Property holders in Times Square are uniting in support of the proposed Caesars Palace development, a first for developers to experience such open backing. A group of ten significant property owners have formed the “Coalition for a Better Times Square,” lending their influence to the bid by SL Green, Caesars Entertainment, and Roc Nation to establish a casino at 1515 Broadway. These powerful individuals believe a Caesars Palace would breathe new life into the district and solidify Times Square’s standing as an international entertainment destination. A major figure in Times Square, Aby Rosen, highlighted the area’s strategic position and deemed the casino mutually beneficial for both the city and private enterprises. The notable roster of advocates includes industry giants like Jamestown, Sherwood Equities, and the proprietors of renowned landmarks such as the Paramount Building. Charlie Rosenberg of the Paramount Building encapsulated the shared feeling, affirming that everyone desires to witness Times Square flourish and retain its place as a dynamic entertainment core.
Consequently, we’ve partnered with the Times Square Alliance to endorse the proposal for a gaming establishment at 1515 Broadway. Being situated near the intended location, we’ve meticulously evaluated the potential effects of this endeavor on our vicinity. The casino is slated to occupy eight levels within an existing 54-story structure. As we delved deeper, we recognized this as an unparalleled chance to rejuvenate Times Square and yield tangible advantages for those residing and working here,” stated Marc Holliday, Chairman and CEO of SL Green.
He elaborated that their occupants, comprising eateries, independent enterprises, and theatrical entities, are poised to substantially profit from the heightened pedestrian flow and commercial surge a Caesars casino would generate.
Both SL Green and Caesars have committed to allocating a portion of the casino’s earnings back into the district, addressing apprehensions regarding security, cleanliness, and commuting.
The Times Square Alliance reiterated this perspective, highlighting the widespread public backing for a novel entertainment destination at 1515 Broadway. They contend that this initiative will be a boon for local commerce and contribute to a more pristine, secure, and dynamic Times Square, solidifying its status as the entertainment epicenter of New York City.
