Manhattan’s Freedom Plaza Project Aims for Community-Focused Casino
UPDATE: A groundbreaking proposal for a community-centric gaming license is emerging in Manhattan, as the $11.1 billion Freedom Plaza project seeks to redefine casino culture. Designed by the Soloviev Group in partnership with Mohegan, this initiative deliberately avoids the typical glitz associated with gambling, instead prioritizing community needs.
The Freedom Plaza’s casino will be uniquely situated below ground, ensuring that it remains unobtrusive to the streets of Manhattan. Unlike other proposals, the ambitious plan has already scrapped flashy features like a Ferris wheel, responding to local community concerns. Michael Hershman, CEO of Soloviev Group, emphasized the project’s intention to foster a community spirit. “We are very sensitive to the community needs,” he stated, highlighting that the team comprises local residents who understand the area’s dynamics.
Freedom Plaza is currently one of eight contenders vying for one of three coveted downstate casino licenses. The plan was presented to the Community Advisory Committee on July 18, showcasing a comprehensive project that includes not only a casino and hotel but also a museum, green spaces, and two residential towers comprising over 1,000 housing units, with more than 500 designated as affordable. This is a significant shift from the initial proposal, which lacked housing options.
As competition intensifies, with MGM Resorts recently unveiling a $2.3 billion proposal to expand Empire City Casino, Freedom Plaza aims to stand out. Other competitors include a Caesars-backed project in Times Square with Jay-Z’s Roc Nation, alongside bids from Hard Rock and Bally’s.
Hershman believes Freedom Plaza’s unique approach—allocating up to 12% of its initial public offering to NYC residents—will resonate deeply with the community. Inspired by the ownership model of the Green Bay Packers, he stated, “Let’s give them not only a sense of being but an opportunity to make money off it as well.”
This initiative is not just about building a casino; it is about creating a sense of ownership and belonging within the community. Hershman noted, “We actually live in that district,” underlining the project’s commitment to enhancing the local environment and economy.
As the bidding process progresses, Freedom Plaza could redefine how casinos integrate into urban landscapes, focusing on benefits for local residents over mere profit. The coming weeks will be crucial as Manhattan weighs its options in this high-stakes race for gaming licenses. Stay tuned for more updates on this developing story.
