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
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Genting switches casino plans to hotel in Florida
March 18, 2013 9:57 AM by Staff &
Wire Reports
Malaysia’ Genting Group, successful with a major slots facility adjoining
Aqueduct racetrack in New York and the recent buyer of remnants of the failed
Echelon development on the Las Vegas Strip from Boyd Gaming Corp., has downsized
its plans for a project in Miami, Florida.
Initially, after purchasing The Miami Herald building for $236 million, the company announced grandiose plans for a $3.8 billion project for the 14 acres that would have included a massive casino, skyscrapers, a new three-mile Baywalk, four hotels with a total of 5,200 rooms, and two residential towers.
Unfortunately for the company, the state legislature failed to approve gambling plans for south Florida.
Now, Genting’s Resorts World Miami will offer a more modest development that will focus on a luxury hotel and two condominiums.
According to company spokesman Tadd Schwartz, the first phase will be on the Miami Herald site and will include a few stories of restaurants, shops, meeting rooms and underground parking that will have an open-air vibe. The condos and hotel will sit above that podium.
Obviously, the company still has hopes of getting a casino law passed. To do so, however, it will have to overcome objections from existing casino operators, horse track owners, Disney World and the Florida Chamber of Commerce.
http://www.gamingtoday.com/articles/article/40598-Genting_switches_casino_plans_to_hotel_in_Florida
Initially, after purchasing The Miami Herald building for $236 million, the company announced grandiose plans for a $3.8 billion project for the 14 acres that would have included a massive casino, skyscrapers, a new three-mile Baywalk, four hotels with a total of 5,200 rooms, and two residential towers.
Unfortunately for the company, the state legislature failed to approve gambling plans for south Florida.
Now, Genting’s Resorts World Miami will offer a more modest development that will focus on a luxury hotel and two condominiums.
According to company spokesman Tadd Schwartz, the first phase will be on the Miami Herald site and will include a few stories of restaurants, shops, meeting rooms and underground parking that will have an open-air vibe. The condos and hotel will sit above that podium.
Obviously, the company still has hopes of getting a casino law passed. To do so, however, it will have to overcome objections from existing casino operators, horse track owners, Disney World and the Florida Chamber of Commerce.
http://www.gamingtoday.com/articles/article/40598-Genting_switches_casino_plans_to_hotel_in_Florida
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