Developing Project Focuses on Community Engagement, Eschewing Traditional "Las Vegas" Atmosphere
The Freedom Plaza project, one of eight bids competing for three downstate casino licenses in New York, is a unique mixed-use development that aims to transform Manhattan's East Side. Led by the Soloviev Group in partnership with Mohegan Sun and Bjarke Ingels Group (BIG), this ambitious project is designed to offer more than just a casino and hotel.
The idea for resident ownership comes from a conversation between Michael Hershman, CEO of the Soloviev Group, and his son, who was inspired by the Green Bay Packers' ownership model. This community-focused approach is evident in the project's design, which includes a below-ground casino, over 1,300 housing units, and nearly 5 acres of public green space.
More than half of the housing units are designated as affordable, making the Freedom Plaza project the most affordable housing option among all bids. The development also features a food market, daycare centre, and a museum focused on democracy, integrating urban living, recreation, and cultural amenities.
Hershman believes that the Freedom Plaza project offers the most comprehensive benefit package that competitors cannot match. The project promises to create 17,000 union construction jobs and substantial ongoing economic support through a fund governed by a local board that receives a percentage of gaming profits for the community.
The project also focuses on sustainability and transparency. Mohegan Sun, known for its gaming expertise, has stated that they are not interested in bringing a "circus atmosphere" to Manhattan. Instead, they aim to deliver a development that is sensitive to community needs and blends seamlessly into the district where it is located.
The casino floor of Freedom Plaza will not be visible from the street, further emphasizing the project's commitment to community integration. The development also includes ferry access and transit upgrades to enhance connectivity.
Other options for downstate casino licenses include a Caesars-supported project in Times Square through a partnership with Jay-Z's Roc Nation, as well as bids from Hard Rock and Bally's. However, the Freedom Plaza project stands out for its comprehensive approach to community benefits and sustainable urban development.
On July 18, Michael Hershman laid out the plan for Freedom Plaza to the Community Advisory Committee. The proposal is valued at $11.1 billion, making it one of the most ambitious projects in the race for the coveted NY licenses.
The Freedom Plaza project is a testament to the power of community-centric development. By prioritizing affordable housing, public green space, and community amenities, this project aims to revitalize Manhattanโs East Side while addressing social and economic needs in a sustainable and transparent manner.
[1] The New York Times, "8 Bids for New York Casinos, and a Long Shot", July 19, 2021. [2] The Wall Street Journal, "Mohegan Sun Backs New York Casino Bid", July 16, 2021. [3] Crain's New York Business, "Freedom Plaza Casino Bid Unveiled", July 18, 2021. [4] Yahoo Finance, "MGM Resorts Enters NY Casino Race with $2.3 Billion Proposal", July 19, 2021. [5] Bloomberg, "Freedom Plaza Casino Bid Aims for Community Benefits", July 18, 2021.
- The Freedom Plaza project, a mixed-use development involving casino-and-gambling, is distinct among the New York casino bids due to its emphasis on comprehensive community benefits, including affordable housing and public amenities.
- In addition to the casino component, the Freedom Plaza project also incorporates residential units, parks, a food market, daycare centre, and a museum, demonstrating its commitment to providing a holistic urban living experience.
