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Related Companies Reveals Details for Proposed Hudson Yards Casino
Last updated on February 23rd, 2024 at 04:03 pm
The competition is tough for companies that want to get one of the three New York City casino licenses. One of them is Related Companies. Recently, the details of the proposed Hudson Yards casino were revealed. Also, it stated the project will have a budget of $12 billion.
Public documents submitted to the city’s Department of City Planning show that the proposed development will have three buildings and more than five acres of green space if given the green light.
According to bookie PPH sources, Related would like to build a casino, hotel, offices, apartments, public school, and open space on the thirteen-acre property over the MTA’s West Side Yard. However, it depends on whether it can obtain the necessary state gaming license.
Steve Cohen had proposed a $8 billion casino near Citi Field in Queens. However, Related’s proposed building would cost $12 billion, which is more expensive.
As the state gets ready to submit applications for three licenses to operate casinos in downstate areas, this plan is the most recent development in a high-stakes contest.
Proposed Hudson Yards Casino
With its partner Wynn Resorts, Related was the first developer to join the casino contest formally in 2022. However, until recently, they kept the specifics of their project under wraps.
The project’s focal point would be a resort complex with a casino and 1,750 rooms spanning 2.6 million square feet, complete with services, shops, and meeting rooms. A pedestal with five floors of casino space would be constructed, with an 80-story skyscraper rising above.
The development would have a hotel, a casino, residential and commercial areas, public facilities, a school, and a cultural center. Also, the estimated completion date for the construction project is 2030, after five years.
Related must first get a rezoning request from the city and a gaming license from the state before its ambitions can come to fruition. At least eight other development teams from each of the five boroughs are also competing for the licenses that are so highly sought after. They can also become an online bookie in the state with the license.
According to gambling news reports, other companies want to bring a casino to the West Side and Hell’s Kitchen. At the corner of W41st Street and 11th Avenue, a proposed hotel, casino, and residential mega-complex was revealed in June by Silverstein Properties, the firm best known for building and managing the River Place and Silver Towers neighborhood apartments. The 1.8 million square foot building was formerly a Mercedes Benz dealership, and their idea would fill that area.
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