Miami Herald Building Sold to Developers

Miami Herald building Miami Herald Building Sold to DevelopersIn June, An Asian Casino company, Genting, purchased approximately 14 acres of waterfront land which was owned by the Miami Herald. Genting paid $236 million in an all cash deal for the property. The land is located just East and North East of the Performing Arts Center along Biscayne Bay. The development will be a mixed use project with a hotel, residences, retail and possibly even a casino which the developers are pushing for. The project is massive and the developers expect to spend between $2 billion and $5 billion constructing it. Genting has not specified a completion date in part because the Miami Herald, which sits on part of the property has up to two years to find a new location.

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