Related Companies/Oxford Properties Group and Wynn Resorts today revealed project renderings on March 13 for Wynn New York City, a resort that the companies said in a press release “will help complete the Hudson Yards neighborhood and a decades-long revitalization of Manhattan’s West Side.”
The scale is truly massive, even for a Big Apple commercial job. Michael Weaver – Chief Communications and Brand Officer, Wynn Resorts, said in a statement to Electrical Wholesaling, "Although the total development cost for the Western Hudson Rail Yards complex may be as high as $12 billion, as recently reported, the development cost for the Wynn New York City gaming resort is approximately $5.7 billion, excluding licensing fees and financing costs."
The release said the project would create an estimated 35,000 union construction jobs and 5,000 permanent jobs at the resort. Electrical Wholesaling estimates that these 35,000 construction jobs would include approximately 4,550 electrical contractors.
The resort would be built near the Jacob Javits Convention Center at the massive Hudson Yards development and include Class AA office space, accessible open space, affordable housing and a public school. This development adjacent to the resort would be called Hudson Yards West and be developed on a platform that will be built above the railyard between West 30th and West 33rd Streets and 11th and 12th Avenues.
“As the leading designer, developer, and operator of premium gaming resorts in the world, Wynn New York City will attract luxury and aspirational travelers to our destination resort in Hudson Yards. Wynn guests consistently spend more when they travel. That results in greater tax revenues for the City and State and more spend in the local community, all with less foot traffic than might be required at other resorts,” said Craig Billings, CEO of Wynn Resorts, in the press release.