The Miami City Commission recently unanimously voted to authorize the city manager to accept a quit claim deed for the donation and conveyance of submerged land from the Florida Department of Transportation north of I-395 to the city. The move allows Miami to lease bayfront bottomlands to Resorts World Miami LLC, a Genting Group subsidiary, for a marina.
Genting Group purchased the 14-acre former Miami Herald waterfront site, where the submerged land is located, for $236 million in 2012. The company also bought surrounding land for a $3 billion luxury casino with multiple towers, retailers and an elevated beach and lagoon. Since the state legislature repeatedly has blocked gambling expansion, the Miami plan was scaled back to two residential towers, a hotel and retail, but the land remains unused.
Resorts World’s proposed marina would feature 50 slips, accommodating 50-175 foot vessels, plus a public baywalk.
