Expanding the train station, the busiest in the nation, is a pressing issue because construction has just begun on a $16 billion pair of rail tunnels under the Hudson River, the centerpieces of a project known as Gateway, which would double the current cross-Hudson capacity.

Under the plan by the Grand Penn Community Alliance plan, Penn Station will move above ground while Madison Square Garden is relocated.

"Grand Penn" features a public space the size of Bryant Park, a train hall inspired by the original Penn Station, and the relocation of MSG across the street.