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Genting’s Resorts World Miami Moving Closer to Reality (and Becoming Miami’s First Casino)?

by , May 25, 2021

Malaysian casino-resort giant, Genting Group is back dominating real estate news in Miami. It’s massive Resorts World Miami project has once again received recent development approval, and this time, the political climate for adding a casino is much more positive. Love it or hate it, read on to see the latest developments that could bring this transformative Miami condo-hotel project to life.

Resorts World Miami


Resorts World Miami - History 

A short trip down memory lane to 2011, many will remember Genting unveiled its ambitious and controversial project called the Resorts World Miami. It was poised to be one of the biggest projects in Miami, sitting on a prime waterfront parcel that was the famed Miami Herald site in Downtown. With the proposed six, LED-lit, coral reef-like towers, a 3.6-acre lagoon stretching from Biscayne Bay to Biscayne Boulevard, came something Miami has never had, a casino.

Fast forward eight years... and nothing has been built. What’s the hold-up, you ask? Gambling permits! For years, local governments have rejected the Malaysian company’s proposal to build a world-class casino in the heart of Miami. However, with recent shifts in the political climate in favor of gambling, Genting’s dream of building a commercial casino in Magic City could be seeing new and favorable betting odds.

Resorts World Miami


Latest Resorts World Miami Approval 

While Genting’s previous proposal to build three waterfront towers from 2017 expired last year, they recently resubmitted plans, and this month, Resorts World again won approval from the FAA to build the three, 649-foot-tall (above sea level) towers. The Malaysia-based group has also filed plans to build a 580-foot tower at the Omni bus terminal – a property it secured in recent years.

Resorts World Miami


Original Resorts World Miami Proposal

So what are they planning for the old Miami Herald site? Here’s a quick reminder of what Genting’s plans for its Resorts World Miami project at One Herald Plaza (Miami Herald’s former headquarters) look like:

  • 4 Hotel Towers, with a total of 5,200 rooms
  • 2 Residential Towers, with a total of 1,000 residences
  • 8-story Podium with
    • 2-story shopping mall featuring 250,000 square feet of luxury retail
    • More than 50 restaurants, lounges, bars, and nightclubs
    • World-class casino (the main bone of contention)
    • 700,000 square feet of convention space featuring a 200,000 square-foot, column-free ballroom (would be the largest in the U.S.)
  • 3.6-acre Lagoon with sand beach perched atop the podium, spanning the size of 12 Olympic-sized swimming pools, stretching from Biscayne Bay to Biscayne Boulevard
  • Baywalk along Biscayne Bay, connecting Museum Park to Edgewater
  • 3-story Underground Parking

Resorts World Miami


A Zoning Expansion, Monorail Extension to South Beach, and Baywalk

Miami-Dade Commissioners have also voted to add zoning density in the Brickell-Downtown area (including Genting’s site), thereby clearing the way for Transit-Oriented Development, including a monorail extension. In March, Genting (along with its consortium of developers) was approved to work on feasibility studies for the monorail project.

The consortium is approved to elevate the Miami Beach station and build a new station on the Resorts World Miami property for the Monorail to cross the Bay. Simply put, the BayLink monorail extension would allow Resorts World’s guests direct access to the beach via a short ride. Genting also still has plans for expanding the baywalk and marina at its One Herald Plaza, connecting Museum Park to Edgewater.


A Resorts World Miami Casino?

Genting is a casino resort developer that bet on a city that still has mixed feelings about bringing gambling to the area. Miami’s Mayor Francis Suarez vetoed county approvals for a proposed smaller gambling establishment in Edgewater, supported by Miami magnates Jorge Pérez, founder of the Related Group, and Norman Braman, owner of several South Florida luxury auto dealerships. Both Perez and Braman have consistently expressed their staunch opposition to the development of casinos and legalized gambling facilities in Miami, with Perez writing an Op-Ed in the Miami Herald in 2018.

Further complicating an approval for a full-fledged Miami casino is the role the Seminole Tribe of Florida plays in holding rights to gambling operations in the State. Its Hollywood Hard Rock Hotel & Casino is well-known across the world. However, this hasn’t seemed to sit well with other major Florida business owners, including former President Trump, and Fontainebleau Miami Beach owner Jeffrey Soffer, who are interested in bringing gambling to their properties.

