The Real Deal Miami

Museum Park remediation to receive public financing bump

June 24, 2010 02:15PM

The planned Miami Art Museum at Museum Park

The City of Miami has approved a plan to fund the remediation of eight waterfront acres at Museum Park, the future home of new Miami Art Museum and Miami Science Museum facilities. The art museum is eligible for $100 million in proceeds from county bonds, and has raised $45 million in private donations for its new building, which is scheduled for completion by 2013. The science museum is eligible for $165 million in bonds for its planned 250,000-square-foot project, which will have an aquarium, planetarium and interactive exhibits and is slated to open in 2014. The remediation of the land is expected to begin within weeks, according to the city’s Omni Community Redevelopment Agency, which voted to approve the financing. TRD