TRENTON, N.J. – During the past months, a venture capitalist from Massachusetts has been meeting up with New Jersey leaders discussing a potential casino hotel above the New York Harbor in Jersey City.
Former Reebok CEO Paul Fireman, a venture capitalist of Fireman Capital Partners in Boston proposed a $4.6 billion casino hotel 95 floors above New York Harbor. It will also feature residential units, 107, 500-seat motor sports stadium, and a Ferris wheel billed as the largest wheel in the world.
The city mayor expressed his excitement and told that the development would create 25,000 jobs with over $5 billion investment as the largest construction project in the United States.
“I’m excited about the potential for a world-class facility that includes a casino, hotel and convention center as well as the largest Ferris wheel in the world all located next to the best park in New Jersey,” stated Mayor Steve Fulop.
The mayor also said he needs more information regarding the racetrack to be confident it will not harm Liberty State Park.
According to the state’s leaders, the casino will rise adjacent to the waterfront in the Liberty National Golf Course which Fireman developed in 2006.
“It’s huge. It has the wow factor. It will blow away Macau as a destination place for gaming,” told state Sen. Raymond Lesniak (D-Union).
Assemblyman Ralph Caputo (D-Essex) also expressed that an expensive and massive project like Fireman’s proposal can possibly work.
On the other hand, Friends of Liberty State Park, open space advocacy organization dedicated to the park’s future as a free, green and non-commercial, urban waterfront oasis was concerned the casino would severely impact public access to the Liberty State Park.
“It would seem that inevitable traffic jams would severely negatively impact the public access to Liberty State Park as well as tourist access to the ferries that go to Ellis Island and the Statue of Liberty. We ask that Mayor Fulop demand comprehensive traffic and environmental impact studies alongside public hearings on this project,” said FOLSP President Sam Pesin.
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