Wynn NYC Casino Faces Call to Pull Rezoning Application

  • Comptroller Lander says rezoning is an effort to “undermine”
  • Critics claim new plan lacks community input

Related Cos.’ plans to develop the next phase of Hudson Yard in Manhattan, which includes a bid for casino hotel that would be operated by Wynn Resorts, is facing a call to halt rezoning efforts.

Lander
New York City Comptroller Brad Lander. He’s balking at zoning changes tied to a casino proposal by Related Cos. and Wynn Resorts (Image: Times of Israel)

New York City Comptroller Brad Lander, who has previously spoken on other matters tied casino expansion in the area, noted the proposed rezoning of Hudson Yards would be a negative for the area and cheat the neighborhood out of the number of housing units pledged under a prior agreement with the city.

The proposal to rezone Hudson Yards would undermine one of New York’s greatest urban transformation stories of recent years — and, even worse, dramatically decrease the amount of housing that was agreed upon there, amidst a grave housing affordability crisis,” he said in a statement.

The property developer and the gaming giant added that the plan to bring an integrated resort to the Western Rail Yards area includes 1,500 new housing units, including 324 affordable apartments, as well as a new K-8 public school. Critics of the project claim that when Related reached an agreement with New York City in 2009 to develop Western Rail Yards, it promised to deliver between 3,454 and 5,700 housing units.

Calls for More Community Input

Eleven entities are vying for the three downstate casino licenses New York regulators have yet to award and, for varying reasons, there’s ample opposition to some of those proposals.

Some of the commonalities include the perceived lack of housing and green space accompanying the casino pitches as well as demands for more community input. “Protect the High Line,” a group formed to protect Hudson Yards and the famed High Line Park, believes Related is going back on its original agreement with the city and that the developer hasn’t adequately considered residents’ concerns.

“The proposal, which includes a casino and high-rise towers that would significantly alter the experience of the High Line by obstructing views, reducing sunlight, and eliminating thousands of previously promised housing units,” said the group in a statement. “Unlike the 2009 rezoning agreement—crafted with community input—the new plan was introduced without meaningful engagement from local stakeholders.”

Lander, a favorite of progressive politicians such as Rep. Alexandra Ocasio-Cortez (D-NY) and Sen. Elizabeth Warren (D-MA), said he wants Related to scrap its current proposal and return with a new one featuring more housing units and increased open space. Last July, Lander announced that he’s running for mayor this year.

Housing Central to Some New York Casino Bids

Though not applicable to all of the New York City casino proposals, housing is an increasingly prominent theme attached to some of those plans. The High Line’s rebuke of the Related/Wynn pitch confirms as much.

Rival bidders appear to be taking note. On Wednesday, New York Mets owner Steve Cohen and Hard Rock International, which want to bring the $8 billion Metropolitan Park to Queens, said they’re teaming up with Slate Property Group to potentially 450 affordable housing units two miles from the proposed casino site. Specific to the Related/Wynn pitch, it’s clear it faces plenty of local opposition.

“Over the past year, West Side residents have voiced strong opposition with over 2,000 campaign supporters signing a petition to the City Planning Commission urging that body to reject the rezoning plan,” added Protect the High Line.

Todd Shriber
Todd Shriber Financial Reporter

Todd Shriber is a senior news reporter covering gaming financials, casino business, stocks, and mergers and acquisitions for Casino.org.

Todd got his start in financial markets as a reporter with Bloomberg News. Later, he became a trader at a Southern California-based long/short hedge fund, where he specialized in the trading sector and international ETFs leading up to and during the financial crisis. He joined Casino.org in 2019.

Currently, Todd analyzes, researches, and writes on ETFs for various web-based publications and financial services firms. Shriber has been featured and quoted in Barron's, CNBC.com, and The Wall Street Journal. His work can also be found on Benzinga, ETF Daily News, ETF Trends, MarketWatch, Fox Business, and Nasdaq.com.

He currently resides in Las Vegas, where he enjoys golf and taking his black lab to the dog park. He's also an avid sports fan and likes to wager on college football and the NBA. You can also find him at the three-card poker and roulette table, even though he knows better.

Contact Todd at todd.shriber@casino.org.

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