The more than $11 billion bid for one of New York's downstate casino licenses, Freedom Plaza, has changed its plan to include a lot more reasonably priced housing.

The Soloviev Group and Mohegan are raising the stakes regarding rent-controlled housing that the complex would bring to New York City ahead of tomorrow morning's Community Advisor Committee (CAC) vote on the casino resort aimed at Manhattan's Midtown East.

Freedom Plaza has planned to construct 1,080 residential apartments on-site at the casino to be erected on five acres of undeveloped ground at 38th and 41st Streets between FDR Drive and 1st Ave.  Freedom Plaza changed the offer to include at least 600 affordable units after earlier stating that at least 500 would be rendered "permanently affordable."

Freedom Plaza now claims that all 1,080 of its residential properties will be rent-controlled under the city's Mandatory Inclusionary Housing program, only hours before the six-person CAC decides whether to transfer to the New York Gaming Facility Location Board (GFLB).

"We are prepared to answer the call from elected officials that New York City is in desperate need of affordable housing. The heartfelt testimony of neighbors —  particularly young people — and the thoughtful input of community and civic leaders reinforces this decision,” said Michael Hershman, CEO of Soloviev Group. “Soloviev and Mohegan believe a gaming license is a privilege and an opportunity to leverage its full economic power to deliver social, civic, and community benefits that would not otherwise be possible.”

“Housing is the foundation of stability, and this commitment represents our unwavering investment in New York’s future,” Mohegan CEO Ray Pineault added.

Vote in the CAC

The Community Advisory Committee will decide whether to proceed with the plan tomorrow at 10 a.m. local time following three sessions in which they reviewed Freedom Plaza's development specifics and solicited community comments.

The project will be the first casino bid approved by the GFLB if it receives a three-fifths majority, or four votes.  By December 1st, the GLCB will grant licenses to the three casinos.  Only bids that have CAC support may be taken into consideration by the state panel.

Since Caesars Palace Times Square and The Avenir near the Javits Center lost CAC votes, Freedom Plaza's chances have likely risen over the previous week.  Freedom Center was the final casino bid for Manhattan after those votes.

Details of Freedom Plaza

Two opulent hotels with 1,251 rooms would be part of Freedom Plaza.  A daycare center, almost 31,000 square feet of retail space, 55,745 square feet of convention and entertainment space, more than thirty restaurant and beverage options, and 4.77 acres of public park space incorporated throughout the property through urban landscaping are all included in the resort plan.

Freedom Plaza has stated that the casino floor will be almost 300,000 square feet, although it has not specified how many slot machines and table games it would have.  It would then rank among the biggest casinos in the United States.

According to Freedom Plaza, once it is operating, it will provide 13,403 permanent jobs and 25,875 construction jobs.  Mohegan and Soloviev have promised to provide union employment in both operation and construction.