After years of relative inactivity in its downtown Miami investments, casino gaming giant Malaysia Genting Group is finally planning to develop a property – Only this time it will not build the massive casino complex that once Promised to build. But a Mega-yacht Marina
According to the Miami Herald, the company is planning the construction of a mega-yacht port with 50 jetty spaces in Biscayne Bay along the former Miami Herald headquarters at One Herald Plaza. Plans were announced on Monday before the Miami River Commission, which voted 10-1 to support the project.
In addition to the marina, which accommodates boats up to 175 feet, Genting would also build a public baywalk along the 5.6-acre site, spanning the distance between the Venetian and MacArthur driveways.
The project was made possible by an exchange proposal where Genting could buy the rights of Marina from two properties on the Miami River. According to the Miami Herald, the gaming giant only has rights to build eight piers at its Biscayne Bay site, because of a manatee protection rule that limits owners to one pier for every 100 feet of shore.
Fuente, The Real Deal