<P> Garden owners spent $200 million in 1991 to renovate facilities and add 89 suites in place of hundreds of upper - tier seats . The project was designed by Ellerbe Becket . In 2004--2005, Cablevision battled with the City of New York over the proposed West Side Stadium, which was cancelled . Cablevision then announced plans to raze the Garden, replace it with high - rise commercial buildings, and build a new Garden one block away at the site of the James Farley Post Office . Meanwhile, a new project to renovate and modernize the Garden completed phase one in time for the Rangers and Knicks' 2011--12 seasons, though the vice president of the Garden says he remains committed to the installation of an extension of Penn Station at the Farley Post Office site . While the Knicks and Rangers were not displaced, the New York Liberty played at the Prudential Center in Newark, New Jersey during the renovation . </P> <P> Madison Square Garden is the last of the NBA and NHL arenas to not be named after a corporate sponsor . </P> <P> In 1984, the four streets immediately surrounding the Garden were designated as Joe Louis Plaza, in honor of boxer Joe Louis, who made eight successful title defenses in the previous Madison Square Garden . </P> <P> Madison Square Garden's $1 billion second renovation took place mainly over three offseasons . It was set to begin after the 2009--10 hockey / basketball seasons, but was delayed until after the 2010--11 seasons . Renovation was done in phases with the majority of the work done in the summer months to minimize disruptions to the NHL and NBA seasons . While the Rangers and Knicks were not displaced, the Liberty played their home games through the 2013 season at Prudential Center in Newark, New Jersey during the renovation . </P>

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