(The New York Daily News posted the following article by Lore Croghan on its website on August 4.)
NEW YORK — After 11 years of plans drawn and redrawn, the rebuilding of the James A. Farley Post Office as a stunning new Penn Station is about to get underway.
The state agency in charge of the project is picking a developer to work out a best use of the 60% of the 1.35 million-square-foot landmark that won’t be occupied by railroads or the post office.
It could even become the new home of Madison Square Garden – if the Garden’s owners join the bidding process in a timely way.
Though Cablevision and MSG chiefs Charles and James Dolan plan to renovate their existing facility, they’ve put out feelers about building a new arena at the Farley building, Empire State Development Corp. chairman Charles Gargano told the Daily News editorial board.
“I’m willing to look at anything they have, but I’m not going to delay our project,” Gargano said.
Next month, Empire State will issue a request for proposals for its project to rebuild the two-block-long landmark at Eighth Avenue and 33rd Street as a railway hub to partly replace Penn Station next door. As a first step, it’s issued a call for interested developers to submit their qualifications.
The Dolans are unwilling to acknowledge an interest in the redevelopment project, which was championed by the late Sen. Daniel Patrick Moynihan.
“As it has previously announced, Madison Square Garden has started the process of a major renovation to create a state-of-the-art facility – and will do it without taxpayer money,” Dolan spokeswoman Mary Pat Clarke said.
Gargano said he’s willing to work with the Dolans though they’ve disappointed him before. About three years ago – before the Jets hatched a West Side stadium plan – Gargano approached Madison Square Garden about building on top of an expanded Jacob Javits Convention Center.
“The fact of the matter is they were very, very interested – and then they pulled out,” Gargano said.
At the Farley site, the Dolans face hot competition if they decide to go forward.
Developers that have been invited include Tishman Speyer – which owns Rockefeller Center and the Chrysler Building – and an unrelated firm, Tishman Urban Development. Vornado Realty Trust, Hines and LCOR have also been invited. So was Boston Properties, whose chairman, Mortimer B. Zuckerman, is also chairman and co-publisher of the Daily News. Staubach – chosen as developer of an earlier version of the project – also was invited.
Each will decide what mix of shops or other uses should occupy the 800,000 square feet available to them.
Though Amtrak committed to the project in 1999, the railroad has indicated that it will not participate, Gargano said. The project will go forward anyway.
“We have 90% of the funds to build this project in place,” Gargano said. “If we don’t build it, we lose $300 million in federal aid, and we don’t have a new station.”
The cost of the project is estimated at $1 billion.