The average 30-year fixed-rate mortgage in August was 6.59%, according to Freddie Mac, down from 6.72% in July and 6.50% one year ago.
With the 5-0 CAC affirmative vote, the Yonkers project now advances for full consideration with the New York State Gaming Location Board.
The agreement underscores the continued strength of Lower Manhattan’s office market, of which Brookfield Place comprises approximately 10% of inventory.
With the 5-0 CAC affirmative vote, the Yonkers project now advances for full consideration with the New York State Gaming Location Board.
YONKERS—This morning, the MGM Empire City Community Advisory Committee unanimously approved the $2.3-billion MGM Empire City project. The Yonkers project is the first downstate gaming proposal to secure CAC approval.
With the 5-0 CAC affirmative vote, the Yonkers project now advances for full consideration with the New York State Gaming Facility Location Board. The Gaming Location Board is expected to reach a decision on all applications by Dec. 1 with the full gaming commission expected to approve up to three full downstate gaming licenses by year’s end. At press time, there are five projects still in the running for a gaming license. The Gaming Facility Location Board received a total of eight applications on June 27.
Prior to the final vote, the CAC, which met at the Yonkers Riverfront Library, unanimously approved the Community Benefits Agreement reached between MGM Empire and the City of Yonkers, which was recently approved by the Yonkers City Council.
MGM Resorts released a statement on it being the first applicant to successfully pass the Community Advisory Committee for its MGM Empire City commercial casino license proposal: “We are grateful to the Community Advisory Committee and our local community for demonstrating their continued support for Empire City Casino. For more than 100 years, Yonkers Raceway and Empire City have been intertwined with the City of Yonkers. We look forward to continuing to drive well-paying jobs for local residents and providing hundreds of millions of dollars in annual education revenue to the State of New York.”
At press time, the Resorts World New York City CAC is scheduled its final vote this afternoon. Bally's Bronx and The Coney are scheduled for final votes on Monday. The CAC for Steve Cohen's The Metropolitan Park project has scheduled its final vote on Tuesday.
Earlier this month, the CACs for the Manhattan-based Freedom Plaza, the Avenir and Caesars Palace Times Square rejected those projects, each by a 4-2 vote.
The average 30-year fixed-rate mortgage in August was 6.59%, according to Freddie Mac, down from 6.72% in July and 6.50% one year ago.
The agreement underscores the continued strength of Lower Manhattan’s office market, of which Brookfield Place comprises approximately 10% of inventory.
HGAR officials noted that its selection “is a testament to the impact of our advocacy, leadership and presence across the region.”
Dais pleaded guilty today in Rockland County Court to forgery and violation of the Home Equity Theft Protection Act (HETPA).
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