Freedom Plaza: Manhattan’s Community-First Gaming Project with a Difference

Community-Centered Vision for Manhattan’s Gaming License

Amidst discussions surrounding extravagant casinos and massive profits, a proposal for a Manhattan gaming license stands out by emphasizing community priorities rather than flashy entertainment.

The Freedom Plaza initiative, backed by the Soloviev Group in partnership with Mohegan, is a substantial $11.1 billion development that intentionally avoids the typical bright lights and spectacle often linked to gambling establishments.

Subterranean Casino Design

Contrary to many gaming projects, Freedom Plaza’s casino will be located below ground level, effectively keeping it out of public view from the streets above.

Initial plans for a Ferris wheel within the project were also removed after local residents expressed concerns. This cautious approach was a conscious decision, according to Michael Hershman, CEO of the Soloviev Group.

Hershman shared that his positive impression of Mohegan came from knowing their family-operated style, which differs from large publicly traded companies, and their desire to avoid creating a carnival-like atmosphere in Manhattan.

Freedom Plaza is among eight contenders vying for three casino licenses in downstate New York. On July 18, Hershman presented the development plans to the Community Advisory Committee.

In late June, MGM Resorts entered the competition with a $2.3 billion proposal to upgrade Empire City Casino into a full-fledged resort featuring live dealers and table games.

Other major bids include a Caesars-backed project in Times Square, in collaboration with Jay-Z’s Roc Nation, alongside entrants from Hard Rock, Bally’s, and other prominent operators.

Community Needs at the Forefront

Spanning 900 pages, the proposal encompasses not only a casino and hotel but also a museum, green spaces, and two residential towers that together offer over 1,000 housing units, with more than half designated as affordable housing.

The initial plan lacked residential options, but the developers revised it to include the highest number of affordable units among all proposals, as well as public green areas, a first for the borough.

Hershman emphasized their local ties, noting that the Soloviev team lives in the district and has family nearby. This connection fuels their sensitivity to the community’s concerns.

He described the project’s evolution, stating that the plan eventually took shape with a renewed commitment to making a positive impact on the neighborhood.

Encouraging Local Ownership

Adding a distinctive element, the project suggests allocating up to 12% of its initial public offering shares to New York City residents. Hershman attributes this idea to a conversation with his son about the Green Bay Packers’ shared ownership model.

This approach aims to provide locals not only with a stake in the development’s success but also an opportunity for financial benefit.

While acknowledging tough competition, Hershman is confident that Freedom Plaza offers the most well-rounded advantages for the community compared to other proposals.