More than 150 members of the organized labor movement and leadership from Cirrus Workforce Housing today joined with Resorts World New York City to unveil a groundbreaking agreement to build up to 50,000 units of workforce housing across the five boroughs. This pact represents a major investment from Resorts World New York City, the single-largest employer of Hotel and Gaming Trades Council members, and organized labor to address the Big Apple’s growing shortage of working-class housing.

“Resorts World New York City is committed to quickly addressing the housing crisis many of our employees, neighbors and everyday working New Yorkers face today,” said Kevin Jones, Chief Legal and Chief Strategy Officer, Genting Americas. “Our partnership with Cirrus, labor pension funds, and contractors will ensure there is union-financed, union-built, and union-lived in fair housing across the five boroughs. New Yorkers who power this city deserve nothing less, and we are excited to start investing in a solution that delivers for them.”

“At Cirrus Workforce Housing, our mission is to deliver high-quality, responsibly built housing that gives hardworking New Yorkers the chance to live in the communities they support every day,” said Joseph McDonnell, Managing Partner at Cirrus Workforce Housing. “Our partnership with Resorts World New York City—with the potential to create up to 50,000 units—marks a transformative step for working families who are being priced out of their neighborhoods. We’re proud to have Resorts World join the growing coalition committed to building affordable housing for New Yorkers now, when it’s needed most.”

Resorts World New York City has officially formed a joint venture with Cirrus to invest in this housing commitment, which will focus on large-scale projects across the five boroughs. The new partnership will begin to invest in new housing developments in the immediate term. This is in recognition of the crisis many working-class New Yorkers face right now. To meet this need, Resorts World has made a down payment to build fair housing in a multi-million-dollar commitment not just for its employees but all working-class New Yorkers.

“With far too many New York City families living on the sharp edge of homelessness, this generation affordability crisis can only be solved with an unprecedented investment in building affordable housing,” said Queens Borough President Donovan Richards Jr. “I couldn’t be more grateful to Resorts World New York City and Cirrus for this historic, union-centric agreement to build tens of thousands of units of housing to support working families, and I look forward to working with all our partners to create these homes as rapidly as possible.”

“Our partnership with Cirrus and our fellow investors will deliver accessible, affordable housing that’s financed by, built by, and lived in by working families,” said Gary LaBarbera, President, Building and Construction Trades Council of Greater New York. “The investment of union pension funds into the development of this workforce housing exemplifies labor’s historic role in boosting the middle class, generating family-sustaining careers, and providing our communities with economic stimulus. Hardworking New Yorkers, like our tradesmen and tradeswomen, deserve to live comfortably and raise their families in the city they serve. This generational program now offers a way to make that happen through a unique approach to housing that will improve the lives of countless New Yorkers.”

“Far too many of our 20,000 members cannot afford to live in the housing they skillfully and safely build,” said David Carraballoso, Assistant Executive Secretary-Treasurer and President, New York City District Council of Carpenters. “When the opportunity to invest in the fund Cirrus was creating was brought to us, we finally saw a solution to this dynamic after years of fighting. To have a major union employer like Resorts World make their own investment speaks to the impact this venture will have for generations.”

“We appreciate Resorts World New York City’s commitment to using union signatory contractors on their facilities and equally applaud them joining us as an investor in this endeavor,” said John O’Hare, Managing Director, Building Contractors Association. “The fact that various stakeholders in New York City are coming together to address the housing crisis right now, head on, speaks to the need to get this done. We know our partners in labor, finance, and Resorts World are as excited as we are to get to work.”

In March 2024, Cirrus Workforce Housing announced a memorandum of understanding with the City and the Building and Construction Trades Council to develop workforce housing on public lands using union labor. This agreement laid the foundation for the initiative unveiled today, bringing major investment from Resorts World to supercharge the effort and expand its reach across the five boroughs.

New York City is grappling with a shortage of housing for the very workers who keep it running, including teachers, transit workers, nurses and union tradespeople. Most new housing development targets either wealthy buyers or low-income earners, while middle-income families – those earning between 80 and 140% AMI – have seen a paltry 18% of the city’s new housing investments over the past decade, according to the New York City Rent Guidelines Board. With rents continuing to climb while wages struggle to keep pace, building housing powered by union labor, for union labor, is critical for keeping working families in New York City.

About Resorts World New York City (RWNYC) is the Big Apple’s only casino-hotel and has generated more than $4.5 billion for the State’s public education system since 2011. RWNYC fulfills the decades-long mission to turn the historic Aqueduct Racetrack into a gaming destination with approximately 6,500 slot machines and electronic table gaming. An average 5 million guests pass through RWNYC’s doors annually, where they enjoy an extraordinary gaming, entertainment, and dining experience. In 2021, the 400-room Hyatt Regency JFK Airport hotel at Resorts World New York City opened its doors — bringing the total investment at the site to $1.1 billion. Guests can choose from several dining options including the recently reopened RW Prime and Good Friends Noodle House. RWNYC is operated by the Genting Group, a global company founded in 1965, with destination resorts in the Catskills, Hudson Valley, Las Vegas, Bimini, Malaysia, Singapore, the Philippines, and the United Kingdom. Genting has more than 50 years of experience in the travel and leisure industry and collectively employs approximately 47,000 people while offering an unparalleled resort experience to over 50 million visitors a year worldwide.