Genting Group subsidiary Resorts World has signed a multi-year deal with events firm Loud and Live to host events at the 6-hectare former site of the Miami Herald in downtown Miami.
The property, currently called Herald Plaza, will host a wide variety of special events across the lifestyle, art, music, entertainment and sports worlds, among others. The location will accommodate a variety of temporary structures in order to satisfy the needs of any given event.
Resorts World began hosting events at the site in December last year, starting with the Art Miami and Context Art Fair.
Ray Valentino, Vice-President of Operations at Resorts World, said: “Resorts World has been looking for the right group and the right opportunity to engage the property, and bring value to the community.
“We are confident that Loud and Live, a national leader in the live events, marketing and entertainment industry, will establish the property as one of the top waterfront destinations in south Florida to host premier local, national and international events.”
Genting Group purchased the land for $236m in 2011 with plans to develop a luxury casino and resort, however the company faced legislative opposition to the gambling element so the plan was shelved.
The company has since acquired a further 6 hectares of land in the area and struck a deal last year to develop a 300-room hotel on the site of a county bus terminal. The project would include 20 floors of residential units in a tower above the revamped transit stop.