#United States #New York #Mohegan #Freedom Plaza #Soloviev Group

Freedom Plaza Expands Affordable Housing Commitment for Midtown East

In a significant move towards enhancing community welfare, the Freedom Plaza project, led by the Soloviev Group and Mohegan, has announced an expansion of its affordable housing plan during a recent public hearing. With a total investment of $11.1 billion, Freedom Plaza aims to reshape Manhattan's East Side while addressing the pressing need for affordable living.

At the second public hearing of the Community Advisory Committee (CAC), it was revealed that the project will now offer a total of 1,080 housing units, increasing its commitment from the initial plans of 1,049 units. Notably, the number of affordable units will rise from 513 to 600, specifically designed to accommodate the needs of working families. This expansion solidifies Freedom Plaza's position as the provider of the most affordable housing units in the area, complete with access to luxurious amenities, putting it at the forefront of development in Manhattan's Central Core.

Michael Hershman, CEO of Soloviev Group, emphasized the project's dedication to the community, stating, “The increase to 600 homes that working people can afford is the direct result of listening to the elected leaders and the community.” The decision to expand the number of affordable units reflects a commitment to ensuring that development benefits local residents and supports middle-class housing needs.

In addition to the housing expansion, Freedom Plaza has announced a new partnership with the Settlement Housing Fund, a nonprofit organization that has successfully preserved over 8,900 homes for low- and moderate-income families since its inception in 1969. The Soloviev Group and Mohegan have committed $1 million to support the organization’s work at Tanya Towers, which provides 138 permanently affordable apartments, catering to diverse groups including residents with disabilities, seniors, and veterans.

Jamie A. Smarr, President of the NYC Housing Partnership, remarked, “Freedom Plaza is setting a new bar for what inclusive community-focused development should look like,” asserting that the project represents a powerful stride towards alleviating New York City’s affordability crisis.

Moreover, the development team presented a comprehensive traffic analysis and mitigation plan, prepared in collaboration with the NYC Department of Transportation (DOT) and the Metropolitan Transportation Authority. The findings indicated that the traffic generated by the project would contribute less than three percent to overall traffic flow on nearby First Avenue, ensuring minimal disruption to the local community. Key measures have been designed to prioritize pedestrian safety while also reducing vehicular access to the site, thus mitigating potential traffic impacts.

To monitor traffic conditions further, Freedom Plaza has committed to implementing a Transportation Monitoring Plan, which will involve regular assessments and quarterly stakeholder meetings to address any emerging issues collaboratively.

Ray Pineault, CEO of Mohegan, highlighted the Spirit of Aquai—principles of welcoming, cooperation, and mutual respect—emphasizing that the expanded commitments promise to create a vibrant, inclusive development that serves the community well.

The mixed-use development promises much more than just housing; it envisions nearly five acres of public open space, diverse shopping and dining experiences, two world-class hotels, and essential community services, including a daycare center and a museum dedicated to democracy. Expected to support 17,000 high-quality union jobs during its construction and operations phases, Freedom Plaza will make a robust economic contribution amounting to $3.2 billion annually.

As exciting as these developments are, community interest and involvement remain paramount. With over 3,000 public comments already submitted to the CAC advocating for the project and substantial backing shown in a recent poll indicating broad support among local residents, Freedom Plaza reflects the essence of community-integrated development. The project not only signifies a response to the pressing need for affordable housing, but also serves as a model for future urban developments destined to prioritize inclusivity and livability in the ever-changing landscape of New York City.

For anyone looking for more information about the Freedom Plaza project, further details can be found at freedomplaza.nyc.