Genting Malaysia Bhd is offering a prime 16-acre waterfront site in on Biscayne Bay in Miami for $1B after abandoning plans to develop a casino there.
The Downtown Miami waterfront parcel was one home to the Miami Herald newspaper. According to Avison Young, which is marketing the property, the site can accommodate up to 20M SF of mixed-use development and comes with a series of entitlements from the city.
The site at 1431 North Bayshore Dr. is one of the largest undeveloped parcels on the waterfront, offering 800 feet of frontage on Biscayne Bay.
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