Larry Silverstein and his real estate company Silverstein Properties recently announced plans to develop a casino in Midtown Manhattan, joining several other major bidders for one of three gaming licenses up for grabs in downstate New York.
Mr. Silverstein has high hopes for his proposal which he said will greatly benefit the Manhattan community and New York City in general.
“Avenir” Project Key Details
Mr. Silverstein has joined forces with London-based businessman Watche “Bob” Manoukian for the casino development named “Avenir”. This would mark Silverstein’s first foray into the casino world, but his partner is no stranger to running gaming operations being the owner of Parx Casino in Pennsylvania.
The Avenir project would feature two 46-storey towers connected by a public sky bridge, a hotel, and a 100-unit affordable housing complex, among other amenities. The base would be an eight-storey complex that would house restaurants, an entertainment area, and a casino.
Ideal Location
The Avenir development will be built at a site at 11th Avenue and 41st Street which is owned by Silverstein. Proponents of the project say it’s the perfect location for a casino as it encompasses neighborhoods but is not really situated at the center of communities.
This means the project would not provoke serious concerns from residents, unlike its rivals, including the Times Square casino proposal from SL Green, Caesars, and Jay-Z.
