The pair are set to work on a joint development project, operated by Rush Street, on Manhattan’s West Side.
By Will Underwood
Key points:
– Rush Street Gaming and Silverstein Properties have partnered on a proposed Manhattan property development project
– The Aviner will be owned by Silverstein and operated by Rush Street
– The property is situated at 41st Street and 11th Avenue in West Manhattan
A new partnership between Rush Street Gaming and Silverstein Properties has been announced, with the pair set to develop a new complex – the Avenir – on the West Side of Manhattan.
Situated across 92,000 square feet of undeveloped land, the Avenir is planned to be situated at 41st Street and 11th Avenue and is, at present, owned entirely by Silverstein. The project has already received the appropriate land-related approvals and governmental subsidies in order to proceed to its current phase and is set to generate over 4,000 construction jobs in the local area.
Although the press release for the complex does not specify any intentions for the inclusion of a casino, Rush Street’s involvement implies that plans may have been laid out to include one.
However, alternatively proposed casino development projects in the city – such as Wynn Resorts’ Hudson Yard development project, which has now been advanced by the City Planning Commission – have been met with fierce opposition. Indeed, High Line Co-Founder Joshua David labelled the project a “garish Vegas-style monstrosity.”
Speaking on this latest partnership announcement, Rush Street Gaming CEO, Tim Drehkoff, said: “We greatly admire what Silverstein Properties has accomplished in terms of developing important projects in New York City. Our past projects in Pittsburgh, Philadelphia and Schenectady were each the first destination casinos in their respective cities, and we look forward to working with Silverstein, Greenwood and the Far West Side community on the Avenir.”
Good to know: Last Q4, plans to introduce retail casinos to NYC were stifled when Governer Hochul vetoed a bill to expedite the casino bidding process in the city
Also speaking on this development was Silverstein Properties CEO, Lisa Silverstein, who said:
“We are excited to announce our partnership with Rush Street Gaming, as well as Greenwood Gaming and Entertainment to create a home-grown entertainment complex on Manhattan’s Far West Side. The neighbourhoods in which we work and live. Our company has been part of the West Side for over 40 years, and we look forward to continuing to work together on a project that will bring much needed jobs, tax revenue, economic development, and affordable housing to the City and State.”
Silverstein’s previous high-profile development projects include its two decades of civic leadership involvement in the rebuilding of the World Trade Center, Trade One – completed in 2014.