Heat Rouse Strike Deals As Land Development Stalls
Written by Shannon Pettypiece on October 9, 2003
By Shannon Pettypiece
As development of land east of American Airlines Arena stalls, the Heat Group and Bayside Marketplace are scoring parking, retail and advertising deals.
Under new plans, some Miami Heat season ticket holders would get reserved parking across the street at Bayside Marketplace. In addition, the Heat Group, owner of the arena and the team, would operate a store at the marketplace and mall owner Rouse Co. would get discounted in-arena advertising.
In play are 4.5 waterfront acres left vacant after the arena opened in 2000. Rouse had contributed the land in exchange for development on the leftover site and a walkway to link the arena to its Bayside shopping area.
But with the Heat Group last month asking to exit the walkway and land deal, Rouse is looking for something in exchange, said Vice President Raul Tercilla.
"The Heat got the arena and we were suppose to get the bridge," he said.
Mr. Tercilla said Tuesday the Heat and Rouse are negotiating a deal that would reserve parking at Bayside for ticket holders, needed because the arena garage is too small for a sold-out game.
"We will work out an agreement with the Heat in terms of improving the parking arrangement," Mr. Tercilla said.
"The Heat has a good relationship with Rouse and we are talking about a lot of different items," said heat attorney Richard Weiss. "Rouse is our neighbor and we are pursuing a mutually advantageous business matter with them."
The Heat has until Dec. 15 to develop the land but has said it’s willing to leave the deal.
The Miami-Dade County Commission Tuesday extended the Heat’s development rights to mid-December. Initially the Heat had until October to act on the 4-year-old deal.