Real estate investment, development and management firm Silverstein Properties has revealed its plans to develop the Avenir in New York City. The new hotel casino, residential and entertainment complex will be located on the far west side of Manhattan.
Once completed, the Avenir will be home to 600,000 square feet of gaming, restaurant and entertainment space. The complex will consist of two 46-story towers and 1,000 hotel rooms. A public sky bridge will connect two structures.
Company Chairman Larry A. Silverstein discussed the motivation behind the 1.8 million-square-foot project.
He said, “Our city and state face a confluence of historic challenges right now. These include a housing crisis, public safety challenges, budget shortfalls, and a commercial real estate market in transition. We need to work with State and local leaders to do everything we can to make New York the best place to live, work and visit.
“We’ve done it before, and I am confident we can do it again. I’ve always said you should never bet against New York; This city and state will come back bigger and better than ever before.”
The company will collaborate on the Avenir project with Greenwood Gaming and Entertainment, which owns and operates Parx Casino in Pennsylvania.
Greenwood Gaming and Entertainment CEO Eric Hausler commented on the partnership by saying, “We are excited to join with Silverstein Properties to create a gaming, leisure, and entertainment destination that will reflect the unique character and spirit of New York City, and attract visitors from all over the globe.
“We are a company with deep roots in our communities. We look forward to working with the Hell’s Kitchen and Hudson Yards communities’ elected, civic, and labor leaders to create something that serves the neighborhood and its residents.”
