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Hochtief wins Madison Square Garden deal

AFP · 16 Jul 2010, 11:38

Published: 16 Jul 2010 11:38 GMT+02:00

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Hochtief's Turner subsidiary is to manage a "full-scale transformation" of the iconic New York arena used for basketball, ice hockey, big boxing bouts, political conventions, concerts and other events, a statement said.

No amount was given but industry sources have said the work, due to take place during three consecutive summer periods, would cost around $775 million (€601 million).

Turner built the original structure in 1968, and will now create "a new entrance and wider concourses with views of the city," the statement said.

A major new element will be two bridges that measure 61 metres (yards) in length and span the space, providing fans with a view from 21 meters above the playing surface.

Sight lines inside the cavernous arena are also to be improved and more comfortable seating installed, while lower level suites are to be enlarged and moved closer to the action.

A new scoreboard, state-of-the-art lighting and LED video systems are also in the works, along with renovated food areas and television broadcasting sites. Turner will also restore the Garden's distinctive domed ceiling, Hochtief said.

Story continues below…

According to the New York Times, the arena will be shut down each year after the New York Knicks basketball team and the Rangers ice hockey team close out their seasons.

Work is to begin in 2011 and be completed in 2013.

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Your comments about this article

15:10 July 16, 2010 by Kayak
Before anyone is mislead into thinking that Hochtief built New York's Madison Square Garden a mere twenty years after they reluctantly called a halt to Hitler's construction/destruction plans in Europe it should be noted that HOCHTIEF acquired Turner in in August 1999.

08:22 July 17, 2010 by vonSchwerin
MSG/Penn Station is a horrendous building. It is one of the worst examples of ugly, depressing mid-century modernist urban architecture. So anything done to the building can only make it better.
16:44 July 17, 2010 by twisted
Given Hochtief''s success in adding millions to the cost of the Hamburg's new symphony hall in the harbor, the citizens of New York better be prepared to see the cost go sky high for this project as well. As someone said, Hochief is really a lawyer's office with a construction section.
06:27 July 18, 2010 by 1FCK_1FCK
$775 million for a basketball/hockey arena? Didn't Arsenal build a giant football stadium for half that or less? Will the seats be made of gold? I'm sure some of the cost will be borne by the city/state as well. Socialism for the filthy rich is the hallmark of govt.
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