Rolled out last June, the plan also includes $250 million in community reinvestment to support businesses and groups in Midtown and nearby Hell’s Kitchen. Public comments stretched into the early hours of Tuesday morning, with some residents voicing strong objections and others supporting the economic potential of the project. Despite the discussion, any recommendation made Monday night will still require approval from the Irving City Council on Thursday. “In that community of that size, where are the people going to come from? And that again could change the dynamics of the community, but that’s true for every community.
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The Midtown East proposal, which would also involve the construction of a new development, is led by real estate billionaire Stefan Soloviev and the Mohegan Tribe. It calls for a 1,200-room hotel, about 1,300 apartments, and an underground casino—all to go up just south of the United Nations headquarters. Both Resorts World NYC and MGM Empire city are likely to have little community resistance, pundits say, and would be able to convert to a full casino relatively quickly. Furthermore, they have the infrastructure needed for expansion, with parking and access to highways.
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To a large extent, that corridor has been left behind on economic growth for quite some time and so they need it,” Hefner said. A recent economic development study shows that the investment in the Santee area would support the underdeveloped Orangeburg community. The study found it would generate over $75 million in annual tax revenue according to Santee Development Corporation.
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In January, local Community Board 13 recommended denial of the application, with residents skeptical that Thor Equities would come through with its promises of $200 million in community investment. On Wednesday, Bally’s Corporation announced a community benefits agreement for the project that pledges to provide more than $200 million in community investment. The gaming giant says the Bronx casino will also provide 15,000 construction jobs and more than 4,000 permanent jobs for local residents.
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Their role is to gauge the interest of the community and make a recommendation. At least four of the six committee members must approve of the plan for it to move forward. The Sands Corporation said even if all that happened, the project could still be five to seven years away. The vast majority of neighbors at the meeting were against any kind of resort and casino, and they made their voices heard.
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The city owns the property, and Trump’s company had a 20-year contract with the Parks Department to operate it as a golf course. According to Soloviev, the overall project is being dubbed “Freedom Plaza,” and it would also include the construction of a museum dedicated to democracy. The project, first reported by the New York Times, would not require major development and could be up and running within a year.
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The structure, dubbed “The Coney”, would feature a new hotel just steps from the iconic boardwalk. Thor Equities, a real estate investment firm, is partnering with Saratoga Casino Holdings and the Chickasaw Nation to build a casino in Coney Island. Bally’s, a large gaming company that operates in Atlantic City, is looking to develop a casino at Trump Golf Links in Throggs Neck. Cohen has held meetings, including two visioning sessions, with the public to solicit feedback as to what to incorporate in his plans.
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