Penn Station plan apparently dead

New York /
Mar.March 27, 2008 05:13 PM

The grand plan to transform Penn Station into Moynihan Station is apparently
dead, as Madison Square Garden
will instead proceed with a renovation, Madison Square Garden Barry Watkins spokesman
told the Sun. The troubled Moynihan Station plan needed vast sums of federal
funding that were never assured and depended on the Garden moving across the
street to the Farley Post Office building. Earlier today, Sen. Charles Schumer said
that the Port Authority should take over the project, and Gov. David Paterson announced
that he would consider the suggestion. But the ambitious plan required the
Garden to move, so that the station could be completely redone and natural
light could reach the new concourses. The Dolan family, which owns the Garden,
had warned that they would move ahead with a renovation if they believed that
the troubled Moynihan Station plan wasn’t feasible. Related Companies and Vornado Realty Trust were partners on the $14 billion plan to remake Penn Station and surround it with new office buildings. 


Related Articles

arrow_forward_ios
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
 Fredrik Eklund and the property (Getty, Steve Frankel)
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Gordon Ramsey and his Lucky Cat restaurant (Lucky Cat)
Gordon Ramsay to open first South Florida restaurant in Miami Beach
Gordon Ramsay to open first South Florida restaurant in Miami Beach
The former Presidio Public Health Hospital (Google)
At these Presidio apartments, you might room with a ghost for $3,700 a month
At these Presidio apartments, you might room with a ghost for $3,700 a month
The HSBC Tower (Google)
Andrew Chung’s Innovo Property Group grabs HSBC building in Bryant Park
Andrew Chung’s Innovo Property Group grabs HSBC building in Bryant Park
Marcelo Claure (Credit: Getty Images)
The $2 billion man? Marcelo Claure seeks top pay from SoftBank
The $2 billion man? Marcelo Claure seeks top pay from SoftBank
You’ll have to shell out another $15M for this private Bahamas island
You’ll have to shell out another $15M for this private Bahamas island
You’ll have to shell out another $15M for this private Bahamas island
(Nestron)
Singapore’s Nestron unveils its biggest — and priciest — tiny home
Singapore’s Nestron unveils its biggest — and priciest — tiny home
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...