Green Light for Hudson Yards Casino Project
Related Companies and Wynn Resorts are a step closer to realizing their vision for a new casino at Hudson Yards.
City Planning Vote Supports Casino Development
The Department of City Planning in New York City has voted to endorse modifications to “revitalize the underdeveloped Western Railyards” for the proposed Hudson Yards West, a $12 billion casino project adjacent to the High Line pedestrian park, as announced by Related.
Project Details and Impact
If awarded one of New York City’s limited casino licenses, Hudson Yards West, which is also backed by Oxford Properties Group, would encompass a gaming resort, housing units, and green park space, according to the release.
Community and Economic Benefits
“Today is a significant step forward for Hudson Yards West: our partnership with City Planning brings us closer to achieving this landmark investment in our community, promising thousands of new union jobs, housing units, a large public green space, and nearly $200 million in community benefits,” stated Related CEO Jeff Blau.
Opposition from Local Officials
Despite a 9-to-4 vote in favor from City Planning, the project encounters opposition from local lawmakers, community members, and city officials like Manhattan Borough President Mark Levine, who argue it would necessitate significant zoning changes and reduce the originally proposed housing units.
Revenue and Job Creation Projections
Related anticipates that if approved, Hudson Yards West could yield $2.7 billion in revenue for the Metropolitan Transportation Authority (MTA), given that construction would occur on MTA rail yard property requiring rental payments and designated sales taxes. The project is projected to generate 5,000 permanent union jobs, 35,000 construction jobs, 1,500 housing units (including 324 affordable units), and a public park, alongside a substantial commitment to local community initiatives.
Next Steps in the Approval Process
With City Planning’s endorsement, Hudson Yards West now advances to the final phase of the city’s Uniform Land Use Review Procedure, where the New York City Council will vote on the proposal’s merits before it can be considered for a gaming license by the state, expected to be awarded by the end of this year. However, it remains one of multiple proposals vying for a casino license in New York City.
