, into the team behind “The Avenir.” This proposed project aims to build a 46-story multi-purpose complex with a casino, hotel, and homes.
The suggested site sits at 11th Avenue and 41st Street’s crossroads, covering about 92,000 square feet of undeveloped land. Silverstein Properties owns the entire plot and claims it is ready to build once they get the green light from regulators.
Silverstein stressed how local the partnership is, noting that Silverstein Properties, Rush Street Gaming, and Greenwood Gaming are all family-run businesses with deep roots in their communities, reported the New York Post. He mentioned his company has been part of the West Side scene for over 40 years and sees this project as a way to create jobs, bring in tax money, and provide affordable homes for both the city and state.
Rush Street Gaming, which owns the Rivers Casino brand in Schenectady and has projects in Pittsburgh and Philadelphia, showed excitement about joining Manhattan’s market. CEO Tim Drehkoff complimented Silverstein’s track record in city development and said his company looked forward to helping create what might be New York City’s first casino destination.
The Avenir Casino Project Promises 9,000 Jobs Amid Fierce NYC License Race
The Avenir project plans to create over 9,000 union jobs, 4,000 during building and more than 5,000 full-time positions after opening. The project aims to draw in tourists and locals and boost the area’s economy for years to come.
With New York set to grant three downstate casino licenses, competition is heating up with almost ten competitors, including major companies such as Caesars Entertainment, MGM Resorts, and Hard Rock International. Various companies have put forward bids for well-known spots like Hudson Yards, Times Square, Coney Island, and an area close to Citi Field in Queens.
Last week, the New York City Planning Commission gave the green light to the proposed Coney Island casino project. Groups need to submit their bids for these sought-after licenses by June 27. If chosen, The Avenir would be Manhattan’s first big casino, which could change how people have fun and visit the city.