Freedom Plaza: A Revolutionary Social Housing and Green Space Initiative in Manhattan

Freedom Plaza: A New Vision for Manhattan



Freedom Plaza is a groundbreaking initiative that represents a monumental shift in the approach to urban development in Midtown Manhattan. Spearheaded by the Soloviev Group and Mohegan, this transformative project is set to enhance the East Side of Manhattan, focusing on creating both affordable housing units and public green space in a city that desperately needs both. With a staggering total investment projected at $11.1 billion, Freedom Plaza promises to deliver significant economic benefits while maintaining a commitment to community values.

The Vision Behind Freedom Plaza



With its submission of a license application to the New York Gaming Facility Location Board, Freedom Plaza is positioned to set new standards for inclusive and equitable urban growth. This project is designed not just to meet the needs of the current population but to address the long-standing issues of affordability and accessibility that have plagued New York City for decades.

Michael Hershman, CEO of Soloviev Group, emphasized the importance of this project by stating, “This application represents years of meaningful listening and collaboration... accessible green space, housing that working families can afford, and well-paying union jobs.” This commitment to listening to community stakeholders reflects the developers’ dedication to building a project that truly serves the people of New York.

Economic and Community Impact



Freedom Plaza isn't just about real estate; it is anticipated to generate an impressive $3.2 billion in annual economic output. The initiative is also expected to create approximately 17,000 union jobs during the construction and operational phases, with nearly 40,000 jobs supported across the economy. The project aims to ensure that these job opportunities are robust and sustainable, providing long-term benefits for the local workforce.

Designed by the prestigious BIG-Bjarke Ingels Group, the mixed-use development will contain 1,049 new residential units, including 513 affordable units. This is a significant addition to Manhattan's housing stock, which is crucial for its working families.

Moreover, the project will feature around 5 acres of public park space designed by OJB Landscape Architecture, catering to the community’s need for recreational space amidst the urban environment. The addition of a food market, daycare center, museum dedicated to democracy, and locally focused retail will provide essential services to the neighborhood, enriching the community fabric.

Commitment to Community and Sustainability



One of the distinguishing aspects of Freedom Plaza is its community-first investment model, which aims to foster long-term economic benefits while keeping them rooted in New York. Ownership of the proposed gaming facility will be available to New York City residents, giving them a stake in this massive transformation. Furthermore, eligible New York state employee pension funds will have preferential access to investment opportunities as a means of encouraging broader public participation in the development’s potential economic upside.

The establishment of a Community Reinvestment Fund is another innovative feature of the project. This independent, community-informed organization will receive 2% of annual gaming profits, projected to amount to at least $200 million over the next two decades. These funds will be reinvested into local initiatives addressing urgent community needs such as housing programs, workforce development, arts and culture, and youth services.

Broad Support for a Bold Initiative



Gaining the backing of 26 labor unions, civic leaders, and community members, Freedom Plaza encapsulates a shared vision for a more equitable and prosperous Manhattan. With its focus on tackling the crucial issues of affordable housing, access to public spaces, and job creation, it stands as a model for future urban developments.

As this project continues to develop, it is essential for community leaders, local residents, and stakeholders to stay engaged and contribute to the discourse around shaping a space that meets the needs of all New Yorkers. By putting community needs at the forefront, Freedom Plaza not only promises to bring positive changes to Midtown Manhattan but also to set a precedent for developments across the nation.

For more information on the Freedom Plaza initiative, visit freedomplaza.nyc.

Topics General Business)

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