This May, Florida legislators approved a deal with the Seminole Tribe, who hold the current monopoly on gambling in the State, making it easier to bring casinos to Miami (and surrounding cities). Negotiated by Gov. Ron DeSantis (R), the May 2021 agreement states that the tribe will not object to any new casino that is further than 15 miles from their Hard Rock Hotel & Casino in Hollywood. This conveniently puts former President Trump’s ailing Doral golf resort at a “safe” distance. In theory, this deal would not only allow gambling at Trump Doral, but also Genting’s Resorts World, and Fontainebleau Miami Beach (Soffer is said to be an interested party as well).

Although this doesn’t exactly clear the path for transferring gambling licenses into areas where casinos are prohibited, it does bring them a step closer to materializing the vision. If the State and Seminole Tribe give their final approval to the transfer of permits, by law, local governments will not be able to prohibit casinos anymore – and Genting plus Soffer could become the pioneers of casino gambling in Miami.

With the casino getting closer to materializing, we’ll be watching to see if the Genting Group submits any revisions to its original proposal or submits new building permits. For now, it is simply going ahead with 3 out of its 6 originally proposed towers. Meanwhile, you could read our Resorts World Miami update from March 2021 here.
 



How do you feel about this development? Does Miami need casinos? How will that change Edgewater? Let us know your thoughts and feelings on all of our social media accounts, @blackbookproperties.

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Brickell vs. Edgewater: Which Miami Neighborhood Is Right for You?

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Brickell vs. Edgewater: Which Miami Neighborhood Is Right for You?

