Caesars’ Times Square project gains local support
Caesars Entertainment’s Times Square casino development has gained the support of the Garment District Alliance ahead of its final hearing.
Key points:
– Caesars’ Times Square proposal faces its final hearing on 11 September
– Garment District Alliance Officer’s Commitee has written to a New York Councillor to express support
– The letter points towards investment in the surrounding areas as a positive aspect of the proposal
New York’s famous Garment District sits adjacent to the equally storied Times Square, where plans to install a new Caesars Palace venue are awaiting the green light.
The joint proposal from Caesars Entertainment, SL Green, Jay-Z’s Roc Nation and Live Nation contains commitments that, if fulfilled, would uplift both the Entertainment District in which the gaming and entertainment venue would sit and neighbouring communities like the Garment District.
On 4 September, the Garment District Alliance (GDA) addressed a letter to New York councillor Erik Bottcher, who is a key decision maker in this process, ahead of the project’s final hearing on 11 September.
The letter firmed up the Alliance’s support of the project, which it says will drive retail and improve business prospects of the area and nearby areas.
Brett Herschenfeld, EVP at SL Green has commented: “We heard from the Garment District Alliance officers that the Garment District is in need of capital investment and enhanced security for the public realm. We are proud that Caesars Palace Times Square will directly address these needs with millions in investments for the neighbourhood that will help improve and enhance the area.”
The GDA Officer’s Committee represents the business interests of New York’s fashion industry, and in its letter, it outlined further strengths of the proposal.
Good to know: The New York State Gaming Commission announced earlier this year that there are three potential licences that could be awarded before the end of 2025, of which this new Caesars venue could be one
These strengths include the repurposing of an existing building, the prohibition of gambling on the ground floor and the limited number of hotel rooms, restaurants and retail facilities within the venue in order to drive custom to local businesses.
The Committee were also keen to point towards the tens of millions of dollars in funding that the project promises to invest in lighting, sanitation and pedestrian safety across the Garment District.
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