Developer Says That Genting Is Trying To Sell Resorts World Miami Site

An anonymous developer told the Herald that he “was shown” the Resorts World Miami site recently.

Genting, the owner of the site, denied that they have shown the property to a potential buyer. The company has been actively lobbying for a casino license, but hasn’t submitted any development plans to the city for at least two years.

It seems unlikely that any local developers are big enough to consider a deal for all of Genting’s property. The company owns:

  • Former Herald property (paid $236 million in 2011)
  • Omni property (bought notes on property with a face value of $206 million in 2011)
  • Property on west side of Biscayne Boulevard, including Checkers Restuarant

 

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snoɯʎuou∀
5 years ago

The Miami Herald site will definitely find a buyer(s). Waterfront property is just too good.

Danny
5 years ago

Not in this market right now. It will be empty for the next 5 years.

Anonymous
5 years ago

If the city of Miami had any sense of class or commitment to it’s citizens it would turn the property into a park, therefore creating an expansive waterfront green space from Bayfront down, this would allow for an expansion of museums and other cultural institutions. But I’m dreaming, whoever gets these lots better build them tall.

Anonymous
5 years ago

That would be just awesome but don’t think it will happen unfortunately.

Dany
5 years ago

Wake up Miami !!!!! This is one in a lifetime opportunity ……like always The Banana Republic aka “The Magic city ” will disappoint us and for the complainers out there about Public transportation supporters,this is private land if a company want to build a goddamn Casino/hotel don’t fight it, call you mayor and Governor to make it happen. ‪#‎BringTheMagicToTheMagicCity‬

Marc305
5 years ago

You are going to get a lot of thumbs down Dany, but I for one agree with you 100%!
I do not gamble but I would enjoy having a little “Hollywood Hard Rock” right in Downtown.

Dany
5 years ago

Thanks Marc305, I’m not a hater at all. I’m just get frustrated with people sometimes. My answer to all the complainers is “Buy the land” and do something about it …. again Thanks 🙂

Anonymous
5 years ago

Hey Dany I’m with you bit its really not about the people complaining its the powers that be up in Tallahassee. If they give the green light to allows for the most part full gambling right to Genting in Miami and not just the Seminole tribe then they would go on with the investment. They are not going to invest over $2 Billion on a casino resort with limit gambling. Genting proposed the casino on the assumption that they would eventually get the license. They have been fighting and lobbying for years but Tallahassee won’t allow it even Rick Scott has tried to negotiate a proposal to come to terms but still nothing.

Danny
5 years ago

Suck because I believe only 10% was gambling.

Edin
5 years ago

Now I know,MIAMI will be always just little dirty village by the see.What kind of people run this village is unbelievable. I would pay these guys tickets to travel around the world to see and to learn how to build world class cities. Our Bayside market is disgrace, our mass transit disgrace,Brickell Avenue total disaster.Landscape in it horrible .Homeless people everywhere, and of course that horrible Brickell bridge with roadblocks in the middle….

Anonymous
5 years ago

Great… sounds like we’ll have an empty water front lot to look at for the next 10-15 years.

Danny
5 years ago

Empty contaminated water front lot.

Anonymous
5 years ago

it would have to be split up among many buyers as all the holdings are just too vast for any local developer with the exception of possibly related…but they seem to have their hands full with paraiso and auberge and the brickell sites….I am somewhat disappointed about not seeing such beautiful renderings become reality but I certainly can understand gentings frustration

Anonymous
5 years ago

This is the best site to be able to be developed in all of Miami. Who ever buys it will probably spend a few billion. Not this cycle though. Yet, let’s see how much higher prices go in the cycle. I think when the empty lots on Biscayne, MWC if it gets built, and the Herald site could push prices much higher than people think.

Anonymous
5 years ago

any possibility of putting the soccer stadium here? Back on the waterfront?

Jesus
5 years ago

It’s a shame we could not get this going because some people are just worried they will lose business. This would have been a great addition to the skyline.

Anonymous
5 years ago

Great piece of property for a world class residential or mix use development.

I’m sure the families living there are happy of not seeing casinos, and everything that surrounds them.

The City should asses these properties according to their real market value, and fund great schools, the best possible schools, for all the new residents of Downtown, Brickell and Edgewater, with those property taxes.

Anonymous
5 years ago

As long as they leave the Checkers restaurant. Love me some Checkers seasoned fries.

Donald Trump
5 years ago

It’s such a great thing that the media and the news is dying. It’s such a great thing that the lies the media says is becoming part of the mainstream. This is why I am leading the polls and believe me, nobody can lead like I can. I will build a wall around Miami to keep the Hispanics in and the whites out of that third world. We are going to make America great again!