MIAMI-After years of planning, work crews have started theenvironmental remediation process to prepare eight acres of land inBicentennial Park for vertical construction. The milestone is afirst step toward the development of new buildings for Miami ArtMuseum and Miami Science Museum.

Construction of Miami Art Museum’s building is scheduled tobegin soon after remediation is completed this November withdelivery planned for 2013. Groundbreaking of Miami Science Museum’snew 250,000-square-foot building by Grimshaw Architects will takeplace in late 2011. The museum is expected to open its doors in2014.

According to Goodkin Consulting/Focus Real Estate Advisors, 74%of the 22,079 residential units built in Downtown Miami since 2003are currently occupied. Will the new complex make any short-termimpacts on Downtown Miami’s real estate market? That depends onwhom you ask.