March 29, 2008

Cablevision announces MSG renovation (again)

One month after the New York Times reported that Cablevision was ready to give up on the faltering plan for a new Madison Square Garden and instead renovate the old one, the owners of the New York Knicks and Rangers did exactly that on Thursday, announcing that they would move ahead with a renovation plan first announced back in 2004. Cablevision didn't provide a whole lot of details back then, aside from giving an overall price tag ($300 million, raised to $350 million this time around), saying they hoped to add more luxury suites, meeting and restaurant space, and a museum and hall of fame, and naming an architect (Brisbin Brook Beynon).

Some observers felt that Thursday's announcement was just a bluff to push state and city officials to revive plans for a new arena in the historic Farley post office building across the street. If so, it worked on one official, as New York City deputy mayor for economic development Robert Lieber declared yesterday, "We need to convince [Cablevision] we can get this thing done" so they'll reconsider their decision. State officials didn't comment, being otherwise occupied passing a budget and remaining unindicted.