UPDATE: The $11.1 billion Freedom Plaza project, a community-focused gaming initiative in Manhattan, is making headlines as it competes for one of the coveted casino licenses in New York. Proposed by the Soloviev Group in partnership with Mohegan, Freedom Plaza takes a distinctive approach by avoiding the usual casino glitz.
Unlike many flashy casino proposals, Freedom Plaza’s casino floor will be located below ground, keeping it out of sight from the streets. The project’s vision was shared with the Community Advisory Committee on July 18, where CEO Michael Hershman emphasized the intention to create a space that resonates with local residents. “We are very sensitive to the community needs,” Hershman said, highlighting the project’s commitment to integrating community priorities.
The Freedom Plaza proposal includes a casino, a hotel, a museum, and over 1,000 housing units, with more than 500 earmarked as affordable. This significant inclusion of affordable housing is a response to community feedback, positioning Freedom Plaza as the only project to offer public green space in the borough.
In a unique twist, the project plans to allocate up to 12% of its initial public offering to New York City residents, inspired by the ownership model of the Green Bay Packers. “Let’s give them not only a sense of being, but an opportunity to make money off it as well,” Hershman noted. This strategy aims to foster a sense of ownership among locals, setting Freedom Plaza apart from its competitors.
As the competition heats up, other major players like MGM Resorts and a Caesars-backed project in Times Square, supported by Jay-Z’s Roc Nation, are also in the running for the three available downstate casino licenses. MGM recently unveiled a $2.3 billion proposal to transform Empire City Casino into a full resort.
Hershman remains confident that Freedom Plaza offers the most comprehensive benefits for the community, emphasizing the importance of building a project that reflects the values and needs of New Yorkers. “We actually live in that district,” he said, underscoring a personal connection to the area.
As this groundbreaking proposal progresses, the public will be watching closely to see how it shapes the landscape of Manhattan and addresses community needs. Stay tuned for further updates as the competition for New York’s casino licenses continues to unfold.