Bally's proposed Bronx casino resort, billed as the largest single private development in the New York borough, is closer to becoming a reality.
A six-person committee, appointed by elected officials, voted 5-1 Monday in favor of Bally’s $4 billion hotel and casino resort at Bally’s Golf Links at Ferry Point in the Bronx.
The project, at 450 Hutchinson River Parkway, would span roughly 16 acres of what are now parking lots and a practice green area of the golf links and would include a 500,000-square-foot gaming facility integrated into a resort with more than 3 million square feet. It would house a 500-room upscale hotel, 3,500 gaming machines, 250 table games and a 2,000-person event center.
Bally's has said the project would create $1.9 billion in economic impact across New York state and yield 15,000 union construction jobs and nearly 4,000 permanent union jobs. The project is projected to bring in over 9 million visitors annually, including 8.2 million from outside the Bronx, which Bally's said would drive "new dollars directly into local businesses."
The support of the committee means Bally’s is the third casino proposal to advance to the next round after the three bids in Manhattan were all dealt losing hands.
Winning unanimous approval from their respective review committees last week were Resorts World New York City’s $5.5 billion expansion plan at Aqueduct Racetrack in Queens and MGM Resorts International’s $2.3 billion bid to transform the historic Empire City Casino in the suburb of Yonkers into a larger gambling destination.
“This is a complex” issue that residents have spoken out about “passionately and contentiously,” said Lisa Sorin, chair of the Bally’s Bronx committee, who also serves as the president of the Bronx Chamber of Commerce. While casting a yes vote, she pointed to the fact that though some 97 of 119 speakers in the two public hearings ahead of the vote voiced their support for the project, only 24 among 131 with written comments did so amid community concerns about traffic, parking, public safety, environmental and other issues.
“The potential upside of this project is significant,” she said, adding that she thinks the pros outweigh the cons.
The Bronx is by far the poorest of New York City's boroughs, and the importance of economic development there weighed on committee members. "I was born and raised in the Bronx," Alex Porco, another member voting yes, said at the meeting, adding that the bid represents the largest community benefit package of any proposal for the Bronx. "I spent virtually my whole life in the Bronx. ... Bronx is constantly overlooked. ... [The project can bring] self sufficiency for the Bronx. ... It can finally put Bronx in control of its own future."
Danielle Volpe, the only member who voted against the proposal, said there’s a “lack of genuine community support” in the area closest to the project, adding that the majority of area residents oppose the bid. “There are real immediate risks,” she said, pointing to traffic congestion and other issues. She also voiced concern about Bally’s ability to see the project through, as she said its credit has been downgraded, among other challenges she said Bally’s faces.
“The affirmative vote is a clear signal that we’ve been able to address key community concerns and build real momentum together,” Bally’s said in an emailed statement to CoStar News.
Similar committees are set to decide the fates of two remaining casino proposals. The vote for developer Thor Equities and its partners’ bid for an approximately $3 billion entertainment and gaming development at Coney Island in Brooklyn is scheduled for Monday afternoon. On Tuesday, a separate committee will vote on the $8 billion bid by Steve Cohen, the New York Mets owner and billionaire hedge fund investor, and his partner, Hard Rock International, to transform some 50 acres of parking lots around the Citi Field baseball stadium in Queens.
The State Gaming Commission has said securing a two-thirds majority vote from a community advisory committee is required before any bid can advance to the next round and be considered by the state’s Gaming Facility Location Board. The final decisions on the proposals are slated to come by Dec. 1.