Developer tries to sell Albany casino before anxious crowd [View all]

[hrmjustin]

By Matthew McKibben

A public forum last week on developer David Flaum's plan to bring a Las Vegas-style casino to the southern part of Albany proved that Capital Region residents are not yet sold on the proposal.

During a 20 minute presentation Flaum informed the crowd of his plans to "revitalize" Albany with his project simply dubbed "Project E23" by bringing what he says will be 1,800 permanent and 1,500 construction jobs to the region and paying almost $12 million per year in property taxes to local municipalities. The Rochester developer claims he will work with the distressed communities in Albany and hire local union employees to perform jobs such as plumbing and painting.

"Our plan not only represents the most transformative development Albany has seen in more than 40 years, it's something all residents of Albany and the Capital Region can be proud of," Flaum said to a group that struggled to fill the Giffen Elementary school auditorium on Pearl Street in Albany. "We know local support is critical to a successful bid, and we are going to earn that support."

Flaum, who told the crowd he is concerned with addressing the problems facing many communities in Albany, is rumored to have his hands in four other casino projects. According to a New York Times article published last month, Flaum purchased a 120-acre parcel next to the Harriman station on the Metro-North Railroad and just over three miles from the Woodbury Common Premium Outlets in Orange County. The article also says that Flaum purchased 345 acres of land 15 years ago in Sullivan County where he had hoped to build an Indian-run casino. Assemblywoman Patricia Fahy, who represents the city of Albany, said she had read the article and is concerned that Flaum is "just hedging his bets here."

http://www.legislativegazette.com/Articles-Top-Stories-c-2014-04-21-87631.113122-Developer-tries-to-sell-Albany-casino-before-anxious-crowd.html