The Coalition for a Better Times Square has received a significant boost with ten new property owners joining its efforts to support the bid by SL Green, Caesars Palace, and Roc Nation to bring Caesars Palace Times Square to 1515 Broadway. The coalition, which aims to enhance Times Square’s economic vitality and cultural significance, continues to grow with influential property owners endorsing the proposed gaming facility.
Supporting a Gaming Hub in Times Square:
Notable property owners, including Jamestown, Sherwood Equities, owners of One Times Square and Two Times Square respectively, as well as the owners of 5 Times Square, Paramount Building, Soho Properties, Moinian Group, Wharton Properties, RFR, Ian Schrager Company, and Stillman Development, have publicly expressed their support for the bid to introduce a gaming facility at 1515 Broadway.
Times Square: A Fitting Location:
Aby Rosen, RFR Co-Founder and Principal, highlighted Times Square as an ideal location for the gaming industry’s expansion, considering its status as the No.1 tourist destination and hub for entertainment, hospitality, retail, and transportation. The coalition believes that bringing a gaming facility to Times Square will contribute to the neighborhood’s future development and create public and private benefits for the city.
Public and Private Benefits:
The property owners within the coalition recognize the potential benefits of the proposed gaming facility. Charlie Rosenberg, from The Paramount Building, emphasized the positive impact on the neighborhood, including improved quality of life for residents and economic opportunities for local businesses. The coalition asserts that the bid for Caesars Palace Times Square presents a unique opportunity to invest in the future of Times Square.
Once-in-a-Lifetime Opportunity:
With the proposed gaming facility set to be constructed over eight floors of a pre-existing 54-story tower, property owners view this as a once-in-a-lifetime opportunity to contribute to the growth and prosperity of Times Square. The bid is seen as a strategic investment in the future, offering benefits to businesses, residents, and the broader community.
Commitment to Neighborhood Improvements:
SL Green and Caesars Palace have pledged to allocate a portion of gaming revenue towards security, sanitation, and traffic improvements in the area. This commitment aligns with the coalition’s vision for a cleaner and safer Times Square, reinforcing its dedication to investing in the neighborhood’s future.
Growing Momentum and Future Prospects:
As the Coalition for a Better Times Square continues to gain support from property owners, it underscores the widespread backing for a new gaming facility in Times Square. The coalition remains committed to advocating for a vibrant and thriving Times Square, emphasizing the significant benefits that the proposed entertainment destination at 1515 Broadway could bring to the neighborhood and its local businesses.
The Coalition for a Better Times Square’s expansion with the endorsement of ten prominent property owners signals a united front in support of the bid for Caesars Palace Times Square. The collaboration between influential stakeholders and the commitment to neighborhood improvements sets the stage for a transformative and positive impact on Times Square’s future.