Renderings courtesy of Silverstein Properties / Binyan Studios
Silverstein Properties said it would develop more than 2,000 apartments through office-to-residential conversions on Manhattan’s west side if its casino bid is awarded a license. The developer announced a partnership with leading conversion developer MetroLoft to build the apartments, which would include 500 permanently affordable units, a day before casino proposals are due. The addition of housing sweetens Silverstein’s $7 billion bid, The Avenir, which calls for a 1,000-room luxury hotel, restaurants, a food hall, and a gaming facility near the Javits Center. The previous plans had proposed 100 affordable apartments located off-site.
The partnership marks the continuation of Silverstein and MetroLoft’s ongoing collaboration, which includes the 2024 transformation of 55 Broad Street, the former Goldman Sachs headquarters, into 571 apartments.
MeroLoft has also led the conversion of the former Pfizer headquarters at 219-235 East 42nd Street into a 1,500-unit rental and the redevelopment of 180 Water Street.
The new homes stem from community feedback from 2022, when Manhattan Community Board 4 issued a report calling for more opportunities to create housing in the area. In recent feedback for the Avenir, the board called for the project to deliver mixed-income housing.
In a press release, the developer said it’s “currently evaluating potential conversion sites and will prioritize projects on Manhattan’s West Side.”
“We are grateful to our local elected officials and Community Board leaders for prioritizing neighborhood housing in this process,” Tal Kerret, president of Silverstein Properties, said.
“Amid a citywide housing shortage, these conversions will create new homes for over 2,000 families.”
Last week, Silverstein revealed that Hyatt will be the hospitality partner for its 1,000-room luxury hotel. The hotel will offer suites with high-end finishes, floor-to-ceiling glass windows, and feature full-service restaurants alongside a food hall highlighting local cuisine.
First unveiled in June 2023, the Avenir initially called for two 46-story towers connected by a fourth-floor sky bridge, with an eight-story casino operated by Greenwood Gaming and Entertainment at its base, as 6sqft previously reported.
In May, Silverstein revealed the project’s latest iteration, which features Rush Street Gaming as the Avenir’s operator, a firm behind other prominent New York casinos, including the Rivers Casino and Resort in Schenectady. However, Greenwood will remain a partner, advisor, and investor in the project.
The developer also unveiled new renderings of the project, designed by CetraRuddy Architecture and Steelman Partners, featuring a podium with a facade of “gentle harmonious waves” topped by a single sculpted 45-story tower, replacing the original two-tower design.
The nine-story base is designed to complement the scale and materials of the surrounding neighborhood. Rising from an open “biophilic” green rooftop, the 45-story tower aims to set a new standard for gaming and entertainment by incorporating natural light and creating a warm, pedestrian-friendly neighborhood fixture, as 6sqft previously reported.
All four facades of the podium are designed to engage the public, displaying art installations that promote pedestrian activity and offer unique experiences. The tower’s sculptural form also creates a welcoming gesture while reducing its perceived mass. Subtle curves along the podium and tower establish a “rhythmic harmony” amidst the dense urban landscape.
Additionally, the project will meet the highest standards for energy efficiency and sustainability, incorporating an all-electric design with no on-site fossil fuel use, as well as high-recycled content and renewable construction materials.
Silverstein’s proposal is one of several high-profile bids for a downstate gaming license, including New York Mets owner Steve Cohen’s $8 billion “Metropolitan Park” next to Citi Field, the Bjarke Ingels-designed Freedom Plaza near the U.N., a Jay-Z-backed Caesars Palace casino in Times Square, and a proposal in Coney Island dubbed “The Coney.”
Formal bids for the downstate casinos are due by Friday, June 27, and will be reviewed by Community Advisory Committees, with votes expected by September 30. Final decisions are anticipated by December 1, followed by licensure from the Commission by December 31, as 6sqft previously reported.
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