written and last updated by
Sam Smith at
26 Jun 2023
Journalist, Editorial Department
The competition for three casino licenses in New York is heating up. Silverstein Properties and Greenwood Gaming and Entertainment have joined the race with their joint project, The Avenir.
The proposed casino resort would be built on a 92,000-square-foot site in the heart of Manhattan, which is owned and controlled by Silverstein Properties. Larry Silverstein, the chairman and founder of the company, previously played a key role in the redevelopment of the World Trade Center site.
The developers note that the site presents no significant logistical challenges. Silverstein and Greenwood emphasize that their project will aid in the economic recovery of the city and state while revitalizing the surrounding area. The Avenir will consist of two 46-story towers connected by a bridge, featuring 1,000 hotel rooms. The project also includes a casino, 12 full-service restaurants, a concert hall, and an art gallery showcasing works by local artists.
Larry Silverstein stated, "We need to work with state leaders and local officials to make New York the best place to live, work, and visit. We've done it before, and I am confident we can do it again. I've always said you should never bet against New York. This city and state will come back stronger and better than ever."
Eric Hausler, CEO of Greenwood Gaming and Entertainment, expressed excitement about partnering with Silverstein Properties. He believes the casino complex "will reflect the unique character and spirit of New York and attract visitors from around the world."
In addition, Silverstein and Greenwood are committed to providing "over 100 apartments that are 100% affordable" amid what they describe as a "housing crisis." The project is expected to create 9,500 jobs: 4,000 during construction and 5,500 permanent positions once completed.
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