Moving MSG Could Spur Billions In Development, Report Says

Law360, New York (July 16, 2013, 5:50 PM EDT) -- Moving Madison Square Garden from its current location atop Penn Station could free up the opportunity for billions of dollars in commercial real estate development, according to a report released Tuesday by the Municipal Art Society of New York, which backs a plan to limit the arena's permit for the site.

MAS advocates for creating a Penn Station Redevelopment and Revenue Capture District and related financing package that would incentivize the relocation of MSG, build a new Penn Station, improve Moynihan Station and encourage development in...
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