City Council Gives Green Light to Advance Massive Undertaking in Penn Station District

A proposal initially presented in 2016 took a step forward this week following approvals by the City Council to advance plans for the creation of a new home for Madison Square Garden (MSG) between a pair of supertall skyscrapers near Herald Square, thereby allowing Penn Station to convert the current space utilized by MSG into a new concourse. The new office buildings will be constructed on underbuilt sites on the blocks bound by 6th and 7th Avenue between West 32nd and 34th Streets, with the entire envisioned initiative to also include construction of a new hotel and a residential building. Estimated revenue of $3 billion could be generated by the makeover to pay for the Penn Station undertaking.