Miami marina development planned by Genting Group advances

City commissioners agreed to accept a deed to submerged land that Miami would lease to the Malaysian company

TRD MIAMI /
Jan.January 06, 2018 09:15 AM

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

The Miami City Commission took a step toward clearing the way for a marina development along Biscayne Bay just north of downtown Miami.

The commission agreed to accept a deed for submerged land in Biscayne Bay, which the city would lease along with other submerged land for a marina development by Malaysia-based Genting Group.

Genting wants to lease the submerged land for a marina on the waterfront site formerly occupied by the Miami Herald daily newspaper at 1 Herald Plaza.

Genting bought the former Miami Herald site in 2011 for $236 million. The company also bought the nearby Omni retail and hotel complex for $185 million.

A Genting subsidiary is negotiating to lease the submerged land owned by the city of Miami and the Florida Department of Transportation (FDOT) for the development of a 50-slip mega-yacht marina.
FDOT, which acquired a portion of its submerged land from the city to build the MacArthur Causeway, has agreed to transfer ownership back to the city.

The Miami City Commission voted unanimously to direct the city manager to accept the deed for FDOT’s submerged land, which would be leased along with other submerged land to Genting.

The city is negotiating terms of the lease with Genting subsidiary Resorts World Miami LLC. Resorts World also 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 walkway along the bay. [Miami Today]Mike Seemuth


Related Article

arrow_forward_ios

Bayside Marketplace is planning another high-rise entertainment venue with a view

Co-working space operator picks up low-rise office building in Edgewater for $20.6M

Co-living development for the creative class is coming to Wynwood

The Vue at Brickell building and Gaston Tomaghelli

Feds freeze Miami condos tied to Argentinian drug trafficking and money laundering scheme

Joe Carollo and a Coconut Grove House

Busted: City doles out code violations to Miami commissioner’s Coconut Grove home

Dean Trantalis, Ken Valach, and a Alexan Tarpon River rendering

Condo association sues Fort Lauderdale after city rejects plans for downtown site

David Beckham, Jorge Mas and a rendering of the Overtown stadium

David Beckham, partners to close on county site in Overtown after all

President Trump and Mar-a-Lago (Credit: Getty Images)

Revenue fell at Trump’s Palm Beach properties in 2018

arrow_forward_ios