In the last week Newspaper publisher McClatchy Co. sold the Miami Herald’s building and land including 14 acres to Genting Malaysia Bhd. for a whopping $236 Million.

According to Mike Speller, President of Resorts World, the future of the lots are expected to become a mixed-use entertainment development with a combination of hospitality, convention, restaurant, retail, residential and commercial uses. The project would create tens of thousands of jobs and be a large draw for tourism.

Here is a video by Chuck Fadely from the Miami Herald on the sale: