“It’s so critical to make sure that we’re just not talking our way out of this housing crisis, but that we are building our way out of the crisis, and today, we are doing that,” he said.
In a separate statement, the BP said he “couldn’t be more grateful,” for the investment.
Last year, Resorts World unveiled its plan to expand, should it be granted a casino license.
The plans include an expanded, full-service casino, which they say would be open within months of getting the license. It also includes proposals for 1,600 new hotel rooms, a 7,000-seat arena, clubs, spas, restaurants and 10 acres of green space.
It also included a large-scale meeting room, the largest EV charging installation on the East Coast and what officials called an “innovation center,” which would feature a basketball training program named for Queens-native Kenny Smith, and a community wellness center.
Their pitch also had housing in the form of “Aqueduct Park,” which would bring an additional $5 billion for housing, green space, mass transit improvements and 3,000 housing units specifically for Resorts World workers.
The “new 24/7 community to complement the existing neighborhood” would be built on the land currently occupied by the Aqueduct Racetrack, which is scheduled to be consolidated with Belmont Racetrack in Long Island in the coming years.
Unlike the housing announcement made Thursday, Aqueduct Park is contingent on Resorts World getting the license.
Beyond needing the gaming license, building the housing in Aquedect will face additional hurdles.
Currently, Resorts World isn’t the only one eyeing the state-owned land for development.
During her 2024 State of the Borough Address, City Council Speaker and mayoral candidate Adrienne Adams also proposed building a new neighborhood on the 172-acre site.
“This presents a generational opportunity to transform this site into housing and homeownership, open space, and new community amenities,” the speaker said last year.
Nothing is set in stone for the land though, which will revert back into the hands of the state when Aquedect moves.
Resort’s World isn’t the only casino license bidder betting on housing.
Metropolitan Park – Cohen’s proposal for a casino and entertainment complex next to Citi Field – also attempted to sweeten the deal with some housing in April.
Their proposal would result in the creation of around 450 affordable units in Corona, not far from the planned casino.
“From day one, Metropolitan Park has been Queens-focused, with a comprehensive vision that addresses community priorities and economic needs,” said Cohen in a statement earlier this year. “In addition to creating 23,000 good paying local jobs, we have been committed to working with local community organizations to improve the quality of life for our neighbors.”
Their housing plan is contingent on getting a license.
Resorts World and Metropolitan Park, as well as the approximately 10 other casino bidders, need to submit their final applications to the state’s Gaming Commission by June 27.
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