There's been talk of what will happen to the Hotel Pennsylvania for a while now, and today the NY Observer reports that the skyscraper planned to take over the 401 Seventh Avenue address could be stopped by preservationists. Since the demolition project needs to be met with public approval it might not bode well that the construction "would entail building over the railroad tracks that run beneath the hotel and pose engineering and security challenges."......

But a schedule does not mean things will happen the right way. NY State officials and the private developers have agreed to project's schedule, which means construction will start this fall, in anticipation of a 2012 opening. However, not all the i's are dotted, as there still needs to be formal approval from Albany. And then there's that whole thing about whether or not Madison Square Garden will move in the Farley Post Office space......