Gaming would occupy 3.6% of space
Wynn, Related unveil $12 billion Hudson Yards casino plan details
Related Companies and Wynn Resorts have unveiled new details of their planned $12 billion casino complex in Manhattan’s Hudson Yards, as part of their joint proposal to secure one of New York State’s downstate casino licenses. The development, dubbed Wynn New York City, would feature an 80-story tower with a gaming facility, hotel, office spaces, residential apartments, and a 5.6-acre public park named Hudson Green.
The ambitious project would occupy the western portion of the Hudson Yards, adjacent to the High Line Park. Wynn New York City is being pitched as a key economic driver for the city, with proponents highlighting the jobs it is expected to create and the billions in revenue it could generate.
“The next phase of Hudson Yards is a $12 billion investment in New York’s future that, if approved by City and State officials, will create tens of thousands of jobs, 1,500 units of housing including hundreds of new affordable apartments, and billions in much-needed revenue for the City and State,” said Jeff Blau, CEO of Related Companies, in a statement.
The complex will feature a gaming facility that occupies only 3.6% of the total square footage but is expected to serve as the primary revenue generator. The proposal also includes 1,700 hotel rooms, street-level shops, restaurants, and a pool deck. The 5.6-acre Hudson Green Park, designed by Hollander Design and Sasaki, will be a central feature, offering gardens, a playground, a dog park, and views of the Hudson River.
"Finishing the undeveloped yards will not only create 35,000 unionized construction jobs during development but 5,000 permanent union careers in the resort, which is the economic engine that supports all of these wonderful community benefits, including affordable housing, a public park, and transportation improvements," said Bruce Beal Jr., President of Related Companies.
The proposal is one of several vying for up to three casino licenses that the state plans to issue in the downstate region. Competing bids include developments near CitiField, Times Square, and Coney Island. Final decisions are expected by the end of 2025, after a thorough review process that includes community input.
The state’s Gaming Commission has set a minimum $500 million upfront licensing fee for successful bidders. In addition to Related and Wynn’s bid, other competitors are addressing land-use challenges and facing community opposition.
While some residents welcome the development for its potential to attract visitors and boost the local economy, others have voiced concerns. Critics worry the casino could obstruct views and be too intrusive for the area. Students from the nearby Fashion Institute of Technology (FIT) have also expressed apprehensions about the potential negative influence of a casino on young people.
"It would not be a good influence for the students," FIT student Carolina Farais told CBS News, echoing the concerns of some of her peers. Another student, Gian Brack, added: "It wouldn’t necessarily be in the best interest of young people to encourage that kind of pastime.
"https://www.yogonet.com/international/news/2024/08/30/77074-wynn-related-unveil-12-billion-hudson-yards-casino-plan-details