Ferris Wheel in Odaiba

Hello:

Since the big Ferris wheel in Odaiba is
closing sadly. Wouldn't make sense to not put one there.
Are they going to build a new one in it's place？
Just having an arena there would be boring for Odaiba.

I'd agree. The Daikanransha is a trademark to the overall Odaiba scenery, and it wouldn't quite feel the same without it. To answer your question, there seems to be no plans to replace it with a new ferris wheel or any other attraction ride, at least for the forseeable future.

Incidentally I was there today. Didn’t ride the ferries wheel though. However it seems they are tearing down the entire area. A shopping mall has already been torn down. Venus Fort shopping mall closed and Team Lab boardeless will close end of August. I don’t know what plans they have for the area, but there must be some plan if everything around there is closing / been torn down at the same moment.

Sure hope they put something cool there with a new Ferris wheel.
Otherwise Odaiba will not be so cool and just be another town.

LikeBike is correct. The whole Palette Town development is coming down, not just the wheel. In fact the plan to demolish it has been in place for a long time, well over a decade. The plan was to replace it with a convention centre and hotel complex set to open in 2012 if I remember correctly. But things just kept getting delayed and delayed. I don't know why it hasn't happened until now.

You have to bear in mind that large swaths of Odaiba and Ariake have been slowly leaking money since they were developed in the '90s. Plans for the area were mostly made when Japanese people were just throwing money at everything, the bubble burst, and rather than reassess they went ahead with development per the original plan. The area is beloved and has a lot of fun things on offer, but economically it is a weird, largely failed, experiment.

Incidentally the original plan for redevelopment of Palette Town did include a new Ferris wheel, so who know? Maybe there will be one.