A proposed casino in the heart of Times Square – with the support of Caesars Palace, Jay-ZS Roc Nation and the building owner SL Green Realty – will not move on, per vote this morning of the project’s Committee’s advisory committee (CAC).
“The question of promoting the application to the Gaming Planning Board has received two positive votes, which means that the application has been rejected,” concluded CAC chairman Carl Wilson under hearing. Four members of CAC voted against the project.
The proposal would have expanded a 150,000 square meter casino at One Aster Plaza Office Tower, located on 1515 Broadway, a 54 floors that also contain Minskoff Theater, best known as the home for musical “The Lion King.” It would also have included a sports-oriented hold of Jay-Z’s 40/40 club, spa, restaurants and an exclusive hotel in a hotel.
“We are disappointed with today’s decision and process”, a statement on behalf of the project’s three organizers read. “Caesars Palace Times Square was a Visionary Proposal That Aimed to Address Longstanding Challenges Through Meaningful Private Investment. While We Disagree with the Outcome of This Process, We Remain Committee. Community that is eager for progress, and we hope that then who opposed this project – Both in the public and private sectors – will go bring the same energy and resources to solving the very real Challenges Facing Times Square. “
The organizers of the project alleged That the business would generate $ 7 billion in tax and fee income within the first decade of operations, with $ 26.7 billion in revenue for neighboring companies, 3,000 construction jobs in the area and provides 3,800 permanent jobs to local residents.
“My partnership with SL Green and Caesars, this coalition, has all the promise and commitment to economic opportunity, growth and enrichment for society, and everyone who visits Empire State,” quoted Jay-Z to say in the project executive summary.
But the project was a source of debate between stakeholders on and around Times Square. Its opponents, including Hell’s Kitchen Neighborhood Association and several IATSE Union chapter, expressed concern about increased crime and negative effects on the surrounding community in the Broadway theaters.
“We are extremely grateful for the committee and local leaders – especially the state senator Liz Krueger, parish member Tony Simone, Borough President Mark Levine and Council member Erik Bottcher – who stood with residents and community to protect our Times Square accommodation and magin in Broadway and the world,” “The World,” “” “” wrote In response to the voice of the morning.
Its site lists About 200 local organizations and companies as supporters, including the Actors’ Equity Association Trade Union, representing actors and stage managers working in Live Theater, and the American Federation of Musicians Local 802, which partly represents musicians working on Broadway.
“This was a vote to protect the magic in Broadway for the hundreds of thousands of New Yorkers who depend on it for their livelihood, and for the tens of millions that come from all over the world to experience it. A casino can go anywhere, but Broadway lives only here,” said Jason Laks, president for Broadway.
SL GREEN REALTY CEO Marc Holliday drew no blows in his response to the rejection, which is quoted by Playbill: “What you did here today was a contemptible display of cowardice, lack of leadership, lack of consideration for all people who would take advantage of this proposal. You know it, we met the standard and then some. The only one with the courage to stand up is mayor and governor appointed and all others run and hide.”
