UPDATE: The ambitious Metropolitan Park project, led by New York Mets owner Steve Cohen and Hard Rock International, has gained significant momentum, with a crucial application submitted just before the October 14 deadline. This transformative $8 billion plan aims to convert the parking areas surrounding Citi Field into a major entertainment hub for Queens, promising an astounding $33 billion in tax revenue over the next 30 years.
The project is set to create over 40,000 jobs in Queens, with estimates revealing around 17,000 direct construction jobs and an additional 25,000 indirect positions. Once operational, it will sustain 6,000 permanent jobs, with the overall long-term employment impact potentially exceeding 40,000 positions.
Spanning 50 acres, the Metropolitan Park will include a 25-acre public park, a Hard Rock hotel and casino, a local food hall called “Taste of Queens,” and various retail stores. Major infrastructure upgrades are also planned, featuring a redesigned Willets Point subway station alongside new walkways and bike paths.
On the financial front, the developers are prepared to pay a hefty $500 million license fee upfront, alongside proposing a 25% tax on slot machine earnings and 10% on table game profits. Once fully operational, the casino is projected to generate approximately $3.9 billion annually, yielding around $850 million in taxes for the city and state each year.
Hard Rock International emphasizes its commitment to creating a “world-class destination” and is ready to commence construction immediately upon receiving the necessary license in December. The proposed casino will feature 5,000 slot machines, 375 table games, 30 poker tables, and an expansive 18,000-square-foot sportsbook, making it one of the largest gaming venues in the region.
The project has garnered extensive community support, with the development team conducting 16 public workshops over the past four years, engaging tens of thousands of local residents. Notably, all six nearby community boards have backed the initiative, and the Community Advisory Committee gave its full endorsement last month.
Earlier this year, the project cleared significant legal hurdles when both the City Council and state legislature voted to reclassify the parking lot land, allowing for commercial development. Following MGM Resorts exiting the competition for a downstate casino license, only three candidates remain: Metropolitan Park, Resorts World in South Ozone Park, and Bally’s in the Bronx. The New York State Gaming Facility Location Board is set to announce the winning bids by the end of the year.
Stay tuned for further updates as this exciting project unfolds, promising to reshape the economic landscape of Queens and create thousands of jobs in the process.
