A proposed development containing affordable housing in New York City includes a casino that would be developed by Mohegan, operator of the Mohegan Sun, to generate revenue to offset the cost of housing.
Soloviev Group wants to create a 1,325-home community, which will include 513 permanently affordable housing units, as part of its proposed Freedom Plaza mixed-use development, according to an announcement.
The project site spans more than 6 acres from 38th Street to 41st Street, east of First Avenue.
In addition to two residential towers and a casino, the project also includes a hotel, shopping, restaurants and a museum.
“The revenue generated by the project’s entertainment and hospitality component will allow Freedom Plaza to deliver the affordable housing program and expansive publicly accessible green space, with many more details yet to be announced,” said Ray Pineault, CEO and President of Mohegan.
According to the Commercial Observer, the developer hopes the housing will persuade the New York State Gaming Commission to award one of the three downstate casino licenses for the project.
Soloviev Group describes itself as a socially responsible and environmentally sustainable development company.
