Labor Unions in New York City Commemorate Progress at Freedom Plaza with Inaugural Meeting of Community Consultation Committee
The Freedom Plaza project, an ambitious $11.1 billion mixed-use development in Midtown East, New York City, is making significant strides with strong community and labour support. Spanning 6.3 acres between 38th and 41st Streets east of First Avenue, the development aims to harmoniously blend residential, commercial, recreational, and entertainment elements, with a focus on community benefit and sustainability.
Key features of the project include:
* **Affordable Housing:** With 1,049 new residential units, 513 will be permanently affordable housing units, developed in partnership with the New York City Housing Partnership to serve working families. * **Public Green Space:** The development will feature approximately 5 acres of publicly accessible parkland, designed by OJB Landscape Architecture, overseen by a community-appointed advisory board. This will be the only public green space among competing casino developments in NYC. * **Casino Component:** The casino footprint covers only 10% of the project and will be underground, with no typical flashy features visible from the street. This aims for a community-focused integrated resort experience rather than a Las Vegas-style casino. * **Community Reinvestment Fund:** An independent nonprofit fund will receive 2% of annual net gaming profits, estimated to generate $200-250 million over 20 years for local initiatives such as housing, workforce development, arts, and youth programs. The fund is governed by a local board reflecting community priorities. * **Ownership Opportunities:** Plans include allowing New York City residents and pension funds to invest directly, with expected public equity between $150 million and $180 million. * **Jobs and Labor:** The entire project will be built with union labor, supported by 26 union labour organizations and workforce development partners, promising over 17,000 local construction and permanent jobs. * **Amenities:** The plan includes two world-class hotels operated by Mohegan and Banyan Tree Resorts, retail, dining, a daycare center, a food market, a museum dedicated to democracy, and a community center. * **Community Engagement:** The project demonstrates ongoing transparency and collaboration via a Community Advisory Committee (CAC), which first met in July 2025 to discuss plans and secure local stakeholder input.
Michael Hershman, CEO of Soloviev Group, attended the initial CAC meeting to share the project's vision. Freedom Plaza represents a large-scale, socially conscious mixed-use development combining affordable housing, green space, economic investment, and community benefits integrated with a modest casino feature designed to respect neighbourhood character and provide accessible opportunities. The project remains in active development with enthusiastic backing from labour unions, local leaders, and civic groups as of mid-2025.
- The Freedom Plaza project, along with its casino component, is not only a significant mixed-use development but also an opportunity for community-focused investing, as New York City residents and pension funds are expected to have the chance to invest directly, with potential public equity ranging from $150 million to $180 million.
- The Freedom Plaza project, with its community reinvestment fund, aims to generate $200-250 million over 20 years for local initiatives such as housing, workforce development, arts, and youth programs, further demonstrating its commitment to real-estate development that goes beyond mere business, with tangible benefits for the community.
