Group Announces Plans for Resorts World Miami

Genting to build skyscrapers, hotels on land bought from Miami Herald

Thursday, Sep 15, 2011  |  Updated 9:19 AM EDT
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Group Announces Plans for Resorts World Miami

NBCMiami.com

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The company that purchased The Miami Herald building this past spring says it will build a 10-million-square-foot, mixed-use development on the site.

Malaysia-based Genting Group announced its plans for the bayside land Wednesday.

The McClatchy Company, which owns The Miami Herald, sold the building in May for $236 million, but the newspaper wouldn't have to move out for two years.

According to a news release, Resorts World Miami will feature coral-reef-inspired skyscrapers and a new three-mile Baywalk. It will include four hotels with a total of 5,200 rooms and two residential towers with 1,000 units.

The project represents a $3 billion investment by Genting Group. Officials say it will be one of the largest development projects in Florida history.

Developers estimate the project will create 15,000 construction-related jobs and 30,000 permanent positions.

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