Friday, September 16, 2011

Malaysian Group Proposes 2 Condo Towers For Downtown Miami

MIAMI, FL -- Malaysia-based Genting Group, one of the world’s largest casino operators, plans to develop two new, highrise condo towers with 1,000 units in Greater Downtown Miami, according to a new report from

The condo towers – part of a proposed $3 billion mixed-use resort and entertainment complex on the current Miami Herald headquarters site fronting Biscayne Bay – could be completed as soon as 2014, according to the Miami Herald.

Plans for the proposed 10-million-square-foot project -- located on Biscayne Boulevard fronting the Adrienne Arsht Center for the Performing Arts (top right photo)-- call for a pair of condo skyscrapers and four hotel towers that share a massive pool deck on the eighth floor of the complex, according to a statement from the Genting Group.

“The initial plans – which still require governmental approval – for the proposed Resorts World Miami project are extremely ambitious,” said Peter Zalewski, a principal with the Bal Harbour, Fla.-based real estate consultancy Condo Vultures® LLC.

 “For context, think of the design of Greater Downtown Miami's largest new project ICON Brickell (lower left photo) – three towers sharing a massive amenities deck – and double it for the Resorts World Miami project.

"On a unit-count basis, the ICON Brickell with nearly 1,800 units would be one-third of the size of the 1,000 condo units and 5,200-hotel rooms planned for Resorts World Miami.”

The proposed Resorts World Miami project - for which the land has already been acquired for at least $236 million - calls for a casino component combined with retail, restaurants, and convention center space. 
Peter Zalewski of Condo Vultures® can be reached at 800-750-0517 or by email at

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