NEW YORK | Penn Station / MSG Renovation

[NYguy]

https://cb5.org/

[NYguy]

https://www.otdowntown.com/news/trump-ad...eeks-new-name-for-penn-station-LL6058519

Trump Admin Wants to Divert Property Taxes and Seeks New Name for Penn Station


MICHAEL ORESKES
25 JUL 2026

The Trump administration for the first time publicly said it wants to divert New York City property taxes from development projects around Penn Station to help pay for its $8 billion plan to transform the station into a world-class rail hub.

…”New York Penn Station will be rebuilt into a brand-new, world-class station,” Duffy told the Senators.

He asked them to help by authorizing “an additional $1 billion” for design and construction work on the new station. Additionally, he asked the Senators to incorporate into transportation legislation an amendment that would give Amtrak authority to collect what are known as PILOTS, payments in lieu of taxes, from development projects around Amtrak stations.

…..at the time no official put their name to the plan nor did they identify specific development projects, although sources said the prime focus was on a luxury office tower Vornado Realty wants to build across Seventh Avenue, on the site of the Pennsylvania Hotel, which Vornado tore down.

Vornado, the largest property owner in the neighborhood, is a part of Penn Transformation Partners, the consortium that won the competition to be Amtrak’s private partner in redeveloping the station.

The concept of diverting local property taxes to rebuilding Penn Station was original proposed by then Governor Andrew Cuomo, who drew up a plan, known as the GPP, to build as many as ten office towers and devote payments from them in lieu of taxes to Penn Station.

The Vornado tower on the Penn Hotel site was one of the new buildings in the GPP.

That plan is still officially on the books, although it stalled in large part because of the Covid induced real estate crash.

[ChiND]

Considering that the Dolans will be probably getting at least $1.5 billion (and likely more) for the theatre and other areas of MSG, there is no conceivable way that Democrats will ever agree to fund this. THey will characterize it as a corrupt give away to the President's cronies. Further, NY clearly will not give a shekel, as Byford ingenuously hopes without any rational basis therefor. I suspect that this project is DOA.

https://www.chelseanewsny.com/home/penn-...ing-to-be-80-feds-hopes-byford-EE6071372

Penn Station Rebuild Funding to be 80% Feds Hopes Byford
President Trump’s Penn Station Czar Andy Byford made the comments at a virtual town hall meeting held on July 27.
Michael OresekesPenn Station /| 29 Jul 2026

He told the gathering that “a very, very large contribution” would be “required” from the Federal government, and that if adequate funding did not come together in the next few months, he could pull the plug on plans to start construction by the end of next year....

Byford has repeatedly said he still hopes New York State, as well as New York City and New Jersey, will make contributions..

It really will come down to how much can we get the feds to pay for in the first place,” Byford said…

Also, Byford concedes that Penn South is not an option.

The FRA report didn’t delve into long-dormant proposals to expand the station’s footprint by knocking down the block to its south — a concept Byford recently said would be “immoral” to pursue before figuring out the maximum capacity possible within the station’s existing footprint.

“It would have been immoral to tear down a vibrant block of New York City before we had properly evaluated how to extract every ounce of additional capacity out of Penn’s existing footprint,” he said at a recent forum hosted by Manhattan Borough President Brad Hoylman-Sigal. “Maybe we will still need a bit of expansion to top off whatever we achieve, but rather than spend $16 billion on a stub terminal and impose mass relocation of New Yorkers from established homes and businesses — $16 billion that I note had no agreed funding source, yet our own proposal for just half that amount is somehow way more controversial.”

But with Penn Station capacity capping out at 32 trains per hour, proponents of expanding Penn Station see the report as vindication of their position that the existing station can only do so much.

https://nyc.streetsblog.org/2026/07/21/penn-station-ruse-ruse

Not surprisingly, Schumer is not on board.

Senator Schumer plans to block any bills that would rename Penn Station
ByLindsay Tuchman WABC logo
Monday, July 27, 2026 4:35PM

https://abc7ny.com/post/no-trump-station...ck-any-bills-would-rename-penn/19581364/

If MSG's operating permit is not renewed, the most cost-effective and utilitarian option is Grand Penn's elevated park plan with four, huge residential towers on the periphery of the park.

[SammyBaby]

Originally Posted by ChiND

Considering that the Dolans will be probably getting at least $1.5 billion (and likely more) for the theatre and other areas of MSG, there is no conceivable way that Democrats will ever agree to fund this. THey will characterize it as a corrupt give away to the President's cronies. Further, NY clearly will not give a shekel, as Byford ingenuously hopes without any rational basis therefor. I suspect that this project is DOA.

https://www.chelseanewsny.com/home/penn-...ing-to-be-80-feds-hopes-byford-EE6071372

Penn Station Rebuild Funding to be 80% Feds Hopes Byford
President Trump’s Penn Station Czar Andy Byford made the comments at a virtual town hall meeting held on July 27.
Michael OresekesPenn Station /| 29 Jul 2026




Also, Byford concedes that Penn South is not an option.



https://nyc.streetsblog.org/2026/07/21/penn-station-ruse-ruse

Not surprisingly, Schumer is not on board.

Senator Schumer plans to block any bills that would rename Penn Station
ByLindsay Tuchman WABC logo
Monday, July 27, 2026 4:35PM

https://abc7ny.com/post/no-trump-station...ck-any-bills-would-rename-penn/19581364/

If MSG's operating permit is not renewed, the most cost-effective and utilitarian option is Grand Penn's elevated park plan with four, huge residential towers on the periphery of the park.

What's Immoral is not moving Madison Square Garden.
The entire "deal" wreaks of Trump rewarding his pal James Dolan with millions and in turn the people of NYC get a second rate station that will not be compatible with the increased traffic once the new tunnel is completed.
I believe this will never be built as it will stall through the democrats regaining control of the house and senate and perhaps into 2029 when a new democratic president is in office. What this attempt is, is a resurrection of an old inadequate plan that back then wreaked of cronyism, the same cronyism that now has a more powerful Trump involved. I believe this will drag on long enough that MSG's permit will not be renewed and it will ultimately have to move, clearing the way for a proper Penn Station to be built that addresses and satisfies all of the issues this lipstick on a pig rendition leaves out. Additionally, there really is no rush to build a new Penn Station since the new tunnel wont be done until at least 2035. So if the construction of a new and proper Penn Station doesn't begin until even 2030 it will be finished in time for the opening of the new tunnel and Trump will hopefully be dead by then!

[ChiND]

I agree that MSG should move.