Steve Cohen, owner of the New York Mets, is making waves with large-scale development projects near Citi Field, including plans for a new casino. This ambitious Metropolitan Park project aims to transform the underutilized area into a bustling destination full of parks, restaurants, and shopping, making it a major entertainment hub in Queens. While Cohen’s proposals still navigate political hurdles, they are already attracting attention from major players in the real estate and gambling sectors.
Strategic Development and Community Impact:
Cohen, a billionaire hedge fund manager who acquired the Mets in 2020, chose a 50-acre site that is currently used as a parking space for Citi Field for the venture. The highlight of the complex is the casino, which will be managed by Hard Rock Entertainment. The move is part of Cohen’s strategy to secure one of the new casino licenses that will allow for additional downstate gaming facilities through a recent state legislation. The developments have drawn global attention, attracting prominent figures from the real estate and gambling industries who want profitable ventures.
Steve Cohen is offering several community benefits to receive support for the Metropolitan Park project. This includes plans to redevelop the Willett Point area near Citi Field and transform it into a major entertainment hub. Proposed features include 20-acre public parks and 5-acre community sports fields, along with improvements to public transport (especially the Metz-Willett Point 7 train station), roads, and bike lanes. In addition, Cohen’s team plans to set up a $163 million fund to support Queens local nonprofits.
Beyond that, the project will feature live music venues and a “Taste of Queens” food hall that will showcase local suppliers. Cohen’s team expects the entire proposal to invest $8 billion in the local economy and create more than 23,000 jobs, both temporarily and permanently.
Resolving political and legal issues:
The proposal coincides with an ongoing effort to revamp the eastern section of Willett Point, historically known as Autobody stores and Scraper, into a thriving area with a new football stadium for New York City football clubs and numerous affordable housing complexes.
Despite the ambitious scope of Cohen’s offer, Cohen is just one of many companies looking for limited new casino licenses available in downtown New York. The fierce competition includes bids for casino sites in areas such as Times Square, Hudson Yards, and Coney Island, with many facing significant community opposition.
A significant obstacle for Cohen is the parkland status of the project site, which complicates development efforts. The Parkland alienation legislation required for such development faces uncertainty. In particular, state Senator Jessica Ramos, a candidate for mayor, has expressed opposition to introducing the necessary legislation, citing residents’ opposition to casinos.
Despite these setbacks, Metropolitan Park spokesperson Carl Rickett remains optimistic. “State procedures have never been designed to allow any individual to unilaterally shut down a project,” Rickett explained, as reported by AmNY. He added: “We have enough time and other ways to get this done, given the overwhelming support of elected officials, unions, and communities, and we can be confident that we can work on the entire project. We are all engaged.”
The proposal continues to be supported by prominent local politicians, including Representative Jeffrey On Aubrey and Councilmember Francisco Moya, who support the project, as it awaits approval from a committee of local elected representatives. 카지노사이트 모음