JAY-Z’s Roc Nation Pledges $15 Million and Ongoing Profit Grants to Hell’s Kitchen in Groundbreaking Casino Proposal

The team behind the Caesars Palace Times Square proposal, spearheaded by Roc Nation, has unveiled a groundbreaking financial commitment to the Hell’s Kitchen community, including the renowned Manhattan Plaza affordable housing development for artists. Upon approval of its bid, the community would receive an initial $15 million, followed by regular grants based on 0.5% of casino performance.

This plan is part of a larger $250 million community funding promise to support neighborhood priorities like after-school programs, childcare, senior services, and local needs. A trust governed by community residents will oversee the allocation of funds.

The bid for Caesars Palace Times Square emphasizes its dedication to improving Manhattan’s West Side, including Times Square and Hell’s Kitchen. Planned investments will tackle sanitation, security, and congestion management issues.

“We are New Yorkers. Supporting and providing opportunities for our neighborhoods and community isn’t just a part of Roc Nation’s ethos; it’s our collective responsibility,” said Shawn “JAY-Z” Carter. “Any proposal that wins a gaming license will undoubtedly profit. Our vision is to give back to New York and ensure that the Broadway community, Hell’s Kitchen, and the surrounding businesses and areas all benefit. And not just for a minute, but for the long-term.” 

“We partnered with Roc Nation for a reason, and are thrilled to support any Roc Nation-led community initiative that extends the benefits of this project to more New Yorkers,” said Brett Herschenfeld, EVP at SL Green.

The project would reuse the existing building at 1515 Broadway, located in the heart of New York City’s entertainment district, and is designed with a limited number of restaurants and hotel rooms, fostering demand for neighboring businesses.

With over 150 organizations, local businesses, unions, and Broadway stakeholders supporting the bid, the project is positioned as a major win for the community.

The post JAY-Z’s Roc Nation Pledges $15 Million and Ongoing Profit Grants to Hell’s Kitchen in Groundbreaking Casino Proposal first appeared on .

The post JAY-Z’s Roc Nation Pledges $15 Million and Ongoing Profit Grants to Hell’s Kitchen in Groundbreaking Casino Proposal appeared first on .