Resorts World Miami

Terra Acquiring Former Miami Herald Site From Genting Group For $1.225 Billion, Plans Waterfront Transformation

SmartCity Miami LLC, an investment group led by Miami-based Terra and its CEO, David Martin, has finalized terms for acquiring a 15.5-acre development site on Biscayne Bay in Downtown Miami. The group will purchase the site, previously home to the Miami Herald newspaper offices, from its owner, Genting Group, for $1.225 billion. The site is the largest undeveloped waterfront property in Miami’s urban core, midway between Miami Beach and Miami International Airport. It offers over 800 feet of direct frontage along Biscayne Bay and is adjacent to Miami’s Museum Park, the Adrienne Arsht Center for the Performing Arts, and the Metromover transit system. The closing is set to take place later this year.

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Genting Group’s Resorts World Miami Gets FAA Approval For Three Towers At 649-Feet Above Sea Level

The Federal Aviation Administration has approved and cleared the way for three towers at the proposed location for Resorts World Miami, a $3 billion – 13.9-acre mixed-use gaming, hotel and entertainment development along the waterfront in Miami’s Omni District just south of Edgewater. According to to the approval letters, the three structures are approved to rise 642-feet, 643-feet and 645-feet from the ground up, or 649-feet above sea level.

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