The long quest to transform Penn Station got a major boost yesterday when the New York City Council voted to renew Madison Square Garden's lease for just 10 years. The Garden's owners had sought an unlimited extension.
"The New York City Council took the first step in a long process to remake Penn Station, Wednesday. It voted overwhelmingly to limit the lease on Madison Square Garden, which sits atop nation's busiest transit hub," reports Jessica Gould. "In a 47-1 vote, the Council decided not to grant the Madison Square Garden company a permit in perpetuity, but instead offered just a 10-year lease renewal."
"City Council Speaker Christine Quinn told reporters she hopes the shorter permit will give the Garden enough time to come up with a plan to move so that improvements can then be made to Penn Station."
"The vote is the culmination of a concerted campaign from urban planners, transportation advocates and civic groups like the Municipal Arts Society and Regional Plan Association who have been framing the shorter lease renewal more as a vote for a hypothetical—and revenue raising—new Penn Station than about a sports arena," adds Gould.
FULL STORY: City Council Limits Lease on Madison Square Garden, Makes Way for a New Penn Station
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