Hyatt Rolls The Dice On Silverstein's West Side Casino Proposal
Silverstein Properties’ Manhattan casino proposal has landed Hyatt as its hospitality brand partner.
The 1,000-key luxury hotel, known as The Avenir, would be managed under The Destination by Hyatt brand, the companies announced Friday. Rush Street Gaming and Greenwood Gaming and Entertainment are also involved in the joint venture pushing for the right to develop a more than $1B casino project.
“New York City is competing globally for exhibitions, conventions and meetings,” Silverstein President Tal Kerret said in a statement. “We’ve assembled an extraordinary team of food and beverage partners, and now a leading hotel brand that will help support and add to New York’s vital tourism and convention industries.”
Under its current design, The Avenir would reach 785 feet with a nine-story base below a 45-story tower. The site, a vacant lot at 514 11th Ave. that Silverstein acquired in 1984, is a block from the Jacob K. Javits Convention Center.
In addition to the hotel and casino components, the project would feature five restaurant concepts by well-known hospitality groups like Danny Meyer's Union Square Hospitality Group and Starr Restaurants and a food hall with venues from local restaurateurs.
In a statement, Hyatt Head of Americas Development Dan Hansen said that the Far West Side mixed-use development “would represent a significant milestone in our strategic expansion in key travel destinations.”
Hotel and casino employees will be union workers, the companies said in its announcement. The firms expect the project to create 4,000 union construction jobs and nearly 5,000 permanent jobs.
The joint venture has also tapped Union Square Hospitality HQ for its workforce training and development.
The announcement comes just a week before final casino bids for the three available downstate casino licenses are due June 27, though it will take officials months to determine which proposals will be awarded.
Winners are expected to be announced by the end of the year. Two of the licenses are expected to go to existing racinos Empire City Casino in Yonkers and Resorts World in Jamaica, Queens.
That means groups like Silverstein, Bally's, SL Green, Thor Equities and New York Mets owner Steve Cohen are believed to be fighting for just one license.
Developers have been putting final touches on their bids in the months leading up to the deadline in an attempt to garner more community favor. Silverstein recently adjusted its pitch from two 46-story towers connected by a skybridge to one. It also sweetened its proposal with an offer to build 100 affordable apartments off-site.
