Resorts World Miami Announced – Miami Heralds’s Building Sold for $236 Million

By Samir Patel on June 1st, 2011

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: