Wynn Resorts Unveils $12B Hudson Yards Project: A Transformative Vision for Manhattan’s West Side

Wynn Resorts Unveils $12B Hudson Yards Project: A Transformative Vision for Manhattan’s West Side

Edited by: TJVNews.com

In a bold and ambitious move, Wynn Resorts has unveiled stunning art renderings for a colossal $12 billion complex set to grace the Hudson Yards, marking a transformative development for Manhattan’s West Side,  as was reported on Wednesday in The New York Post. Spearheaded by real estate giant Related Companies, the proposal promises to reshape the city skyline and redefine the urban landscape with its grandeur and scale.

At the heart of the project stands an imposing 80-story tower, a beacon of luxury and opulence, overlooking the majestic Hudson River. This towering edifice will house a sprawling gaming facility and hotel, setting the stage for a world-class entertainment destination. According to the information provided in The Post report, surrounding the iconic casino skyscraper are meticulously planned office buildings, apartment towers, and a lush 5.6-acre park, creating a harmonious blend of urban sophistication and natural beauty.

The strategic location of the development ensures maximum exposure, with tourists strolling along the iconic High Line—a converted elevated train line turned public park—offering a direct pathway to the site, as per the report in the Post.  Situated between West 30th Street and 33rd Streets and 11th and 12 Avenues, the resort beckons visitors with its awe-inspiring architecture and unrivaled amenities.

From the vantage point of the Hudson River, the design showcases a striking juxtaposition of sleek office buildings and residential towers, further enhancing the allure of the skyline. Moreover, the Post report indicated that the project incorporates essential community elements, including a 750-seat public school, a community facility, and a daycare center, underscoring the commitment to fostering a vibrant and inclusive neighborhood.

According to planners, the Hudson Yards West development is poised to generate significant economic opportunities, boasting an estimated 35,000 union construction jobs and creating 5,000 permanent careers within the resort. As was noted in the Post report, oroponents of the plan argue that the hotel component will serve as a vital destination for visitors attending events at the adjacent Javits Center, thus bolstering New York tourism and driving economic growth.

Jeff Blau, CEO of Related Companies, expressed enthusiasm for the project’s potential to catalyze further economic prosperity and community development. “Hudson Yards has already proven to be an unparalleled catalyst for the New York economy,” Blau remarked, according to the Post. He also cited the project’s track record of creating jobs and fostering innovation. “Moving forward with the second phase of development presents an incredible opportunity to double the impact and provide generational benefits to the State, City, and especially our West Side neighbors,” he added.

Blau emphasized the collaborative partnership between Related Companies and Wynn Resorts, highlighting their shared commitment to realizing a transformative vision for the neighborhood. “We look forward to completing our vision for the neighborhood in partnership with Wynn Resorts,” he affirmed to the Post, noting that comprehensive project plans will be unveiled as part of the application process to New York State.

With CEO Craig Billings leading the charge, the renowned gaming giant is poised to redefine the city’s entertainment landscape and attract a discerning clientele of luxury travelers.

“As the leading designer, developer, and operator of premium gaming resorts in the world, Wynn New York City will attract luxury and aspirational travelers to our destination resort in Hudson Yards,” remarked Billings, as was reported in the Post; emphasizing the allure of Wynn’s renowned hospitality experience. He highlighted the propensity of Wynn guests to spend more during their travels, thereby contributing to increased tax revenues for the city and state, as well as bolstering spending in the local community.

While the exact cost of the project remains undisclosed, previous reports suggest a staggering price tag of up to $12 billion, encompassing expenses associated with building atop the rail yard—a testament to the scale and ambition of the endeavor.

The state’s consideration of up to three casino licenses in the downstate region has sparked intense competition among prospective bidders vying for the coveted opportunity to establish a foothold in the lucrative New York City market, the Post report pointed out. Winning bidders must be prepared to pay a hefty license fee of at least $500 million, underscoring the substantial financial investment required to secure a coveted casino license.

In Queens, billionaire owner of the New York Mets, Steve Cohen, has thrown his hat into the ring with a proposal for a sprawling $8 billion gaming center, hotel, and music venue near Citi Field, aptly named “Metropolitan Park,” according to the information in the Post report. Situated amidst iconic landmarks such as Flushing Corona Park and the U.S. Open Tennis Center, Cohen’s ambitious project has garnered support from Mayor Eric Adams, who views it as a catalyst for economic growth and revitalization in the area.

The expansion plans, announced by the operators Genting, promises to transform the facility at Aqueduct race track in South Ozone Park into a premier entertainment destination, complete with a 7,000-seat concert hall, the report in the Post said.

With a decade-long track record in the Queens neighborhood, Genting is no stranger to the local landscape. The addition of table games to its repertoire would undoubtedly elevate Resorts World’s appeal and solidify its status as a leading player in the gaming industry.

However, Genting isn’t the only player in town vying for a slice of the lucrative New York City casino market. Other developers and casino operators have joined forces to propose projects in prominent locations such as Times Square, Coney Island, and even Ferry Point in The Bronx—where gaming operator Bally’s has recently taken over the golf course from the Trump Organization, as was noted in the Post report. Empire Resorts MGM at Yonkers race track, mirroring Genting’s ambitions, is also in the running for a license to offer table games.

Yet, amidst the flurry of proposals and competition, the biggest challenge facing developers at Hudson Yards may lie in garnering political and community support. The report in the Post highlighted the fact that history serves as a cautionary tale, with former Mayor Bloomberg’s proposed West Side Olympic stadium falling prey to fierce opposition from locals.

State Sen. Brad Hoylman, representing the Hudson Yards neighborhood, emphasizes the importance of aligning any proposed development with the original vision for the site dating back to 2009, the report added. The proposed expansion envisions a consolidation of three buildings instead of six, with increased contiguous park space—an adjustment aimed at addressing community concerns and ensuring harmony with the surrounding environment.

Nevertheless, skepticism looms large, with insiders dubbing the Hudson Yards plan a “long shot” despite its recent momentum. According to the Post, the project’s fate hinges on navigating a labyrinthine process of securing state backing and obtaining approval from city officials—a journey fraught with bureaucratic hurdles and regulatory scrutiny.

As Resorts World New York City embarks on its ambitious expansion journey, the stakes are high, and the competition fierce. With the gaming landscape in New York City poised for transformation, only time will tell which contender emerges victorious in the race for dominance in the bustling metropolis.