|Aerial view © Bing|
The park recently obtained permission to build a 190 foot tall observation wheel at a cost of $7 million, which would attract guests looking for amazing views of the ocean. It seems that the plan to obtain permission for the wheel was a necessary part of the deal to get the park sold, per this story.
The park moved just a few hundred feet from its former location in 2013, receiving a new home on much more land with plenty of room to grow. Miracle Strip at Pier Park is home to a wide variety of classic amusement rides and attractions, many of which came from or are very similar to those at the original Miracle Strip park.
A plan has been in place for over a year now to recreate the famous Starliner wooden roller coaster, though this sale may put that ride in jeopardy. The article states that the observation wheel will cater to a wider audience and then perhaps later the wooden coaster could materialize. We'll have to wait and see what happens.