Marc Holliday: Well, I’m not speaking about other locations, just speaking strictly about Times Square. I don’t know if the question is rhetorical or not, but I cannot think of a better location in the United States for a high-end gaming entertainment, five-star hospitality, hotel with live entertainment, sports betting, restaurants and outdoor space with which to be able to integrate into the surroundings of what goes on in Times Square, on news even otherwise than in Times Square. I mean I just — it’s — certainly in New York state, certainly in New York City, it couldn’t conceive a better location. I think it’s a district that was actually conceived in its use Group 12, large-format entertainment with the theater overlay, with the mandate of having exciting signage and technology and entertainment uses.
I mean those are all celebrated within this Time Square district and celebrated fairly uniquely in the city. And when you take that very commercial district, and then you layer on top of that unprecedented access to public transportation with 11 subway lines that service Times Square, a block from the Port Authority, which is about to go through its own redevelopment, almost equidistant between Grand Central Penn Station, obviously, new Grand Central Madison, put a plug in for that. And you think about a facility that’s going to be drawing millions and millions of visitors and yet making the least impact because of the ability to maximize usage of public transit relative to almost any other location that might be buying for this word. You put those 2 things together, the incredible nature of the district, the compelling nature for attracting not only domestic tourism, but foreign tourism that will come to New York to gamble at a Times Square Casino, I think it just puts it at sort of the top of the chart.
It’s not to say there aren’t other viable sites. It’s just at the end of the day, it’s going to come down to an analysis about economics, job creation, incremental tourism creation, lease disruption to the surrounding grid. Recall 1515 Broadway is an existing building. It exists it’s built. It doesn’t have to be developed. It doesn’t — it’s not going to displace anything in its place that won’t come at the expense of housing or parks or schools or anything of those lines. It’s a commercial building that exists. So I’m pretty excited that we just have the good fortune to happen to have a site there that is a viable candidate for this casino licensing. It’s going to be very competitive. There’s going to be lots of proposals, I imagine. And there’ll be some real competition, which is what New York City is all about.
And there’s 3 licenses on the table. Hopefully, SL Green and Caesars and Rock Nation will come away with one of them.
Operator: Our next question comment comes from the line of Blaine Heck from Wells Fargo.
Blaine Heck: Times here in the Q&A, you’ve commented about how businesses are still navigating, how they’re going to deal with in-office versus remote work. Are you seeing any signs that tenants are looking at hoteling as a way to more efficiently use their office space? And I guess, do you think the filing strategy could be more widespread in a more hybrid environment.
Matthew DiLiberto: What’s the second part, again?
Marc Holliday: Say the second part again, Blayne, just to let.
Blaine Heck: Yes. It’s just to repeat it, kind of do you think the hoteling strategy is going to be more widespread given that we’re in a little bit more of a hybrid environment?
