News: Owners Developers & Managers

Jones Lang LaSalle project manager for $500m Madison Square Garden renovation

Madison Square Garden has secured one of the world's leading real estate and facility management companies in the world, Jones Lang LaSalle, as the overall project manager for the arena's renovation project, slated to begin construction in spring, 2009. As project manager, Jones Lang LaSalle will work with the Garden to oversee all aspects of the renovation, from managing related personnel to establishing and managing the project's timeline, to creation of the overall budget and financial controls, to coordinating the activities of several dozen consultants and construction partners over the renovation period. Madison Square Garden has also selected international construction leader, Skanska, as construction manager for the arena's renovation project.  Skanska will be responsible for pre-construction and construction management services throughout the project in conjunction with Jones Lang LaSalle. The Madison Square Garden renovation is a $500 million construction project that will transform the current Garden into a state-of-the-art venue that will enhance the experience of customers, sponsors, entertainers and athletes.  Utilizing existing space on the Garden's current footprint, the renovation will enhance all customer-related areas, including a dramatically redesigned 7th Ave. entrance; new, more comfortable seats, with significantly better sightlines; new, wider and more spacious public concourses open to the arena bowl, with spectacular views to the city; state-of-the-art lighting, sound and LED video systems in HDTV; new food and beverage options and a greater selection in all hospitality areas; 68 new mid-level suites that are 50% larger than current suites and half the distance to events; 20 new floor-level suites that are on the same level as the playing surface and provide direct access to the best seats in the house; improved dressing rooms, locker rooms, green rooms and production offices for athletes and performers; a new fan party deck in the upper level with expanded and improved hospitality areas that replace the existing upper suites; many additional new restrooms, with 50% more dedicated space and restoration of MSG's world famous ceiling. The renovation, which is being paid for in its entirety by Madison Square Garden, is scheduled to be completed in time for the 2011-2012 seasons.  The Garden will continue to be operational during the renovation period.   Brisbin Brook Beynon is the project's architect.
MORE FROM Owners Developers & Managers

JVP Development names new sales team at 250 West 96th St.

Manhattan, NY JVP Development has appointed Team Arceon, led by Corcoran Top 25 broker Kristen Suh, as the exclusive sales and marketing team for 250 West 96th St., the 131-residence luxury condominium on the Upper West Side designed by renowned Danish designer Thomas Juul-Hansen. The official announcement comes on the heels of 250 West 96th St.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
Hunt Commercial Real Estate Q&A:  Location, location, location? - by David Hunt

Hunt Commercial Real Estate Q&A: Location, location, location? - by David Hunt

In working with our clients, we break down our search objectives into two categories. The first category involves the specific needs of your business such as warehouse height, amount of office space and number of loading
Don’t leave severance damages behind - by Sebastian Jablonski

Don’t leave severance damages behind - by Sebastian Jablonski

When the government takes a portion of a landowner’s property, most assume just compensation stops at the value of the land taken. However, in partial takings, that is only half of the equation.
New York City’s historic rent freeze now rests with the courts - by Ron Cohen

New York City’s historic rent freeze now rests with the courts - by Ron Cohen

New York City’s first-ever two-year rent freeze is now in the hands of a state Supreme Court judge, and the decision could reset income for owners of roughly one million rent-stabilized apartments housing some 2.4 million residents.
NYC's Community Opportunity to Purchase Act is back - and multifamily owners should pay attention - by  Ron Cohen

NYC's Community Opportunity to Purchase Act is back - and multifamily owners should pay attention - by Ron Cohen

New York City’s Community Opportunity to Purchase Act (COPA) is back, and this latest version could have a much better chance of becoming law. The proposal would give qualified nonprofit organizations