Successor Arena & Demolition
On September 29, 2006, the City of Orlando and Orange County finally came to an agreement on a $1.1-billion improvement package that included $480 million for a new arena. The Magic would provide $114 million in cash and up-front lease payments and guarantee $100 million in bonds toward the arena. The venue plan received final approval on July 26, 2007, and the arena was completed in time for the 2010–11 NBA season. Amway Arena's last day of operation was September 30, 2010, as arena operations then moved to the new Amway Center.
The City of Orlando began demolition of Amway Arena's interior on December 15, 2011, originally planning to take about six months to traditionally demolish the facility. The majority of the building was instead imploded at 7:30 a.m. on March 25, 2012, leaving only the corner columns standing, which would be removed along with the rest of the rubble over the following months. One man was injured after being hit by debris.
Currently, plans call for the remainder of the Centroplex to also be demolished to make way for a "Creative Village" complex on the site. It will be home to digital media companies and related industries. There will be 35% office space, 45% residential space, and 20% for other uses including education, hotels, retail, and entertainment. The goal of the complex is to redevelop the site into "a place where high-tech companies locate; and employees of those businesses and other residents live, work, learn and play."
Read more about this topic: Amway Arena
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