Resorts World Miami-Photo courtesy of The Genting Group
A lot has been written since the Genting Group, the third casino operator in Malaysia, unveiled the architectural design of Resorts World Miami a few days ago. Resorts World Miami is the name of the massive entertainment resort and mixed-use development which plans to be built in Downtown Miami. This announcement has surely raised various reactions from Miami residents, lobbyists and local government representatives. Some individuals, including city representatives, wish this project would focus on creating a waterfront park in Downtown Miami instead of developing casinos and restaurants. Others try to explain how high-end casinos would create an opportunity for a luxurious entertainment destination for sophisticated travelers, while several local politicians just approve the project.
Moving backwards, The Genting Group bought a 13.9 acre waterfront property where the offices of The Miami Herald are located for $236 millions in May 2011. A few days ago, the casino operator bought the mortgage note of the foreclosed Omni site for $161 millions. Both properties are combined to create a 30 acre property. The architectural design of Resorts World Miami, signed by miami-based firm Arquitectonica is quite innovative and futuristic .
The magnitude of the $3 billion project involves a casino- if Florida lawmakers pass legislation to allow resort casinos -, 2 condominium towers, 4 hotels, 50 restaurants, 12 swimming pools, retail spaces and an outdoor lagoon. The Malaysian company said this development would create thousands of temporary and permanent jobs.
I find the project quite interesting, at least for raising questions and debates about the various visions we have for Downtown Miami. On one hand, I do hope that this ambitious development will not transform Miami into a Las Vegas by the beach, attracting thousands of cheap-looking tourists looking for mass-market entertainment. On the other hand, we definitely need to create many more jobs in South Florida and the local Downtown Miami real estate market would gain in value. Moreover, if the facilities end-up being well designed and the restaurants offer high-quality food and service, this project could boost Miami as an entertainment destination for well-traveled visitors from the North-East of the U.S., Latin America and Europe.
