NEW YORK, Sept. 17, 2025 /PRNewswire/ -- In response to the September 17, 2025, Community Advisory Committee votes on Caesars Palace Times Square and The Avenir, Soloviev Group CEO Michael Hershman stated:

"Our extensive planning process is reflective of input from neighbors, local leaders, and civic partners and considers how Freedom Plaza would not only fit into, but better our community. Proposing historic levels of public benefits, the $11 billion project will activate a long-dormant lot with urgently-needed new housing, create a huge public park advancing community connection to the waterfront, bring in dynamic hotels with diverse dining and modern entertainment that will power thousands of union jobs and generate revenues funding hundreds of millions in legally-binding community benefits. A transformative, generational piece of urban planning not seen in NYC in decades, Freedom Plaza embodies our core belief that development must serve the people who live, work, and visit here.

Despite the defeat today of two formidable applicants, we remain confident that one license should be awarded in Manhattan. Attracting more tourists than any other borough, the city should have a fully integrated resort that is fitting of its position as the global capital of the world.

To fully realize the civic goals of this process, our leaders are empowered with the opportunity to deliver the greatest public benefit, increase affordable housing, incentivize critical economic development, create jobs, and strengthen workforce pipelines.

It is the hope of all who support this worthy project—labor unions, faith and nonprofit leaders, parks and civic advocates, residents, and everyday New Yorkers—that our elected and appointed leaders will approve this collaborative plan and continue to work together with the Freedom Plaza partners and community stakeholders to advance this important and visionary project."

About Freedom Plaza
Freedom Plaza is a $11.1 billion mixed-use development from Soloviev Group and Mohegan, spanning 6.3 acres from 38th to 41st Street east of First Avenue on Manhattan's East Side. The project will deliver 1,080 new homes—including 600 units that working families can afford—alongside nearly 5 acres of public open space, locally oriented retail, and a wide range of shopping and dining options, plus a daycare center, food market, museum dedicated to democracy, and community center. Two world-class hotels from Mohegan and the owners of Banyan Tree will feature retail, dining, and entertainment, including modern gaming for those 21 and over. Built entirely with union labor, Freedom Plaza will support 17,000 high-quality full- and part-time union jobs during construction and operations and nearly 40,000 jobs overall throughout the economy, while generating $3.2 billion in annual economic impact. For more information, visit freedomplaza.nyc.

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SOURCE The Soloviev Group