Sub Markets

Property Sectors

Topics

New York & Tri-State CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

New call-to-action
New York & Tri-State  + Midtown New York  + Hospitality  | 

Times Square, Hudson Yards Casino Proposals Nixed by Advisory Committees

Manhattan casino proposals spearheaded by SL Green Realty Corp. and Silverstein Properties are effectively dead following votes Wednesday by community advisory committees. The committees voted no by a 4-2 margin for both the SL Green/Caesars Entertainment proposal for Times Square and the Silverstein-led Avenir project that would have been built in Hudson Yards.

In a statement, a Caesars spokesperson said, “While we are disappointed by the outcome, our commitment to New York remains unwavering. We are proud of our strong partnerships across the state as anchored by our Caesars Sportsbook platform, where we continue to invest and innovate to serve New Yorkers. New York is a dynamic part of our national footprint, and we look forward to exploring future opportunities.”

In a letter to the CAC evaluating the Hudson Yards proposal prior to Wednesday’s vote, the Avenir team noted that the committee had made a “significant” last-minute request to which the team wasn’t given adequate time to respond. The committee held the vote at the scheduled time anyway.

New York State is looking to award three downstate casino licenses by the end of 2025.

Read More News Stories About: SL Green Realty Corp
Connect

Inside The Story

Caesars Enertainment

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Development