UPDATE: The highly anticipated Metropolitan Park Project, the brainchild of New York Mets owner Steve Cohen and Hard Rock International, has just taken a significant leap forward. The development team submitted an additional application to the New York State Gaming Facility Location Board just before the October 14 deadline, reinforcing their ambitious $8 billion vision to transform the parking areas around Citi Field into one of New York’s premier entertainment hubs.
The latest projections reveal that the Metropolitan Park initiative is set to bring in an astounding $33 billion in tax revenue over the next 30 years. This massive project is anticipated to create approximately 17,000 direct construction jobs and another 25,000 indirect positions. Once operational, it will maintain 6,000 permanent jobs, with the potential for the overall job impact to exceed 40,000 positions, significantly boosting the local economy.
The planned complex will span 50 acres and include a 25-acre public park, a Hard Rock hotel and casino, a “Taste of Queens” food hall featuring local vendors, new retail options, and enhancements to local transport and road infrastructure. Notable improvements are expected, including a redesigned Willets Point subway station as well as new pedestrian walkways and bike paths.
From a financial perspective, the developers plan to pay a $500 million licensing fee upfront. They propose a 25% tax on slot machine revenues and 10% on table game profits, projecting that the casino will generate around $3.9 billion annually. This could result in nearly $850 million in tax revenue for both the state and city each year.
With the project receiving full community backing, Hard Rock International is poised to begin construction immediately if granted a license in December. The proposed gaming facility will feature 5,000 slot machines, 375 table games, 30 poker tables, and an 18,000-square-foot sportsbook, making it one of the largest gaming floors in the region.
The development team has actively engaged with the local community, hosting 16 public workshops and speaking with tens of thousands of residents over the past four years. All six nearby community boards have expressed their support, culminating in full endorsement from the Community Advisory Committee last month.
The project overcame major legal challenges earlier this year when both the City Council and state legislature voted to reclassify the parking lot land, previously designated as parkland, for commercial use. Following the withdrawal of MGM Resorts from the competition for a downstate casino license, the Metropolitan Park Project now faces competition from Resorts World in South Ozone Park and Bally’s in the Bronx. The Gaming Facility Location Board is expected to announce the winning bids by the end of the year.
As anticipation builds, the implications of this ambitious project are monumental, promising significant economic benefits and job creation for the Queens community. Stay tuned for further updates as the December license decision approaches.
