Related Companies unveil renderings of massive $12B NYC casino complex at Hudson Yards
Wynn Resorts unveiled art renderings for a massive $12 billion complex the casino giant hopes to build on Hudson Yards, a former graveyard for LIRR trains on the West Side of Manhattan.
The ambitious proposal — created by real estate giant Related Companies — features an 80-story tower overlooking the Hudson River that houses a gaming facility and hotel. Office buildings, apartment towers, and a spacious 5.6-acre park would surround the gleaming casino skyscraper.
Tourists walking along the High Line, an elevated train line converted to a public park, would wander directly past the site and could enter the massive resort between West 30th Street and 33rd Streets and 11th and 12 Avenues.
From the Hudson River, the design shows a shiny office building and residential tower to the right of the casino resort tower. The project also includes a 750-seat public school, a community facility and day care center.
Hudson Yards West — whose partnership also includes the Oxford Properties Group — would provide 35,000 union construction jobs and 5,000 permanent careers in the resort, planners claim.
The hotel would be an essential destination for visitors attending events at the Javits Center next door, promoters of the plan argue, claiming the development could help boost New York tourism and economic development.
“Hudson Yards has already proven to be an unparalleled catalyst for the New York economy, first through tens of thousands of construction jobs and now as home to the world’s leading companies, retail and housing,” said Jeff Blau, CEO of Related Companies.
“Moving forward with the second phase of development presents an incredible opportunity to double the impact and provide generational benefits to the State, City, and especially our West Side neighbors.”
Blau added: “We look forward to completing our vision for the neighborhood in partnership with Wynn Resorts and revealing full project plans as part of our application to New York State.”
Craig Billings, CEO of Wynn Resorts said, “As the leading designer, developer, and operator of premium gaming resorts in the world, Wynn New York City will attract luxury and aspirational travelers to our destination resort in Hudson Yards.
“Wynn guests consistently spend more when they travel. That results in greater tax revenues for the city and state and more spending in the local community, all with less foot traffic than might be required at other resorts.”
A price tag for the project was not revealed, but it was previously reported that the massive complex would cost up to $12 billion, which includes dollars associated with building atop the rail yard.
The state is considering awarding up to three casino licenses in the downstate region, including New York City, Long Island and northern suburbs. The winning bidders would have to pay at least a $500 million license fee for the privilege to run a casino.
A fierce competition over the coveted casino license has emerged.
In Queens, owner of the New York Mets Steve Cohen has proposed a sprawling $8 billion gaming center, hotel, and music venue near Citi Field that he has dubbed “Metropolitan Park.”
The property surrounding the potential gaming complex is home to Flushing Corona Park, the U.S. Open Tennis Center, and a planned soccer stadium for New York City Football Club.
A short trip from Flushing, the owners of Resorts World New York City slot parlor at Aqueduct race track in South Ozone Park recently announced a $5 billion expansion of its facilities in hopes of obtaining a license to offer table games, which would include a 7,000-seat concert Hall.
The operators, Genting, already run a hotel on the premises and have a decade-long track record in the Queens neighborhood.
Other developers and casino operators have joined forces for proposals to build a casino in Times Square, Coney Island, and possibly Ferry Point in The Bronx, where gaming operator Bally’s recently took over the golf course from the Trump Organization.
Empire Resorts MGM at Yonkers race track, like Genting, is also seeking a license to offer table games.
The biggest challenge for Hudson Yard’s developers may be winning political and community support. Projects such as former Mayor Bloomberg’s proposed West Side Olympic stadium were scuttled due to fierce opposition from locals.
State Sen. Brad Hoylman, who reps the Hudson Yards neighborhood, said he wants to see if the proposal fits in with the original vision for the site dating back to 2009.
The new development proposes three buildings instead of six, with more contiguous park space, a source close to the development said. Aside from winning over state backing, the plan would have to be approved by city officials via the lengthy land use review procedure.
A source close to a rival casino bidder said of the Hudson Yards plan, “This project has gone from a ‘No’ shot to a long shot.”
