Penn Station plan apparently dead

March 27, 2008 05:13PM

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.