New York Mets owner Steve Cohen has unveiled an ambitious plan to create an $8 billion entertainment complex surrounding the team’s home, Citi Field. Known as Metropolitan Park, this expansive project aims to revitalize the area with a music venue, casino, hotels, and more.
The centerpiece of Metropolitan Park will be a new venue that replaces Citi Field’s current parking lots. In addition to offering ample parking, the venue will feature a wide range of amenities. Visitors can expect top-notch restaurants, a sportsbook, athletic fields for various sports, and even a designated tailgate area.
To enhance the accessibility of the complex, Cohen’s plan includes renovations to the surrounding transit centers. Both the commuter-rail station and subway station serving Citi Field will undergo improvements. These transit lines not only cater to Mets fans but also connect to the Billie Jean King National Tennis Center, home of the U.S. Open Tennis Championship. Additionally, they will serve the soccer stadium that will house NYCFC of Major League Soccer.
Cohen expressed his vision of providing New York City with a world-class sports and entertainment park that matches its stature as the greatest city on earth. “Metropolitan Park embodies our commitment to creating a shared space that people will not only enjoy, but also be proud of,” said Cohen. His aim is to live up to the expectations of fans and the community who sought improvements when he acquired the team.
Collaborating with Cohen on this grand undertaking is Hard Rock International. While the exact breakdown of costs remains unclear, the Metropolitan Park plans outline an estimated budget of $8 billion. It is worth noting that in certain cases, taxpayers have contributed to funding new sports complexes in other states, as seen with the NFL’s Buffalo Bills.
As of now, representatives for Cohen and the New York Mets have not responded to inquiries seeking further comments on this exciting project. But one thing is certain – if Metropolitan Park becomes a reality, it will undoubtedly transform the area surrounding Citi Field into an unrivaled sports and entertainment destination.
Multi-Sport Complex Proposal: An Ambitious Undertaking
The proposed multi-sport complex, known as the Metropolitan Park, has yet to materialize. Its realization hinges upon the approval of the state legislature and the governor. Furthermore, any future casinos within the complex would need to secure licenses from the New York Gaming Commission.
Inspirations from Existing Mega Complexes
While the concept of expansive sports complexes is not novel, the achievements of other professional sports teams provide inspiration. The Golden State Warriors’ Chase Center, completed in 2019 in San Francisco, offers a prime example. Sprawled across 11 acres, this grand complex houses a versatile stadium for both games and concerts. Moreover, it boasts a vibrant array of bars, restaurants, and shopping options. Similarly, the Milwaukee Bucks constructed the Deer District on a 30-acre site in 2017. Alongside the team’s stadium, it features communal spaces for viewing parties, as well as an assortment of dining and retail establishments.
To gain perspective on the Metropolitan Park’s ambitious budget, we can consider the expenses incurred by these notable multi-sport complexes. According to Business Insider, the Chase Center came with a price tag of $1.4 billion for the Warriors owners. In contrast, the Deer District’s real estate plan accounted for a reported total cost of $500 million. These costs pale in comparison to the proposed $8 billion budget for the Metropolitan Park.
The Visionary Behind It All
Steve Cohen, the founder and CEO of Point72 Asset Management, made headlines in 2020 by acquiring the Mets for an astounding $2.4 billion. Notably, this remains the highest recorded franchise sale in MLB history. With a net worth of $19.8 billion, as estimated by Forbes, Cohen’s involvement adds considerable weight to the prospects of bringing the Metropolitan Park to life.