MSG Renovation Likely to Stall Moynihan Development

April 1, 2008, 5:18 PM EDT

Last week the owners of Madison Square Garden made a surprising announcement: Rather than build a new arena a block away as previously planned, they will renovate their current site. According to an article in the Observer on Thursday, this jeopardizes the development of Moynihan Station—the grand plan for a new and improved Penn Station, which includes expanding into the existing sports facility as well as extending westward into the James Farley Post Office.

Whether the plan for Moynihan Station will stall like the expansion of Javits remains to be seen: In a piece posted yesterday, the Daily News reported that “more than $20 billion worth of high-profile developments across the city ... are dead or at risk of never getting off the drawing board,” and examines the delays hindering projects including the Fulton Street Transit Center, the Atlantic Yards, and Coney Island.

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