Madison Square Garden will have to move sooner than planned, according to the Associated Press.
On Wednesday the New York City Council voted to limit the lease MSG has above Penn Station to 10 years. Many civic organizations, who have been lobbying for renovation of Penn Station, were delighted to hear the news.
The vote was 47-1.
According to the Alliance for a New Penn Station, the council, “has made clear that now is time to get to work and build the Penn Station that New York City and the region desperately need in order to improve transit access and spur economic growth in the city and throughout the region."
Spokeswoman for the Madison Square Garden Co Kim Kerns, said the home of the Knicks, Rangers and Liberty is in the middle of a three year remodeling that will cost almost $1 billion.
"Madison Square Garden has operated at its current site for generations and has been proud to bring New Yorkers some of the greatest and most iconic moments in sports and entertainment," Kerns said.
MSG officials received a letter from Council Speaker Christine Quinn in June, informing them the only way to renovate Penn Station was to have the Garden move to another area.
Madison Square Garden sits on top of Penn Station, the busiest station in the United States. The Garden, which has been up and running since 1968, is the home arena for the New York Knicks (NBA), New York Liberty (WNBA) and New York Rangers (NHL).
Despite the Garden’s rich sports history, many civic organizations believe the arena must move if the train station is to receive the needed renovation.
Vin Cipolla, president of the Municipal Art Society, said a refurbished train station is “the key infrastructure and development project of our time and an essential investment in the future of our city.''
He continued, "Now is the time to make it happen.''
