BREAKING NEWS: A groundbreaking approach to Manhattan’s gaming landscape has emerged with the announcement of the $11.1 billion Freedom Plaza project. Proposed by the Soloviev Group in partnership with Mohegan, this initiative aims to redefine casino culture by prioritizing community values over flashy entertainment.
In a significant shift from traditional casino designs, Freedom Plaza’s casino floor will be located below ground, ensuring it remains unobtrusive to the neighborhood. The project has already made headlines for dropping extravagant features, like the proposed Ferris wheel, in response to community feedback. Michael Hershman, CEO of the Soloviev Group, emphasized this commitment to community: “We were not interested in bringing, for lack of a better word, a circus atmosphere to Manhattan.”
This innovative project is among eight competing bids for three coveted downstate casino licenses, which are expected to be awarded soon. The Freedom Plaza proposal was presented to the Community Advisory Committee on July 18, 2023, highlighting its unique features and community-first approach.
The Freedom Plaza project encompasses more than just a casino and hotel; it also includes a museum, green spaces, and two residential towers, totaling over 1,000 housing units, with more than 500 designated as affordable. Hershman noted that this is the only proposal to incorporate public green space, making it distinctly beneficial for local residents.
As competition heats up, with MGM Resorts recently unveiling a $2.3 billion proposal to expand Empire City Casino, Freedom Plaza stands out for its comprehensive community benefits. Other contenders include a Caesars-backed project in Times Square, supported by Jay-Z’s Roc Nation, along with bids from prominent names like Hard Rock and Bally’s.
Hershman also revealed an innovative twist: the project plans to allocate up to 12% of its initial public offering to NYC 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,” he explained, underscoring the project’s emphasis on local engagement.
Residents are encouraged to follow the developments closely, as the Freedom Plaza project promises to reshape the gaming landscape in Manhattan while fostering a sense of ownership within the community. With a proposal that blends entertainment, affordable housing, and public spaces, the Soloviev Group and Mohegan aim to set a new standard for urban gaming projects.
Stay tuned for more updates on this transformative project as it unfolds.