When most people are thinking about moving to Miami, the two most popular neighborhoods mentioned are Edgewater and Brickell. So, how can you know if Brickell or Edgewater, Miami is right for you? Both neighborhoods have grown considerably in recent years, and both are home to high-rise residential towers as well as mid-rise residential towers. While both areas provide plenty of variety in housing options, they also offer differing lifestyles and benefits. _This article was last updated on January 12, 2023\._ ## Lifestyle: Brickell vs Edgewater Edgewater, Miami is primarily a quiet, residential neighborhood nestled on the shores of Biscayne Bay and the 8-acre Margaret Pace Park. It's a neighborhood that is in a super central location in all of Miami, and Edgewater condos are ideal for families and young professionals still looking for luxury residences on Biscayne Bay, many of whom are purchasing their first property or moving away from the real estate east at the beach. Edgewater, Miami, is one of Miami's most well-kept secrets for those who favor a serene, residential lifestyle that still provides access to all of the eclectic offerings that make Miami exciting, such as Miami Beach and Biscayne Bay. ###### Margaret Pace Park in Edgewater. Photo by Ryan Healy A quiet residential neighborhood that is off-the-beaten path and generally overlooked by tourists, Edgewater provides a nature-oriented yet urban lifestyle that's very walkable, and also has easy access to the Downtown Arts District, the Julia Tuttle Causeway to the east, the Wynwood Arts District, the Design District, Brickell, and South Beach. Edgewater, Miami, has many existing bayfront condos and luxury residences, yet is also still growing, with more luxury condos, restaurants, grocery stores and such on the way. Brickell, in comparison, is Miami's Financial District and home to many international corporate headquarters. It has a high population density and is roughly bound to a busy area that has been playfully nicknamed the “Manhattan of the South,” and more recently, “The Wall Street of the South.” As Brickell has experienced rapid urbanization over the past few decades, Brickell is now more dense than Brooklyn, and could be compared to lower Manhattan. ###### City Centre in Brickell. Photo by Jill Bazeley Ideal for ride-or-die urban types, executives, workaholics, and those who wish to live and work in the same distinct neighborhood, Brickell is also home to families and international business executives who come to Miami for extended periods. Brickell is known for its bevy of world-class restaurants, a vibrant but mature nightlife, as well as its plethora of versatile shopping options. ## Business: Brickell vs Edgewater Edgewater, Miami is essentially a laid-back, homey residential district where neighbors will recognize one another while walking their dogs, pushing strollers or bicycling. There are only a handful of shared work spaces, offices, and commercial buildings. If you prefer to leave the work at the office, and decompress when you get home, Edgewater neighborhood offers that. ###### Photo by Marcus Lenk on Unsplash Brickell, on the other hand, is a buzzing international banking hub that represents the largest of its kind in the US, and the second-largest financial center south of New York. Brickell is Miami's central business district. Flanked by the Miami River and Biscayne Bay, Brickell offers a unique Miami-style, urban experience that includes plenty of open-air restaurant options, high-rises with spectacular water views, and an active but casual corporate environment. If you like to get deals done over dinner and then walk home, then Brickell is good for you. ## Walkability and Transportation: Brickell vs Edgewater While Edgewater is tucked away, its super central location makes it close enough to walk or bicycle to many of Miami's most desirable locations, such as the Perez Art Museum (PAMM) and the Frost Science Museum, the Adrienne Arsht Center for the Performing Arts, Museum Park, the Wynwood Arts District, the Design District, and Downtown, as well as the Miami-Dade College Wolfson Campus. Edgewater has its own Metromover stop, and its close proximity to Downtown and midtown Miami means that you can take advantage of the Metrorail and Brightline trains that can take you just about anywhere in South Florida, eventually to Orlando, from the convenient MiamiCentral station as a part of the Florida East Coast Railway, as well as the up-and-coming commuter rail service that will take you to locations both within and beyond the greater metropolitan Miami area. To the north, Edgewater has the Julia Tuttle Causeway providing quick access to the beach. ###### Metromover - Miami. Photo courtesy of Phillip Pessar In Brickell, the free Metromover can take you to Wynwood, Coconut Grove, and Downtown Miami, where you can connect to the Brightline trains leading to the tri-county area, north to Fort Lauderdale, and soon, north to Orlando. There is also a free Brickell trolley and a very inexpensive airport shuttle that costs $2.25 and runs about every 20 minutes. ### **Looking to live car-free?** Don’t miss our article on other Miami neighborhoods where you can live without a car. ## Parks and Greenspace: Brickell vs Edgewater Access to greenspace is Edgewater's claim to fame and part of what makes it so desirable. In this category, we think it is a winner over Brickell. The entire distinct neighborhood is anchored by the expansive and multifaceted Margaret Pace Park, with its winding pathways, mangrove forests, a dog park, sports activities, including basketball courts, volleyball and tennis courts, and waterfront access for water sports such as kayaking or waterboarding. The park also provides an array of outdoor options for nature-themed recreation ideal for young families with children, fitness enthusiasts, work-from-home types, as well as parks where dogs and their human companions can get plenty of exercise. ###### Brickell Key Park The dense commercial neighborhood of Brickell also has some parks, as the area was planned to provide sun and fun options at locations such as Brickell Park, the waterfront walk around Brickell Key Park, Alice C. Wainwright Park, and Miami Circle Park. You can enjoy shady walking trails and areas for dogs to run and play, as well as some breezy water views that make you forget momentarily that you're in the middle of one of the country's busiest urban hubs. ## Arts and Culture: Brickell vs Edgewater ###### Phillip and Patricia Frost Museum of Science Edgewater's proximity to the Downtown Arts District makes it incomparable as far as access to the arts, in comparison to busy Brickell. From most all Edgewater properties, you can easily walk or bicycle to some of the city's most renowned cultural venues, such as the Adrienne Arsht Center, Ziff