The Real Deal Miami

Genting project to launch condo sales by 2014

March 15, 2013 10:00AM

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. The condo tower will include “several hundred units,” the Herald said.

The three towers will run along a 50-foot wide promenade that will connect Genting’s Resorts World Miami project to Museum Park, downtown Miami’s museum development that includes the Patricia and Phillip Frost Museum of Science and the Perez Art Museum of Miami.

“We’ve decided to go with a phased approach,” Thompson told the Herald. “That seems to be more conducive with what’s acceptable in Miami. You start out with the waterfront property and that improves the value across everything else. Then you stay fluid based on what’s happening in the marketplace.” [Miami Herald]Christopher Cameron