As a Real Estate Broker and Real Estate Manager nothing makes me happier than to see investment dollars come into the Miami market. Especially in the form of a project that has the ability to redefine an area or create buzz as only we in Miami know and love to do. Resorts World Miami is one of those types of projects that come up every decade or so to much fanfare, hype and expectation.
I watched the video and it's impressive. The scale, the mass, the way Arquitectonica played with the lines of the building to mimic coral stone formations and some of the other more technical aspects of the project are very interesting and a draw in and of themselves.
As much as I might like the concept, Resorts World Miami will need some "concept" massaging before it's final form is truly revealed. Why do I say that? Beside the obvious political issue with gaming licenses and the like, there is the issue of what a project of this size would do to traffic, infrastructure and resources in and around the project. How do you handle a quarter of a million people in it's public space? Did they all take the metro mover to get there?
Does Resorts World Miami project outwardly to organically connect to the surrounding arts center, residences, park and museums? Or, does it pull you into it's space in such a way as to leave the surrounding properties as a backdrop eventually lessening their value?
Regardless of this first pass and the issues that come to mind I am happy to see Resorts World Miami arrive. I also like the idea that the Genting group who are already invested in Miami as owners of NCL (Norwegian Cruise Lines) continue to see Miami as way to build on their business. To me, it's a very logical fit. Destination city, cruise capital of the world and the largest destination facility a stones throw away from your ships is not a bad thing...
What do you think? What would you like to see come of this? Do you think it should exist at all? Too much urban density. Not enough density? What's your take on Resorts World Miami? Sound off below and here are a few more pics to get a sense of what is being proposed.
In the Herald yesterday was published an article showing revenue projections and that the design concept would potentially scale back from it's original size. But, it's intent of luring creme de la creme gamblers in a similar fashion to the most profitable asian casinos remains intact. Resorts World Miami has the potential to be the United States most profitable casino. Even more profitable than casinos in Las Vegas and Connecticut.
It's now approaching the new year of 2019 and the current owners of the property, Genting Group, are holding tight to their investment and have actually purchased sizable chunks of additional land immediately surrounding the area as in the Omni Mall and Hotel.