Opera House, Perez and Frost Museums, American Airlines Arena, and many smaller art galleries, venues, performing arts centers, and artists' studios. Edgewater is also within a short bike or Uber ride to the infamous street art that has made Wynwood famous, along with its galleries and the yearly art fairs that draw millions of international tourists during Miami Art Week. It's also a stone's throw from the Design District, and the area's most prestigious art exhibition spaces and collections, such as the Moore Building, The de la Cruz Collection, and the Institute of Contemporary Art (ICA). While Brickell is better known for its restaurants, chic roof-top bars, and entertainment venues than for cultural venues, its easy transportation options provide quick and access to the Downtown Arts District and many of the same attractions that are close to Edgewater. ## Eating and Shopping: Brickell vs Edgewater ###### La Mar - Gaston Acurio at the Mandarin Oriental Hotel As far as eating and shopping options, it's impossible for residential Edgewater's bayfront community to compete with Brickell's plethora of casual eateries and fine-dining options, as well as the wide variety of shopping opportunities walking distance in Brickell, including those at Mary Brickell Village, Brickell City Centre, and all along Brickell Avenue. Some of these include The Capital Grille, an upscale steak house perfect for impressing corporate clients, and La Mar by Gaston Acurio at the Mandarin Oriental Hotel, where Peruvian fusion cuisine is served in a chic waterfront setting. Among one of the area's newest eateries is EST.33 Thai Craft Brewery and Kitchen, bringing a blend of Asian flavors blended with traditional American barbecue, with the bonus of craft beer. An excellent affordable waterfront lunch can be had at Crazy About You, where you can enjoy Mediterranean flavors in an understated bistro setting on the bay. There are also two food halls at Brickell City Centre, where you'll find a wide assortment of eateries as well as specialty shops serving up all types of food from cultures all over the world, particularly authentic Italian. ###### Edgewater’s Amara at Paraiso By comparison, Edgewater's bayfront community provides walkable access to some of Miami's most popular restaurants. For fine dining, Edgewater's Amara at Gran Paraiso is a waterfront favorite. And Paolo Fontanot's Italian bakery and cafe is also a can't miss, being the only U.S. location outside of Italy. Tons more spots are in our Local's Guide to Restaurants in Edgewater. Edgewater is also very close to Downtown Miami and Wynwood restaurants, including Kush, known for its infamous burgers and budget lunch menu. For more adventurous fare, Dunkunoo serves up Jamaican dishes along with exotic Caribbean drinks, and an assortment of experimental small plates are available on the eclectic tasting menu at Alter. Edgewater also provides easy access to Wynwood's unique boutiques as well as the specialty shops in the nearby Design District, and Downtown Miami's versatile shopping options. ## Architecture and Housing Options: Brickell vs Edgewater ###### Edgewater neighborhood Edgewater was in the past few decades a neglected enclave nestled between Biscayne Boulevard and Biscayne Bay, populated by working-class families living in smallish mid-20th-century bungalows and a few low-rise existing bayfront condos. All of that has changed in recent years as luxury condos and modern brand new developments such as Paramount Bay, Elysee, Missoni Baia, and other luxury condo high rises have replaced many of the older properties with chic new waterfront condos adorned with balconies boasting exquisite bay views, direct access to the bay, and modern family-friendly resort style amenities. For those drawn to the nostalgia of the neighborhood, a few of the area's old bungalows have been remodeled and upgraded and still dot the local landscape offering waterfront living. ###### Brickell Key neighborhood Brickell is a larger area that is divided into three sections: Old Brickell, The Financial District, and Brickell Key. The area south of SW 15th Road is known as Old Brickell, and along its grand, tree-lined street, consists of mainly of older low and mid rise condo buildings on the water, as well as small firms, international banks, and other professional service offices, along with a few ritzy mansions dating back to the Mary Brickell era. The area north of SW 15th Road, and particularly around Brickell Avenue, is known as the Financial District and here you'll see business and residential high rise skyscrapers, both business and residential. While many of the area's older high rise condos provide waterfront access to Biscayne Bay, most brand new constructions are being built inland due to limited availability of real estate in this increasingly dense area. Brickell Key is a more isolated, private enclave with high-end, waterfront residential condos. ### View available condo and rental options in Edgewater or Brickell. ## Cost of Living: Brickell vs Edgewater Edgewater is a family-friendly area, with real estate condo prices averaging around $386 per sq. ft. and average residential units listing at around $502,715\. The median household income for most residents in Edgewater near Miami Beach is $77,000. Brickell has a wider array of real estate options and attracts a variety of international investors, with options ranging from mid-rise residential towers to older high rise exclusive penthouses to affordable condos. The average price in Brickell is roughly bound to about $399 per square foot or $530,966 for an average residential unit; however, listings may run as high as $29,110,500 or about $2,039 per square foot. ## Which Neighborhood is Better? Brickell or Edgewater? If you're in the market for a quiet, family-friendly environment with less noise and traffic, access to nature, Biscayne Bay waterfront living, mid rise to high rise residential towers, and very little tourism, you'll love Edgewater, which offers respite after a quick commute. If you prefer to immerse yourself in the Manhattan of the South, with access to all things big city, you'll feel right at home in Brickell. Check out these below: * Edgewater vs South Beach * South Beach vs Miami Beach * Edgewater vs Downtown Miami * The Miami Beaches: South vs Mid-Beach vs North Beach * Brickell vs South Beach * Brickell vs Brickell Key If you'd like to talk more with us about which Miami Dade County, Florida, neighborhood is right for you, give us a call or e mail, and we'll be happy to go through the many real estate available listings in both Edgewater, Brickell, and all that Miami so you can make a well-educated decision as to which Florida spot is ideal for you. --- ###### Cover Photo by Anish Patel

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