Featured image credit: Colynary Media on Unsplash
A new proposal has been presented for the redevelopment of Pennsylvania Station which would see a new Madison Square Garden (MSG) built at a different site, and at a cost of $3.5bn (£2.7bn/€3.21bn).
The masterplan has been set out by Grand Penn Community Alliance, an influential interest group, as the latest proposal to solve the challenge of addressing the extensive overhaul that Penn Station, the busiest train hub in the United States, requires.
MSG has existed on top of Penn Station since 1968, with Kathy Hochul, Governor of New York, having first pledged to execute the redesign of the latter, on a fast-track basis, nearly two years ago. Little progress has been made since then, but Grand Penn Community Alliance believes its proposal can be a winner.
Located on the site of MSG, ‘Grand Penn’ includes a new public park, a commuter train hall modelled after the original Penn Station, and a classical façade at the 7th Avenue entrance. The plan is proposing to pay for the construction of a new arena on a site that includes the former Hotel Pennsylvania on 7th Avenue, in exchange for the right to demolish the current Garden creating the ability to expand capacity at the transport hub.
The Alliance believes that moving MSG would cost $3.5bn – $1.3bn to acquire land currently owned by real estate firm Vornado, and $2.2bn to construct a new arena. It adds: “Grand Penn construction should cost $1bn less than the schemes proposed by New York State and Amtrak to expand Penn Station, with the old Madison Square Garden in place above.
“Grand Penn is based on the most logical construction sequence, which is to move MSG first. The NYS/ Amtrak scheme requires extra expenses to keep MSG, needlessly and illogically, in place during construction.
“The extra cost to maintain access and safety to MSG, while trying to rebuild and expand America’s busiest train station directly underneath it, is enormous. The unnecessary cost premium is approximately $4.5bn in total: $3.5bn for the station rebuild and $1bn for the expansion.
“That’s $4.5bn and years of extra inconvenience for passengers and fans alike. And we end up with just a bigger version of the inefficient and potentially unsafe transportation mess we have now.”
Madison Square Garden is owned by MSG Entertainment, whose executive chairman and CEO, James Dolan, also serves in the same role for Sphere Entertainment, developer of the Sphere venues, and Madison Square Garden Sports, whose collection of properties includes the New York Knicks (NBA) and New York Rangers (NHL) franchises.
The Alliance believes a new Garden at a different location is realistic, stating the current venue is now the oldest arena in the NBA, and the least efficient to operate. It also points to the relatively short-term nature of the arena’s license.
This was last extended in 2023, but only for a five-year renewal, half the term of the previous contract and far shorter than the original 50-year deal.
Alexandros Washburn, the former chief urban designer for New York City who is leading the project for Grand Penn Community Alliance, told the New York Times that his group has met with Vornado about buying the proposed site and that they showed interest.
Washburn added a move would benefit MSG because the new site would allow for easier truck access and other modern amenities. A move, he said, could also help Dolan secure a permanent license for the arena after years of negotiating temporary extensions.
Share this