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Atlantic Yards/Pacific Park graphic: what's built/what's coming + FAQ (pinned post)

Developers of TSX Broadway now think a casino will make project viable. So much for USIF telling EB-5 investors that this was "materially safer" than Nassau Coliseum.

A Casino in Manhattan? Strapped Developers Hope So, the New York Times reported today, noting how at least three real-estate developers have floated casino projects in midtown Manhattan, aiming to rescue office developments threatened by the coronavirus crisis and work-from-home trends.

And one involves TSX Broadway, the huge project that has recently seen an influx of money from immigrant investors who'd originally put their funds into the Nassau Coliseum and Atlantic Yards/Pacific Park projects, both orchestrated by the middleman U.S. Immigration Fund, the leading "regional center" under the EB-5 investor visa program.

From the Times:
L&L Holding Company has proposed making a casino the centerpiece of a $2.5 billion tower it is building at the intersection of 47th Street and Broadway, a 46-story development that encompasses a landmark theater and includes a 669-room hotel.

...L&L Holding Company began exploring the idea of a casino after the pandemic began and the economy tanked, according to someone briefed on its proposal. The company has since spoken to a number of operators, that person said. Las Vegas Sands is one of those operators, said another person briefed on the discussions. 
What's striking about that: the U.S. Immigration Fund strongly advised the investors in both the Nassau Coliseum project and "Atlantic Yards III" that the TSX Broadway project was a better investment, more likely to deliver interest and repayment, thus effectuating the process known as redeployment. The language to the Coliseum investors was a "materially safer."

For example, a letter to Coliseum investors included an optimistic assumption: “Despite the impact of the COVID-19 pandemic on construction projects in New York City, the [1568] Project remains reasonably on time to be completed by the third quarter of 2022, which is likely to be significantly after the effects of the pandemic are felt on the economy.”

The scrambling to land a casino to rescue the project contradicts such optimism. 

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