The Real Deal Miami

Posts Tagged ‘resorts world miami’

  • The greatest projects never built

    A look at five Miami development plans that bit the dust before they could rise from it
    November 24, 2015 10:30AM
    The Miami Herald’s site was eyed for a grand casino resort.

    The Miami Herald’s site was eyed for a grand casino resort.

    From the October issueIn Miami, dreams of grand, ostentatious projects are often billed as set-in-stone reality by developers hoping to cash in on the city’s volatile real estate market. Yet, whether due to market forces, community opposition or political skulduggery, some “game-changing” projects never have reached the groundbreaking stage. [more]

  • faa-condos

    From left: Renderings of Resorts World Miami and 600 Biscayne

    Eight Miami condominium projects are allowed to continue with construction after the Federal Aviation Administration found that they do not affect air navigation. [more]

  • Genting scales back Resorts World Miami plan

    Company partners with Gulfstream on slots-only casino proposal
    January 08, 2014 10:30AM
    A rendering of Resorts World Miami

    A rendering of Resorts World Miami

    With two months until the Florida Legislature convenes for its 2014 session, Genting Resorts World has dramatically scaled back the gambling component of its resort development planned for the former Miami Herald headquarters in downtown Miami.

    Genting announced a new partnership that would allow the Malaysian company to use a permit owned by the Gulfstream racetrack in Hallandale Beach to open a slots-only casino at the waterfront property, the Miami Herald reported. [more]

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  • Miami Herald building

    The Genting Group plans to launch sales as early as next year at their new condominium project at the soon-to-be-redeveloped waterfront headquarters of the Miami Herald, the eponymous paper reported. Genting also hopes to sign with a four-star hotel operator to develop the project’s third tower by year’s end, Bill Thompson, senior vice president of development for Resorts World Miami, told the Herald.  [more]

  • Resorts World Miami

    Genting Group’s plan to bring a mixed-use casino to 30 acres adjacent to the Adrienne Arsht Center for the Performing Arts in downtown Miami, will not be affected by the firm’s recent $350 million purchase of 87 acres in Las Vegas, the South Florida Business Journal reported. [more]

  • A rendering of Resorts World Miami

    Genting Group officials met with owners and managers of buildings near the proposed site of their casino Friday in hopes of gaining their support for the project, the Miami Herald reported.

    Genting reassured the Building Owners and Managers Association that its Resorts World Miami complex would not contain any office space, which would add to an existing oversupply. [more]

  • A plane at Miami International Airport

    A major selling point for the developers lobbying to bring casino resorts to downtown Miami is the boost it would provide to hotels, restaurants and other staples of the tourism industry.

    But the Miami Herald questions whether the costs of legalizing gambling are really worth whatever benefit it may offer to a vacation industry that just posted its best year ever despite the recession. Miami hotel room revenue rose 14 percent in 2011, the third largest gain in the nation, and hotel tax revenue skyrocketed 29 percent even after a strong 2010. [more]

  • Q & A with Resorts World Miami’s president

    Christian Goode talks about the Miami casino plan, the project’s residential component and the Omni purchase
    November 23, 2011 03:28PM

    Resorts World Miami and its president, Christian Goode

    Malaysian firm Genting made a splash in Miami in May when it paid $236 million for the headquarters of the Miami Herald, aiming to build a destination casino resort, with two Florida lawmakers sponsoring a bill that would make that happen. In the interim, the company has also taken ownership of the nearby Omni mall, all part of what could be a major shakeup for a long-stagnant corner of downtown Miami. To lead the project, dubbed Resorts World Miami, the company named Christian Goode president following his work as CFO at the recently-opened Resorts World New York project. The Real Deal talked to Goode about the progress of the Miami plan, early success at Resorts World New York and the company’s moves in Miami real estate. … [more]

  • Genting’s Resorts World Miami has named its senior management, following the announcement of former Resorts World New York CFO Christian Goode as president. The company, which is planning a casino resort for the downtown Miami site that is currently occupied by the Miami Herald, named seven new officials, including Dan Sternberg as senior counsel, William Thompson as senior vice president for development and Farooq Rehmatwala as vice president of business and community affairs. Ray Valentino has been named the General Manager of the Hilton Hotel, which is located in the Omni project that Genting officially took over last week. — Alexander Britell[more]

  • Related Group CEO Jorge Perez may have made off with a quick $60 million profit on Miami real estate, but he isn’t happy about it, according to the Wall Street Journal. The developer paid $100 million for the first mortgage on the Omni International Mall in May and a few months later Genting bought it from him for $160 million. … [more]