This marks the initial instance where other developers and property owners have openly expressed their endorsement for the project.
Ten additional property owners in Times Square have united to form the Coalition for a Better Times Square, showing their endorsement for the initiative led by SL Green, Caesars Palace, and Roc Nation to establish Caesars Palace Times Square at 1515 Broadway.
Aby Rosen, Co-Founder and Principal of RFR, emphasized the unparalleled suitability of Times Square as the starting point for the gaming industry, given its status as a premier tourist destination and a central hub for entertainment, hospitality, retail, and transportation. Rosen affirmed their support for the Coalition for a Better Times Square, expressing confidence in the project’s ability to generate public and private benefits for the city.
Among the ten companies publicly supporting the cause are Jamestown, owner of One Times Square, and Sherwood Equities, owner of Two Times Square, along with the proprietors of 5 Times Square, Paramount Building, Soho Properties, Moinian Group, Wharton Properties, RFR, Ian Schrager Company, and Stillman Development.
Charlie Rosenberg from The Paramount Building underscored the collective desire to see Times Square thrive economically and retain its status as an entertainment hub. He explained that their support for the bid for a gaming facility at 1515 Broadway, as part of the Coalition for a Better Times Square, reflects careful consideration of the potential impact on the neighborhood.
The proposed Caesars Palace Times Square would be housed within eight floors of an existing 54-story tower. Rosenberg highlighted the project as a unique opportunity to invest in the future of Times Square, benefiting local businesses and enhancing the quality of life for residents in the area.
SL Green and Caesars Palace have committed to allocating a portion of gaming revenue for security, sanitation, and traffic improvements in the vicinity. The Coalition for a Better Times Square spokesperson emphasized the broad support from neighbors for a new gaming facility and the substantial benefits expected from the proposed entertainment destination at 1515 Broadway. The coalition remains dedicated to advocating for a cleaner, safer Times Square and investing in the continued prominence of the neighborhood as the entertainment center of New York City
