Landmarks Preservation Commission. The venue opened on February 11, 1968. Comparing the new and the old Penn Station, Yale architectural historian Vincent Scully wrote, "One entered the city like a god; one scuttles in now like a rat." In 1972, Felt proposed moving the Knicks and Rangers to a then incomplete venue in the New Jersey Meadowlands, the Meadowlands Sports Complex. The Garden was also the home arena for the NY Raiders/NY Golden Blades of the World Hockey Association. The Meadowlands would eventually host its own NBA and NHL teams, the New Jersey Nets and the New Jersey Devils, respectively. The New York Giants and Jets of the National Football League (NFL) also relocated there. In 1977, the arena was sold to Gulf and Western Industries. Felt's efforts fueled controversy between the Garden and New York City over real estate taxes. The disagreement again flared in 1980 when the Garden again challenged its tax bill. The arena, since the 1980s, has since enjoyed tax-free status, under the condition that all Knicks and Rangers home games must be hosted at MSG, lest it lose this exemption. As such, when the Rangers have played neutral-site games—even those in New York City, such as the 2018 NHL Winter Classic, they have always been designated as the visiting team. In 1984, the four streets immediately surrounding the Garden were designated as Joe Louis Plaza, in honor of boxer Joe Louis, who had made eight successful title defenses in the previous Madison Square Garden. 1991 renovation In April 1986, Gulf and Western announced that they would build a new Madison Square Garden a few blocks away on the site of present-day Hudson Yards. The plan would cost an estimated $150 million and included the demolition of the 1964 building to replace it with a new office tower development. After years of planning, Gulf and Western decided against building a new arena in favor of a renovation after estimated costs doubled throughout the process. 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. The renovation was criticized for perceived corporatization. Additionally, the renovation made bathrooms larger, expanded menus, added a new ventilation system, replaced all of the seats with new cushioned teal and violet seats, and refurbished both home teams' locker rooms. In 2000, current MSG owner,