May 29, 2013
The City of Miami is no stranger to ground-breaking and audacious real estate developments. Years after the housing bust, this world city is brimming with big plans, and new additions are cropping up every year.
Now, the old headquarters of the venerable Miami Herald – which lies on prime bayfront real estate – is being prepped for demotion, starting with today’s removal of the iconic “Miami Herald” and “El Nuevo Herald” signs.
Needless to say, this much-desired bayfront land isn’t going to be left fallow. According to Curbed Miami, a local real estate news site, development group Genting has big plans for the site:
Genting has an entirely new plan for their Resorts World Miami megaproject at the Miami Herald Site (according to the Miami Herald) and, guess what, there isn’t a gargantuan city-gobbling casino in site. In fact, it’s all about parks (yes, parks), and view corridors, and a wide, luxurious baywalk, and even -gasp! – historic preservation. Well, sort of. The Miami Herald building may still be dunzo, but the art deco Boulevard Shops, with its high ceilings and rich architectural details will get a restoration as restaurant or nightclub space. That will begin this summer, and take about a year. Renovations and upgrades to the Hilton Hotel at the Omni, which Genting owns about a block to the north, have already begun, although there are no plans yet to do anything with the former Omni mall, which remains shuttered.
Genting plans to replace the Miami Herald with three condo towers and a luxury hotel, with parks to the north and south, and a wide baywalk linking to Museum Park. Parks will ease the transition to Museum park and provide a greenway to the Arsht Center. They’re not trying to close any streets (the people mover is probably staying put too), and – this should thrill all the NIMBYs out there – there isn’t a casino in sight.
In short, this new development will take into account the needs of the local community as well as the aesthetics of Downtown Miami Real Estate. Indeed, this development looks as if it will be bring much needed growth, room, and exciting to the now revitalizing urban core of the city.
Ambitious and exciting developments like this help to explain why Miami Properties are increasingly popular. There are always rewarding new opportunities for fine living in this city. To learn more about what you can get out of Miami Real Estate, call Metro 1 Properties at 305-571-9991.