The team behind the Caesars Palace Times Square casino bid — SL Green, Roc Nation and Caesars Entertainment — has reversed course on a controversial funding plan that would have funneled $22.5 million and 0.5% of profits in perpetuity to a single city block, Manhattan Plaza, in Hell’s Kitchen.
The change follows W42ST’s July story revealing that the money — part of the project’s $250 million community benefits package — had originally been pledged to the 1,600-unit affordable housing complex. That commitment sparked pushback from other West Side residents and organizations, who argued the benefits should be shared more broadly.
