After spending $780,000 and many years of planning to create what was hoped to be a bustling promenade within Park West's so-called entertainment district, the Southeast Overtown/Park West CRA has sold the space to two separate bidders for a total of $10.16 million. An affiliate of the nearby Miami Worldcenter bought the smaller portion for $3.78 million after Marc Roberts and the Simkins family picked up the larger half for $6.38 million last November.
According to a 2004 plan, the Promenade, a railroad right-of-way between NE 10th and 11th Streets and NE 1st Ave. and NW 1st Ave., was to be a "genuine 24-hour environment...that celebrates Miami's diverse pop culture and music scenes." The CRA tore up the rail tracks and installed lighting and landscaping. Outdoor eateries and night clubs were to replace vacant warehouses and liquor stores. The alley was physically transformed but the higher ambitions of the project's authors and architects—to enliven a sad-looking area and draw people into Overtown for legitimate reasons at night—never happened. Here's hoping the new owners have more success.
· Miami Worldcenter Affiliate Buys 'Grand Promenade' From CRA [exMiami]
· The Promenade Special Area Plan [Miami CRA]