Mets’ Cohen to Invest $8B in Casino and Park Near Citi Field
After long last, New York Mets owner Steve Cohen announced Tuesday that he intends to invest $8 billion into a casino, entertainment and sports complex adjacent to Citi Field.
The project entitled, Metropolitan Park, has been envisioned as a 50-acre development near the ballpark since it opened to replace Shea Stadium in 2009. The ballpark long had been abutted and blighted to the north by auto chop shops until they were recently torn down.
More from Sportico.com
“It’s time the world’s greatest city got the sports and entertainment park it deserves,” Cohen said in a statement announcing the project. “When I bought this team, fans and the community kept saying we needed to do better. Metropolitan Park delivers on the promise of a shared space that people will not only want to come to and enjoy, but can be truly proud of.”
Cohen intends to partner with Hard Rock International, SHoP architects, Field Operations – a local landscape and urban design practice – and McKissack – the oldest minority and women owned design and construction firm in the U.S.
“Metropolitan Park will be the next great New York City landmark that will transform the area around Citi Field,” Gregg Pasquarelli of SHoP Architects said in the statement.
The current design includes:
20 acres of new park space and 5 acres of community athletic fields and playgrounds.
Climate-ready infrastructure including solar, green roofs, and flood mitigation.
Visionary entertainment complex with a Hard Rock hotel, live music venue, and gaming.
New connections to the waterfront, park, and surrounding community.
Queens food hall.
Accessible and renovated mass transit station.
Improved and modernized road network, bike paths, and parking infrastructure.
Cohen also said the project will generate 15,000 jobs between construction and permanent roles.
“This is an opportunity to bring real investment in local infrastructure, to connect neighborhoods and provide new job opportunities for residents,” Maria Fierro, a local Corona Bank Branch Manager said in the media release. “Metropolitan Park also has the potential to be the engine that spurs further local revitalization and growth for years to come.”
It may not be easy to come by. The 50 acres are principally zoned for parkland and Cohen will have to go through a lengthy public process to earn approval from the New York State Legislature. In addition, New York governor Kathy Hochul will have to sign a law allowing commercial development to occur on that land and state gaming regulators would have to approve the casino plan.
Local lawmakers in the Queens district that includes the ballpark and the adjacent land have yet to back the project, the New York Post noted Tuesday. No endorsements were included in the media release announcing the project.
“I will be hosting another town hall on this proposal at the end of the month. It’s important that my neighbors look carefully at the details, and we’ll continue together with our process,” state Sen. Jessica Ramos, whose district the Willets Point neighborhood, said in a statement.
Cohen purchased the Mets from the Wilpon family for $2.4 billion in October 2020. The cost of Citi Field was $900 million, mostly constructed on private money.
Best of Sportico.com
