Key New York City Labor Unions Celebrate Freedom Plaza's Step Forward with Initial Community Advisory Committee Meeting

Labor Leaders Express Strong Support for Project's Commitment to Creating 17,000 High-Quality Union Jobs and Economic Growth for New York City

NEW YORK, July 17, 2025 /PRNewswire/ -- Freedom Plaza, the transformative $11.1 billion civic and cultural proposal for Midtown Manhattan's East Side from Soloviev Group and Mohegan, presented today at the initial meeting of the Community Advisory Committee (CAC). Established to foster meaningful dialogue, the meeting featured a comprehensive presentation by the development and design team, further reinforcing the project's continued commitment to transparency and collaboration.

"We appreciate the opportunity to meet with the Community Advisory Committee and share our vision for Freedom Plaza," said Michael Hershman, CEO of Soloviev Group. "Our team has spent several years engaging with the community to develop this proposal, and we're proud to present a project that reflects aligned priorities of good union jobs, affordable housing, open green space, and long-term community investment. We look forward to continued conversations as the CAC process moves forward."

Michael Hershman, CEO of Soloviev Group; Ray Pineault, CEO of Mohegan; Nelson Parker, Chief Strategy Officer of Mohegan; Martin Voelke, Partner at BIG-Bjarke Ingels Group; Allison Harvey, Principal at OJB Landscape Architecture; Alison Matthews, Senior Staff Engineer for Traffic at Langan Engineering and Environmental Sciences; Adnan Pasha, Director of Traffic Engineering at Langan; Jamie A. Smarr, President and CEO of Housing Partnership Development Corporation; and Dan Biederman, President of Bryant Park Corporation and 34th Street Partnership offered detailed briefings and insights into the project's vision, scope, and community impact.

"Today's meeting reflects the spirit of partnership and transparency that defines Freedom Plaza," said Ray Pineault, CEO of Mohegan. "We're honored to present our plans and continue this important dialogue with community representatives."

Independent of today's session, and in addition to their memorandums of understanding with the project, labor leaders representing New York City's working families offered strong statements of support for the project's creation of 17,000 high-quality union jobs during construction and operations, as well as support of nearly 40,000 jobs across the economy.

"SEIU 32BJ welcomes the start of the Community Advisory Committee process for Freedom Plaza, which brings us closer to the meaningful creation of high-quality jobs. Our union has long advocated for developments that raise labor standards and expand opportunities for working New Yorkers, and this is an encouraging step forward," expressed John Santos, Secretary-Treasurer, SEIU 32BJ.

"The start of the CAC process marks an exciting milestone for Freedom Plaza and its potential to bring long-term, stable hospitality jobs to our city. HTC sees real pathways to career development through this project, and we're optimistic about the opportunity it presents for New York's workforce," noted Rich Maroko, President, The Hotel and Gaming Trades Council.

"The Building and Construction Trades Council is pleased to see the process moving forward as it is a major step for New York's working men and women. Every casino that may come to fruition in New York will be built with union labor, ensuring that as the new projects rise, so too will the opportunity to travel the pathway to the middle class for hard working tradesmen and tradeswomen. For that, we are thankful and look forward to these projects continuing to advance," wrote Gary LaBarbera, President, Building and Construction Trades Council of Greater New York.

Freedom Plaza sets a new benchmark for inclusive and equitable development, delivering more affordable housing than any other Manhattan proposal and standing as the only project in the borough to offer open green space. Built entirely with union labor, the development will feature 1,049 new residential units, including 513 units that working families can afford, alongside a food market, daycare, a museum dedicated to democracy, a community center, locally focused retail, and two world-class hotels from Mohegan and the owners of Banyan Tree hotels and resorts, complete with entertainment and modern gaming options for guests 21 and over.

To keep financial benefits rooted in New York, ownership in the proposed gaming facility will be opened to New York City residents, giving individuals the opportunity to share in the project's long-term economic success. In addition, eligible New York state and city employee-related pension funds will receive preferential access to investment opportunities, enabling broader public participation in the economic upside of the development.

The developers will also establish a Community Reinvestment Fund—an independent, community-informed 501(c)(3) governed by a local board. The fund will receive 2% of net profits derived from gaming operations and is projected to generate at least $250 million over the next twenty years.

About Freedom Plaza
Freedom Plaza is a $11.1 billion mixed-use development from Soloviev Group and Mohegan, spanning 6.3 acres from 38th to 41st Street east of First Avenue on Manhattan's East Side. The project will deliver 1,049 new homes—including 513 units that working families can afford—alongside nearly 5 acres of public open space, locally oriented retail, and a wide range of shopping and dining options, plus a daycare center, food market, museum dedicated to democracy, and community center. Two world-class hotels from Mohegan and the owners of Banyan Tree will feature retail, dining, and entertainment, including modern gaming for those 21 and over. Built entirely with union labor, Freedom Plaza will support 17,000 high-quality full- and part-time union jobs during construction and operations and nearly 40,000 jobs overall throughout the economy, while generating $3.2 billion in annual economic impact. For more information, visit freedomplaza.nyc.

About Soloviev Group
Unwavering in its commitment to environmental sustainability and social responsibility, the Soloviev Group brings four generations of successful development across community-focused verticals, including hospitality, residential and commercial development, agriculture, energy, logistics and philanthropy. The firm's most recent project, Freedom Plaza, will encompass more than 6 acres on Manhattan's East Side from 38th to 41st Street east of First Avenue and is committed to helping New York City thrive. The mixed-use development will feature nearly 5 acres of publicly accessible green space; two world-class hotels by global resort leaders Mohegan and the owners of the Banyan Tree hotels and resorts, featuring the option of modern gaming for those 21-and-over; locally oriented retail and an array of shopping and dining options; a museum dedicated to democracy and community center; and two residential towers with housing that working people can afford. For more information, visit freedomplaza.nyc.

About Mohegan
Mohegan is the owner, developer, and manager of premier entertainment resorts in the United States and Canada. Mohegan's U.S. operations include resorts in Connecticut and Pennsylvania and Canadian operations are based in Niagara Falls, Ontario. The brand's iGaming division, Mohegan Digital, provides cutting-edge online gaming solutions to Mohegan's loyal fan base and meets the digital needs of North American customers. Mohegan is owner and operator of Connecticut Sun, a professional basketball team in the WNBA. For more information on Mohegan and its properties, please visit mohegangaming.com.

Visual Assets
Video and high-resolution rendering is available for download here, courtesy Soloviev Group.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

SOURCE The Soloviev Group