Malaysian Project Group Moving Slowly Due to Red Tape
by Sep Niakan | May 15, 2014
While other developers are taking advantage of the property boom in the Miami area, one landholder group continues to sit quiet. For now.
The Genting Group, Malaysian-based gambling giant, decided to lift their plans for a 5,000 room casino resort after red tape caused by Florida's legislation. However, they have decided to create a traditional mixed-use condo development. The group has reached many roadblocks, but plans on developing the ultimate resort destination in the heart of Miami Beach.
Their proposition, Resorts World Miami will include 500 hotel rooms, many shopping outlets and restaurants, and a possible smaller scaled casino, all in one complex.
In 2011, Genting purchased about 30 acres for over $420 million, including the Omni complex off of Biscayne Boulevard, the former Miami Herald property, and the historic Boulevard Shops on Biscayne.
On January 9, Genting announced their bid to use the Broward racetrack's casino license, currently not in use, to open a 2,000 machine slot parlor in the Omni complex. The deal is believed to be a longshot, and many expect the transfer is not to be approved. Additionally, the 2010 gambling agreement with the Seminole tribe may cause provisions to come into play if there is a transfer, which would stop $140 million in payments to Florida if casino activities expand past current standings.
Photo credit: Miami Herald - miamiherald.com
by Sep Niakan | January 22, 2017
Welcome to the month of love! February’s here, and it’s time to get into celebration mode once again. With Valentine’s being the highlight of the month, Miami’s got a mixed bag of events that will help singles and couples...
by Sep Niakan | January 12, 2017
According to thenextmiami, a petition involving a 15 by 75 feet alley has sparked speculations that a brand new hotel could be coming to Edgewater. Why? Simply because this alley comes attached to a 7,875 sq. ft. plot located at 348 Northeast 20...
by Sep Niakan | January 09, 2017
Ever tried driving from Brickell to Downtown Miami for lunch? Most Miamians dread the thought of catching the dreaded drawbridge, which opens every hour or half-hour during non-curfew hours to allow river traffic to pass under. So what’s...
by Sep Niakan | January 08, 2017
Last year’s headlines weren’t too kind to Miami with hurricanes, Zika warnings and falling sales painting a dark picture. However, with the elections finally done with, there are plenty of reasons to be optimistic about 2017: 1. ...