Resorts World in talks with the city of Miami to lease marina land

Marina would be part of multimillion-dollar redevelopment

Miami /
Dec.December 11, 2017 02:50 PM

Rendering of marina component for Resorts World Miami (Credit: Next Miami)

Resorts World Miami is in talks to lease land where it plans to build a marina, part of a multimillion-dollar redevelopment plan in Miami’s Arts and Entertainment District.

The Genting Group subsidiary wants to lease submerged land that’s owned by the city of Miami and the Florida Department of Transportation, according to the Next Miami. FDOT acquired a portion of the land from the city to build the MacArthur Causeway, and has agreed to deed back the land to the city. The Miami commission will vote on accepting the deed back this week.

Genting owns about 30 acres of land in the A&E District, which is north of downtown Miami. That includes spending $236 million for the waterfront site at 1 Herald Plaza, formerly the Miami Herald building, and $185 million on the adjoining Omni retail and hotel complex.

Resorts World is planning to build a mixed-use project on the former Herald land, which would include two residential towers, a hotel, retail and parking, and an 800-foot baywalk. Last year the developer announced plans to build a mega-yacht harbor with 50 slips in Biscayne Bay along the former Herald site.

The Malaysian gambling giant originally wanted to build a 5,000-room casino resort on the land, but its efforts have been stymied for years. The company has lobbied unsuccessfully for a state a law that would allow the casino development. [The Next Miami] – Amanda Rabines


Related Articles

arrow_forward_ios
Robert Finvarb and Abraham “Abie” Hidary with the site at 2534 North Miami Avenue (Koniver Stern Group)
Hidrock Properties, Robert Finvarb pay $13M for Wynwood site
Hidrock Properties, Robert Finvarb pay $13M for Wynwood site
Aventura Mayor Enid Weisman (Facebook via Weisman, Getty)
Aventura votes to require HOAs to submit critical reports within 48 hours
Aventura votes to require HOAs to submit critical reports within 48 hours
The current Miami Beach North Shore library with Mayor Dan Gelber (Google Maps, Gelber)
Miami Beach seeks buyers for city-owned development sites
Miami Beach seeks buyers for city-owned development sites
Developer David Edelstein and Robert Levine of RAL Development with the project (Getty, RAL)
David Edelstein, partner close on missing piece of Wynwood assemblage for office towers
David Edelstein, partner close on missing piece of Wynwood assemblage for office towers
David Grutman and Pharrell’s Goodtime Hotel had received nearly 30 noise violations (Carma Connected, Getty)
Too much of a good time? David Grutman and Pharrell’s Goodtime Hotel could lose entertainment permit
Too much of a good time? David Grutman and Pharrell’s Goodtime Hotel could lose entertainment permit
Related Companies Chairman Stephen Ross with One Flagler (Related, Getty)
Prayers answered? Related Companies closes on church site for planned office tower in downtown West Palm
Prayers answered? Related Companies closes on church site for planned office tower in downtown West Palm
Grover Corlew principal Mark Corlew with Bank of America Tower in Boca Raton (Grover Corlew)
Grover Corlew buys Bank of America Tower in Boca Raton for $45M
Grover Corlew buys Bank of America Tower in Boca Raton for $45M
The partially collapsed 12-story Champlain Towers South condo building (Getty)
Inside the tug-of-war over the Surfside condo site’s future
Inside the tug-of-war over the Surfside condo site’s future
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...