Related Companies and Wynn Resorts’ vision for a shiny casino at Hudson Yards just got one step closer to reality.
New York City’s Department of City Planning voted Wednesday to support modifications required to “revitalize the underdeveloped Western Railyards” for Hudson Yards West, the developers’ $12 billion casino complex proposed along the High Line pedestrian park, according to an announcement from Related.
If it is awarded one of New York City’s coveted three casino licenses, Hudson Yards West, which is also led by Oxford Properties Group, would include a gaming resort, housing and green park space, the release said.
“Today marks a critical milestone for Hudson Yards West: Thanks to the collaborative process with City Planning, we are closer than ever to delivering on this historic investment in our community, which will create thousands of new union jobs, thousands of units of new housing, a huge new public green space park and nearly $200 million of community benefits,” Related CEO Jeff Blau said in a statement.
Spokespeople for City Planning and Wynn did not immediately respond to requests for comment.
Despite the 9-to-4 vote of approval from City Planning, Related’s Hudson Yards faces opposition from local lawmakers, residents and city officials, including Manhattan Borough President Mark Levine. Critics like Levine claim the project would require drastic zoning changes to the area that would reduce the number of housing units originally pitched by Related for the site, as Commercial Observer previously reported.
Part of Related’s proposal is a “community-centered development plan,” which would dictate 1 percent of gross gaming revenue from the casino to local community organizations, allowing the surrounding neighborhood to have a “direct stake in the project’s long-term success,” the release said.
If approved, Related estimates Hudson Yards West would generate $2.7 billion in revenue for the Metropolitan Transportation Authority (MTA), as the construction would take place on the MTA’s rail yard property and require rental payments and dedicated sales taxes to the agency, according to a spokesperson for Related.
The project is also expected to create 5,000 permanent union jobs, 35,000 union construction jobs during development, 1,500 housing units (including 324 affordable units), a 5.6-acre public park, a public school, and a $197 million investment into local community organizations, the release said.
In a meeting before Wednesday’s vote, the Department of City Planning said Related’s revised proposal is “superior to the one proposed in 2009” because it “provides more green space” for the neighborhood, the release said.
But while City Planning supported Related’s revisions to the 2009 plan, the reduction of residential units from the roughly 5,800 Related pitched then to the 1,500 currently in the plan was part of the reason Levine — who has an advisory role in land use matters — voted to reject the plan.
City Planning’s approval allows Hudson Yards West to move to the final stage of the city’s Uniform Land Use Review Procedure, in which the New York City Council will vote on the proposal and decide whether it should be considered by the state for one of three gaming licenses set to be awarded by the end of this year, according to the release.
Even if Related and Oxford win approval for the rezoning, Hudson Yards West is still not a done deal and is just one of many casino bids in New York City fighting for a gaming license.
The other proposals include New York Mets owner Steve Cohen and Hard Rock International’s plan for a casino near Queens’ Citi Field; Soloviev Group and Mohegan’s Freedom Plaza project near the United Nations; Thor Equities, Saratoga Casino Holdings, the Chickasaw Nation and Legends’ $3 billion casino proposal in Coney Island, Brooklyn; SL Green Realty, Caesars Entertainment and Jay-Z’s Roc Nation’s bid for a casino in Times Square; and Resorts World New York City’s goal to redevelop its Queens casino.
Isabelle Durso can be reached at [email protected].
