On Wednesday, NYC Mayor Eric Adams expressed his willingness to talk with Madison Square Garden owner James Dolan about moving “the world’s most famous arena” amidst the state’s ongoing Penn Station Redevelopment talks.
During a Crain’s New York ‘Power Breakfast’ hosted at the New York Athletic Club, Adams said, “I am open. The Penn Station project is a crucial one. I think that area is ripe for housing, is ripe for real investment. And if that fits into Madison Square Garden moving into another location – maybe we’ll help the Knicks win. So we should be willing to speak with Mr. Dolan and see how it fits into the overall scheme of that area.”
He added that the Pennsylvania Plaza space surrounding MSG could be a great place for new housing stock, admitting he would welcome new development. “I think that we can find the right balance between office and housing. We have to build more housing. There’s a real need for housing in the city and particularly in areas that have access to transportation, good health care, good schools.”
The plan to move the sporting arena is also backed by Gov. Kathy Hochul and was originally a pet project favored by disgraced ex-Gov. Andrew Cuomo.
On the other hand, the plan has also been criticized as a cash grab that will drain city finances and serve to benefit real estate developers.