A major New York City real estate company is rolling the dice with plans announced Friday to build a 46-story, two-tower development on the west side of Manhattan featuring a casino, hotel, and residential complex.
The development, called The Avenir, is slated to be a 1.8 million square foot project located just north of the Javits Center.
Silverstein Properties, a real estate developer and investment firm, said that the development would go up on vacant land at 41st Street and 11th Avenue near Hudson Yards and will include 1,000 luxury hotel rooms, 100 permanently affordable apartments, a 1,000 seat-performance hall and a casino.
The project will include a sky bridge at the top that will connect the two towers. The Avenir will also feature no less than 12 full-service restaurants, along with a food hall showcasing local restaurants.
The developer, with partner Greenwood Gaming and Entertainment, is the 11th company to put forward a casino proposal for one of three available casino licenses that are up for grabs in the New York metro area. Greenwood Gaming and Entertainment is the owner and operator of Parx Casino in Pennsylvania, a casino that opened in January.
Eric Hausler, CEO of Greenwood Gaming and Entertainment, said in a statement that he looks forward to working with the community leaders of Hell’s Kitchen and Hudson Yards—as well as Silverstein Properties—to create a development that will serve both neighborhoods.
“We are excited to join with Silverstein Properties to create a gaming, leisure, and entertainment destination that will reflect the unique character and spirit of New York City, and attract visitors from all over the globe,” Hausler said.
Silverstein and Greenwood Gaming and Entertainment will submit a proposal to the state’s Gaming Facility Location Board for official consideration through the state’s Request for Applications process.
Silverstein Properties said the development will create 4,000 union construction jobs and 5,500 permanent union jobs. The developer said the project will generate billions of dollars for the city and state, as well as funding for the Metropolitan Transportation Authority.
The real estate giant has partnered with Allee King Rosen & Fleming to study The Avenir’s impact on the area via an Environmental Impact Study.
The project will be all-electric with no fossil fuels on-site and will include a number of environmentally friendly components such as energy-efficient building systems, high-recycled content, and renewable construction materials, according to Silverstein Properties.
Silverstein Properties is also “assessing innovative technologies that reduce smog and carbon emissions, with the goal of reducing the pollution caused by cars and buses using the Lincoln Tunnel.”
The Avenir will be designed by architectural firms Steelman Partners and CetraRuddy. Paul Steelman, CEO of Steelman Partners, called The Avenir an “integrated resort” and pointed to an opportunity to create value for the neighborhoods The Avenir will be developed in.
“This site has important, unique connections to the city’s transportation systems and the Javits Center,” Steelman said in a statement. “The far West Side of Manhattan is a place rich with history, character, diversity, and opportunity.”
New York-based CetraRuddy has worked on several Manhattan developments including One Madison, ARO, 443 Greenwich, Rose Hill tower, Lincoln Square Synagogue, and Fotografiska. Nancy J. Ruddy, co-founder of CetraRuddy, said in a statement that The Avenir would incorporate Hell’s Kitchen’s history and build a new legacy for the storied neighborhood.
Said Ruddy: “We are delighted to work once again with the visionaries at Silverstein Properties in Hell’s Kitchen, a neighborhood we also know very well, to create a new mixed-use nexus of new employment, affordability, entertainment, and magnetic urban experiences.”
Larry Silverstein, chairman of Silverstein Properties, purchased the full square block between West 42nd and West 41st Streets and 11th and 12th Avenues in 1984. The company owns the two luxury residential buildings, River Place and Silver Towers, across the street from the proposed Avenir project. The company, as part of a joint venture, recently won approval to build Innovation QNS, a mixed-income residential development in Astoria, Queens.
Silverstein Properties has an extensive portfolio of high-profile properties, such as 7 World Trade Center, 4 World Trade Center, the Four Seasons Walt Disney Resort, the Four Seasons Downtown and 30 Park Place, One West End, and 3 World Trade Center.
Silverstein said in a statement that New York City and the state are facing a confluence of historic challenges, including a housing crisis, public safety challenges, budget shortfalls, and a commercial real estate market in flux.
“We need to work with state and local leaders to do everything we can to make New York the best place to live, work, and visit,” Silverstein said. “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 bigger and better than ever before.”
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