With casino bid on the horizon, Resorts World bets on housing
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Resorts World Casino in Queens announced plans to help invest in building 50,000 units of workforce housing across the city as they appeal to the state for a casino license. Eagle photo by Ryan Schwach
By Ryan Schwach
Resorts World New York City anted up this week, announcing its plan to help build 50,000 units of workforce housing as it prepares its bid to score one of the three lucrative downstate casino licenses to soon be handed out by the state.
On Thursday, Resorts World, elected officials and union leaders announced a sweeping investment to build 50,000 units of housing designed for the middle class in all five boroughs.
While the workforce housing plan is not directly tied to Resorts World’s application to secure a downstate casino license, it likely will only sweeten their pitch in the eyes of the state board handing out the approvals.
Separately from the Thursday announcement, Resorts World’s pitch to the state also includes housing – as does Queens’ other bidder, Steve Cohen’s Metropolitan Park.
The Malaysian-based gaming company is investing millions into the plan – although they declined to give the exact dollar number – and promised to construct it using 100 percent union labor.
The housing is intended for New York City's working middle class, with a priority toward union laborers, many of whom will be building the apartments. The casino company plans to build the housing alongside Cirrus Workforce Housing Advisors.
“Resorts World New York City is committed to quickly addressing the housing crisis many of our employees, neighbors and everyday working New Yorkers face today,” said Kevin Jones, chief legal and chief strategy officer of Genting Americas, Resorts World’s parent company. “[We] will ensure there is union-financed, union-built, and union-lived in fair housing across the five boroughs. New Yorkers who power this city deserve nothing less, and we are excited to start investing in a solution that delivers for them.”
Where the housing will be is yet to be determined.
Almost the entire lobby at Resorts World in Queens was packed with union members, who the developers say will directly benefit from both the construction of the housing and the housing itself.
President of the Building and Construction Trades Council of Greater New York, Gary LaBarbera, proclaimed it “one of the most important announcements we've ever made.”
“We're going to build your future, you're going to build your future, and you're going to create opportunities for generations to come,” he told union members at the announcement.
Queens Borough President Donovan Richards, who has long been an advocate for Resorts World – and has expressed desire for Queens’ proposals to be the ones to get casino licenses – also applauded the new efforts.
Officials including Borough President Donovan Richards applauded Resorts World New York’s proposal to help build affordable housing in the city. Eagle photo by Ryan Schwach
“It’s so critical to make sure that we're just not talking our way out of this housing crisis, but that we are building our way out of the crisis, and today, we are doing that,” he said.
In a separate statement, the BP said he “couldn’t be more grateful,” for the investment.
Last year, Resorts World unveiled its plan to expand, should it be granted a casino license.
The plans include an expanded, full-service casino, which they say would be open within months of getting the license. It also includes proposals for 1,600 new hotel rooms, a 7,000-seat arena, clubs, spas, restaurants and 10 acres of green space.
It also included a large-scale meeting room, the largest EV charging installation on the East Coast and what officials called an “innovation center,” which would feature a basketball training program named for Queens-native Kenny Smith, and a community wellness center.
Their pitch also had housing in the form of “Aqueduct Park,” which would bring an additional $5 billion for housing, green space, mass transit improvements and 3,000 housing units specifically for Resorts World workers.
The “new 24/7 community to complement the existing neighborhood” would be built on the land currently occupied by the Aqueduct Racetrack, which is scheduled to be consolidated with Belmont Racetrack in Long Island in the coming years.
Unlike the housing announcement made Thursday, Aqueduct Park is contingent on Resorts World getting the license.
Beyond needing the gaming license, building the housing in Aquedect will face additional hurdles.
Currently, Resorts World isn’t the only one eyeing the state-owned land for development.
During her 2024 State of the Borough Address, City Council Speaker and mayoral candidate Adrienne Adams also proposed building a new neighborhood on the 172-acre site.
“This presents a generational opportunity to transform this site into housing and homeownership, open space, and new community amenities,” the speaker said last year.
Nothing is set in stone for the land though, which will revert back into the hands of the state when Aquedect moves.
Resort’s World isn’t the only casino license bidder betting on housing.
Metropolitan Park – Cohen’s proposal for a casino and entertainment complex next to Citi Field – also attempted to sweeten the deal with some housing in April.
Their proposal would result in the creation of around 450 affordable units in Corona, not far from the planned casino.
“From day one, Metropolitan Park has been Queens-focused, with a comprehensive vision that addresses community priorities and economic needs,” said Cohen in a statement earlier this year. “In addition to creating 23,000 good paying local jobs, we have been committed to working with local community organizations to improve the quality of life for our neighbors.”
Their housing plan is contingent on getting a license.
Resorts World and Metropolitan Park, as well as the approximately 10 other casino bidders, need to submit their final applications to the state’s Gaming Commission by June 27.
