Genting Group Downsizing Miami Herald Site

by Isaac Benmergui, Esq on April 1, 2012

After strong negative reactions of the community and Florida legislature, the Malaysian Genting Group is downsizing its development plans for its 13.9 acres of waterfront property, which includes the site of The Miami Herald headquarters. “The fact that Genting Group is willing to scale back its vision for now, shows it is committed to Miami’s future and wants to help it grow,” says real estate expert and attorney Isaac Benmergui.

Malaysian Developer Changing its Vision, Not Commitment to Miami Real Estate

Originally, the group sought to build four luxury hotels with a casino, but could not get the state’s legislature to change existing gambling regulations. The new proposal, a significantly more modest plan, will include condominiums, a five-star hotel and restaurants and will complement, rather than dwarf, nearby projects including two new museums. Genting aims to transform 5-acres of the property into a more “pedestrian-friendly gathering place.”

Getting Legal Help

The law offices of Isaac Benmergui represents real estate developers and homeowners and can help you with your legal real estate needs; call 780-800-2510 or email Isaac@benmerguilaw.com for more information or to set up an appointment today.

 

 

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