[IMGCAP(2)]The Madison Square Garden renovation is a $500million construction project that will utilize existing space onthe Garden's current footprint. The renovation, which is being paidfor in its entirety by MSG, is scheduled to be completed in timefor the 2011-2012 seasons. The Garden will continue to beoperational during the renovation period. Brisbin Brook Beynon isthe project's architect.

[IMGCAP(3)]MSG has gone back and forth with the feasibility of arenovation project for some time now, Richard Jantz, SVP leadingJLL's team, tells GlobeSt.com. In 2004, GlobeSt.com reportedthat the $300 million plan, at the time, would include changes allover the arena to the concourses, suites, locker rooms and stagingareas, and although Jantz says that some of the amenity changes arethe same, it is a different project. He explains that JLL was hiredover three years ago and the firm has been a consistent advisor tothe Garden, "but we are now project managing a project that'sactually going to happen," he says.

[IMGCAP(4)]Jantz tells GlobeSt.com that JLL's role before wasmore of an advisory role, but now they are fully retained. He notesthat this renovation project is different because "it keeps theoriginal footprint of the building." He notes that JLL hasassembled a team of about five experts to facilitate the projectand lead the effort and they will largely be based at MSG. The teamwill work closely with Madison Square Garden's architects,facilities group, and all construction-related personnel to ensurethat the arena will remain operational during all aspects of thephased construction project.