A New Era for Times Square: Caesars Unveils Game-Changing Proposal
In more NYC news, SL Green, Caesars Entertainment, Roc Nation and Live Nation have officially submitted their proposal to transform 1515 Broadway into Caesars Palace Times Square, launching a bid to bring a world-class hotel, gaming and entertainment destination to the heart of Manhattan. The plan calls for the adaptive reuse of an existing office building to create a 992-room, five-star hotel with a 150,000-square-foot casino, top-tier dining, a wellness retreat, nightclubs curated by Roc Nation, and a reimagined and newly renovated Broadway theater. With more than $5.4 billion in direct investment and projections of $26.7 billion in local economic impact over 10 years, the project promises to generate more than 6,800 jobs, $7 billion in tax revenue, and a major boost to local businesses.
Dining will be a cornerstone of the guest experience, with restaurants from renowned chefs including Daniel Boulud, Gordon Ramsay, Bobby Flay, Melba Wilson and Lucali’s. The property will also feature Caesars Sportsbook at The 40/40 Club, the luxurious Qua Baths & Spa, and a curated mix of nightlife and entertainment venues designed to reflect the energy of Times Square.
The Caesars Palace Times Square (CPTS) proposal is backed by over 200 organizations including local unions, small businesses, hospitality leaders and Broadway stakeholders. It offers $250 million in community benefits, including a public safety plan, funding for a civil rights museum, affordable housing initiatives and the development of a new Callen-Lorde Center for Excellence in Sexual Health. The project also earmarks $225 million for Broadway support, from increasing ticket sales and revenue to direct aid for workers’ housing, medical debt and childcare.
In a city still recovering from economic setbacks, CPTS offers a bold vision for revitalizing Times Square with a project led by New Yorkers and rooted in community collaboration. Leaders from labor unions, local government and the restaurant and hospitality industries have voiced strong support, highlighting its potential to deliver economic growth, cultural investment and thousands of union jobs across the five boroughs.
Artist renderings by ” Binyan Studios, Motiv and Atlantic Pictures.
