Soloviev Group and Mohegan amend application to deliver an unprecedented response to the housing crisis facing New York City residents.
NEW YORK, Sept. 20, 2025 /PRNewswire/ — Freedom Plaza, the bold $11.2 billion civic and cultural vision for Manhattan’s East Side led by Soloviev Group and Mohegan, today announced a landmark commitment to make 1,080 residential units on site permanently affordable. Reinforced by a legally binding restrictive declaration, this positions Freedom Plaza to deliver the largest number of newly constructed affordable homes in Manhattan’s Central Core in more than a decade.
“We are prepared to answer the call from elected officials that New York City is in desperate need of affordable housing. The heartfelt testimony of neighbors – particularly young people – and the thoughtful input of community and civic leaders reinforces this decision,” said Michael Hershman, CEO of Soloviev Group. “Soloviev and Mohegan believe a gaming license is a privilege and an opportunity to leverage its full economic power to deliver social, civic, and community benefits that would not otherwise be possible.”
According to Ray Pineault, CEO of Mohegan, “Housing is the foundation of stability, and this commitment represents our unwavering investment in New York’s future. Honoring our values and culture, we are proud to join Soloviev Group in delivering a fully affordable, inclusive community that will enrich Manhattan’s East Side for generations to come.”
“By making every single home affordable, Soloviev and Mohegan are addressing New York City’s housing crisis with meaningful action,” said Jamie A. Smarr, President of the NYC Housing Partnership. “I have spent my career advocating for affordable housing, and I did not think I would ever see this type of commitment from private development. This will ensure that working families, seniors, and future generations will have access to quality…