Penn Station plan apparently dead

TRD 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
(Image by Wolfgang & Hite via Dezeen)

Hudson Yards megadevelopment inspires a new line of sex toys

Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio

Wendy Silverstein (Credit: Getty Images)

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out

Minneapolis tops the list of best places to recover from divorce (Credit: iStock)

The best (and worst) cities for divorcees

Sidewalk Labs CEO Dan Doctoroff and a rendering of the tower (Credit: Sidewalk Labs/Michael Green Architecture and Gensler)

Alphabet’s wooden skyscraper in Toronto could be tallest in the world

Real estate in states where cannabis use is legal is in high demand compared to states where use is illegal. (Credit: Pixabay)

Cannabis legalization drives demand for warehousing and retail: study

Adam Neumann and some of the properties, Museum Place and 225 West Julian in San Jose 

Adam Neumann no longer has a vision for San Jose

Greystar CEO Bob Faith and the Parkside Place Apartments in Cary, North Carolina (Credit: Greystar and Apartments)

What Greystar’s belief in multifamily says about the health of the economy

arrow_forward_ios
Loading...