The Real Deal Miami

Melo family buys hotel development site adjacent to massive Genting project

March 14, 2013 11:00AM

Resorts World Miami

Argentine real estate investors the Melo Family have nabbed the site across the street from Genting’s 30-acre casino project in the Omni neighborhood for $9.5 million, the South Florida Business Journal said. They will build a combination hotel and residential project on the 43,312-square-foot site adjacent to Resorts World Miami.

The land, on the northeast corner of Northeast Second Avenue and 14th Street, was sold by the Greater Miami Opera, the Business Journal said.

The Melo Group has been active in Miami in recent years, with 800 residential units under construction in the city currently, including at 23 Biscayne Bay and One Plaza at 1800 SW First Avenue, according to previous reports from the Business Journal. [South Florida Business Journal] –Guelda Voien