The condo bust hasn't delayed plans to spend hundreds of millions of dollars to reposition an abandoned downtown Miami green area into an international tourist destination planners have dubbed Museum Park.
Located between Miami's main strip Biscayne Boulevard and the bay, civic, government and real estate leaders are moving forward with plans to recast the underutilized 29-acre Bicentennial Park, which hosts the occasional festival or concert, into a must-see destination for locals and visitors alike.
Real estate investors are betting that the new park combined with the recently opened $450 million Performing Arts Center, the American Airlines Arena, and Bayside Marketplace will provide the boost necessary to jumpstart the area where several new condo towers are nearing completion.
In moving toward that goal, leaders of the Miami Art Museum have unveiled the renderings for a new $220 million bayfront home. Renderings for a second museum - a science museum by British architect Sir Nicholas Grimshaw - are in preliminary stages.
Construction is scheduled to begin late next year, and be complete in 2011.
''It's an original Miami building,'' Miami Art Museum director Terence Riley told the Miami Herald. ``It's not New York; it's not London. Right away, it has an iconic quality. But what I'm really excited about is that it appears it's going to be a fantastic museum.''
To view the entire article, go to the Miami Herald.
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