The Real Deal Miami

Former Miami Arena site could become revenue-generating park

January 24, 2011 02:51PM

The site of the former Miami Arena in Overtown could become a five-acre park if city commissioners agree to $200,000 in community redevelopment funding to help developer Brad Knoefler get his vision off the ground. Knoefer, who developed a loft and entertainment center adjacent to the parcel, is proposing a musical bandstand, green fields and other amenities for Grand Central Park. He would personally guarantee the $22,917 monthly rent and pay for the development, save for the modest city contribution. In exchange, Knoefer would charge for parking and events to generate revenue. The space would be accessible for free only to residents of the city’s three Community Redevelopment Agencies; others would have to pay a fee. A vote on the CRA funds is scheduled today, and Knoefer says he can have the park ready within 30 days of the project’s approval, documenting the process in his planned documentary, “How to Build A Park in 30 Days.” [Miami Herald]