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Read Full BioSilverstein Properties, Rush Street Gaming, and Greenwood Gaming and Entertainment have selected Hyatt as the hospitality brand for The Avenir, the multi-use New York casino and entertainment complex proposal on Manhattan’s Far West Side.
The Avenir hotel will operate under Hyatt’s Destination brand. It will include 1,000 luxury rooms, offering upscale accommodation and access to the World of Hyatt loyalty program.
Tal Kerret, President of Silverstein Properties, commented on the announcement:
“We are very pleased to be working with Hyatt on this exciting development and tap into World of Hyatt’s 56 million members to help drive new business to Manhattan’s Far West Side,”
“New York City is competing globally for exhibitions, conventions, and meetings. We’ve assembled an extraordinary team of food and beverage partners, and now a leading hotel brand that will help support and add to New York’s vital tourism and convention industries.”.
The developers also emphasize their relationships with labor unions. Rich Maroko, President of the Hotel and Gaming Council, backed the project, stating that casinos create thousands of high-quality jobs.
If selected to receive a casino license, the Avenir projects it will create 4,000 union construction jobs and 5,000 permanent jobs.
60,000 Sq Ft of Gaming, 100 Affordable Houses On 92,000 Sq Ft Plot
The Avenir project would sit on a 92,000-square-foot plot. It will be located at 11th Avenue and 41st Street, just north of the Jacob Javits Convention Center.
In addition to the Hyatt’s Destination hotel, it will include 600,000 square feet of gaming space occupying eight floors. Additionally, it will include a 1,000-seat concert hall and 100 affordable housing units.
Affordable housing units are proving to be an essential factor for casino bidders in Manhattan. Recently, a Tulchin Research poll showed that nearly two-thirds of Manhattan voters support Soloviev’s Freedom Plaza project. A driving factor was the promise of 513 affordable housing units.
Stiff Competition for a Limited Number of Licenses
The Avenir is one of eight high-profile proposals vying for one of three downstate New York casino licenses.
Two of them, MGM Resorts International’s Empire City Casino in Yonkers and Genting’s Resorts World New York in Queens, are existing racinos and considered frontrunners.
Another prominent candidate is the $8 billion casino and entertainment plan backed by Mets owner Steve Cohen. Cohen is a substantial political donor, including to Gov. Kathy Hochul.
Meanwhile, Bally’s Corporation’s proposal for a Bronx casino at the site of the former Trump golf course advanced through the licensing process after receiving support from New York Mayor Eric Adams.
Still, real estate mogul Larry Silverstein owns Silverstein Properties, the developer of Avenir, which built One World Trade. Silverstein Properties is among the most politically connected companies in New York, which could help its cause.
