Manhattan borough president Mark Levine has made it clear that he’s not on board with Wynn Resorts and Related Companies’ proposal to bring a $12 billion casino project to Hudson Yards.
Both parties released renderings of the potential new property back in August. Aside from the casino itself, the proposal includes housing, shops and restaurants and more. Like most of the other downstate casino pitches, it has received some support but also plenty of opposition since its plans became public.
Levine isn’t satisfied with the casino proposal, he told Crain’s New York Business last week. A 2009 agreement between Manhattan Community Board 4 (MCB4) and Related Companies featured a plan that would bring 5,800 housing units on the Western Railyards.
The current plans including the new gambling facility do not include nearly the agreed amount 16 years ago. Levine told Crain’s where he believes efforts should go:
“I consider it really important that we build on the Western Rail Yards. But I’ve concluded that the plan as currently proposed is not good enough.”
How Related Companies could possibly win Levine over
Though Levine did issue a flat-out rejection of the proposal, Wynn could try to find a way to sway his decision. Levine told Crain’s that if Related Companies adds more housing to the project and sticking to the 2009 agreement.
The latest proposal calls for only 1,500 housing units, with 324 being affordable apartments. The project appears to be at a standstill, though. Natalie Ravitz, Related Companies spokeswoman, does not believe adding housing would cover the construction costs. She told Crain’s:
“There is no getting around the fact that the site cannot be developed without first paying for the $2 billion platform over the rail yards, and unfortunately it is simply not viable to pay for the platform with housing.
“The housing units removed from the plan were multi-million dollar, luxury condos that the west side does not need and the market does not support.”
She called the current proposal a “viable plan that preserves the entirety of the affordable housing commitment we made to the community.” The project would create 5,000 permanent union jobs and 35,000 construction jobs.
What the Hudson Yards proposal includes
Wynn Resorts and Related Companies would be building much more than a new casino. The press release in August said that the finish product would include “significant quality-of-life improvements for the neighborhood and enormous economic opportunity for the entire city.”
The site includes an 80-story building that overlooks the Hudson River, which would include the following amenities:
- Gambling facility
- 1,500 housing units
- Pool deck
- Shops
- Office space
- Restaurant and bars
In addition to the building, it would be surrounded by a 5.6-acre public park, which can be compared to Bryant Park.
According to Crain’s, Related Companies has already made four changes to the plans in an attempt to satisfy the city’s needs. It could be a long road for the company to get the green light on the project.
