Silverstein Properties, a national real estate investment, development and management firm, has announced it will be submitting an application for one of three available licenses for the creation and operation of downstate New York-based casinos.
Elite Sports NY reported the company is teaming with Greenwood Gaming and Entertainment to develop the Avenir, a 1.8 million-square-foot mixed-use development on Manhattan’s West Side that would encompass a casino, hotel, entertainment and dining venues and more than 100 units of affordable multifamily housing. The development would be located on just north of the Jacob K. Javits Convention Center and four blocks west of Times Square that is fully owned by Silverstein Properties.
The company said the project would create 9,500 union jobs, including 4,000 union construction jobs and more than 5,500 permanent union jobs when the development is completed.
The three casino licenses available through the New York State Gaming Commission will enable the creation of casinos in New York City, Long Island and the Lower Hudson Valley. The licenses are expected to be awarded next year.
“Our company has been part of the Hudson Yards / Hell’s Kitchen neighborhood for nearly 40 years,” said Lisa Silverstein, vice chairwoman of Silverstein Properties. “We have already built 549 affordable homes on West 42nd Street and look forward to developing over a hundred more as part of this project. The Avenir is an opportunity to create much needed affordable housing, jobs, and economic development, along with many neighborhood improvements in an isolated and often-overlooked part of the city.”
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