(HedgeCo.Net) Hedge fund executive and billionaire investor Steve Cohen has secured approval to build a massive Metropolitan Park casino complex near Citi Field — a development that may reshape New York’s entertainment, real estate, and local economic landscape. Financial Times
A Major Urban Investment
Approved by the New York State Gaming Commission, Cohen’s $8 billion casino project aims to deliver a hotel, entertainment venues, and hospitality infrastructure — creating tens of thousands of jobs and billions in projected economic activity. Financial Times
Hedge Funds and Urban Economics
Cohen’s venture underscores how hedge fund leaders are increasingly influencing urban development, public policy, and large-scale infrastructure projects. As alternative asset managers accumulate wealth and strategic capital, their reach extends well beyond traditional markets into real estate, entertainment, and civic planning. Financial Times
Community Debate and Regulatory Review
While local governments and business leaders champion the economic benefits, community activists raise concerns over social impacts, regulatory compliance, and sustainability — especially considering Cohen’s past with SAC Capital and insider trading controversies. Financial Times
This project reflects the broader trend of financial titans shaping cityscapes and public policy — a dynamic reshaping American urban centers.