Manhattan’s Far West Side could soon be home to a groundbreaking casino and entertainment complex, as property developer Larry Silverstein advances his ambitious plans.
Key Takeaways:
- Silverstein Properties partners with Rush Street Gaming for ‘The Avenir’ project
- Proposed 46-story complex to include casino, hotel, and residential units
- Project aims to create over 9,000 union jobs and boost local economy
Family-Owned Firms Join Forces for Manhattan Casino Venture
Larry Silverstein, known for rebuilding the World Trade Center, has taken a significant step forward in his vision for a casino and entertainment hub on Manhattan’s Far West Side. Silverstein Properties has brought Rush Street Gaming, an established casino operator, into the fold for ‘The Avenir’ project.
The proposed development, situated at the intersection of 11th Avenue and 41st Street, encompasses approximately 92,000 square feet of undeveloped land. Silverstein Properties owns the entire plot and states readiness to commence construction upon regulatory approval.
Local Roots and Community Impact
Silverstein emphasized the local nature of the partnership, noting that Silverstein Properties, Rush Street Gaming, and Greenwood Gaming are all family-owned businesses with deep community ties. He highlighted his company’s four-decade presence on the West Side, viewing this project as an opportunity to generate employment, increase tax revenue, and provide affordable housing for both the city and state.
Rush Street Gaming, which operates the Rivers Casino brand in Schenectady and has projects in Pittsburgh and Philadelphia, expressed enthusiasm about entering the Manhattan market. CEO Tim Drehkoff praised Silverstein’s urban development track record and expressed eagerness to contribute to what could become New York City’s first casino destination.
Job Creation and Economic Boost
The Avenir project promises to create over 9,000 union jobs, with 4,000 during construction and more than 5,000 full-time positions post-opening. The development aims to attract both tourists and locals, potentially stimulating the area’s economy for years to come.
Fierce Competition for NYC Casino Licenses
As New York prepares to award three downstate casino licenses, competition is intensifying with nearly ten contenders, including industry giants like Caesars Entertainment, MGM Resorts, and Hard Rock International. Bids have been submitted for prominent locations such as Hudson Yards, Times Square, Coney Island, and an area near Citi Field in Queens.
Recently, the New York City Planning Commission approved the proposed Coney Island casino project. Interested parties must submit their bids for these coveted licenses by June 27. If selected, The Avenir would become Manhattan’s first major casino, potentially transforming the city’s entertainment and tourism landscape.
The outcome of this high-stakes competition will undoubtedly shape the future of New York’s gambling industry, with far-reaching implications for the city’s economy and entertainment offerings.
I remember the first time I saw Kai Tak, Hong Kong’s gambling city, I thought I was in a fairy tale. All the lights blinking, the music and the monumental buildings, what 9-year-old wouldn’t think they’ve come to a magical place? It was my father who brought me, dragging me along and when inside I was hit by the smell of frying duck. As soon as I hit 21 I returned to Kai Tak, A bit nervous to see if my mind had embellished the memory, but it hadn’t. Kai Tak was still a magical place. I decided I wanted to spend as much time as I could at this place, so I did.
