The team's owners plan to present city and county officials with a blueprint in April suggesting how the 12-year-old, 17,250-seat, 395,000-sf TD Waterhouse Centre could be converted to a viable commercial enterprise at the same time a new 18,530-seat, 750,000-sf arena is under construction.
Magic owners want the city and county to contribute the bulk of the estimated $250 million construction cost of a new Downtown arena. But Magic officials haven't said yet how much they are willing to commit to such a project.
Previously-reported consultants' studies indicate the existing arena could be retrofitted and expanded for about $110 million or the same amount it cost to erect the structure in 1989. The team rejects that idea because it would need to find an alternate court while the new construction was in progress for about 10 months.
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