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Apr. 10, 2013

Fishtown Neighbors Association Approves Wynn Resorts’ $925M Casino Proposal

By Veronica Grecu, Associate Editor

The Fishtown Neighbors Association on April 8 voted in favor of a casino / resort development project that was pitched by representatives of Wynn Resorts Ltd., one of the six casino operators and developers that applied for a gaming license in Philadelphia. The Paradise, NV-based developer wants to put a 60-acre underutilized Delaware riverfront property to a much better and lucrative use: a resort and casino three times larger than Penn’s Landing.

According to PlanPhilly.com, the Wynn Resorts’ proposal includes: a 300-room hotel with an average 900 square feet per room, a 22-acre green park and River Walk, a parking garage with 2,800 spaces and a green roof, several restaurants, a 10,000-square-foot nightclub and a 20,000-square-foot entertainment facility including a high-end spa and a potential ice skating rink. The proposal calls for a separate gaming component that will include a 150,000-square-foot casino with 2,500 slot machines and 100 table games.

If the Pennsylvania Gaming Control Board grants Wynn Resorts’ a gaming license in the city, the $925 million resort and casino tentatively called Wynn Philadelphia will be the largest private project ever constructed in the state. The Philadelphia Real Estate Blog notes that the venture will take two to three years to complete and will create 3,600 construction jobs. Another 3,300 permanent and supplier jobs will be generated once the complex is open.

Rendering of Wynn Philadelphia via PlanPhilly.com

 

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