Related Companies Submits $12 Billion Casino Vision for Hudson Yards
Related Companies recently announced its ambitious $12 billion plan to develop a casino complex in New York City’s Hudson Yards. This proposal envisions transforming the train storage area west of Hudson Yards into a dynamic space featuring three skyscrapers and over five acres of public open space. The multifaceted development aims to include a casino, hotel, offices, residential units, a public school, and expansive open areas.
Jon Weinstein, a spokesman for Related, highlighted the company’s proactive approach to community involvement: “We are excited to continue engaging with stakeholders across the local community as part of the city land-use process for the undeveloped railyards.”
As New York City gears up to issue three casino licenses, Related’s comprehensive proposal is a significant contender. With the potential to secure the state gaming license, Related plans to leverage the 13-acre site it owns above the MTA’s West Side Yard. The envisioned complex aims to become a hub of entertainment and living, with the casino and a 1,750-room hotel serving as the focal points.
The development’s blueprint includes a 2.6 million-square-foot casino and hotel resort, complemented by retail outlets, conference spaces, and an 80-story skyscraper. Beyond gambling and accommodation, the project seeks to offer residential and commercial spaces and public amenities, aiming for completion by 2030.
However, the realization of Related’s vision depends on acquiring a state gaming license and approval for a city rezoning request. The project is one of several bids from across the five boroughs competing for the limited licenses.
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Silverstein Properties has also thrown its hat into the ring, with a proposal last June for a mixed-use hotel, casino, and residential complex on the site of a former Mercedes Benz dealership in the West Side area.
Related’s investment significantly overshadows other proposals, such as Steve Cohen’s $8 billion plan for a Queens casino, highlighting the intense competition and high stakes involved in New York City’s casino license race. Related, in partnership with Wynn Resorts, was among the first to announce its candidacy for a casino license in 2022, signaling a strong desire to shape New York City’s entertainment and gaming future.
