Oh my! Terra Group is on a tear! (sorry for the pun, but here we are).
Not even a week after the whole of Miami was woken up before 5am for a test alert, we receive this news. The old Miami Herald site is under contract with none other than David Martin plunking down $1.2 Billion for the site. This is jolting, but in a good way.
Genting purchased the land over a decade ago for what was then a staggering $236 million. They demolished the antiquated headquarters of the Miami Herald and had planned an adult-friendly casino-rich hotspot that could maybe rival Las Vegas. At best, it competed with the Miccosukee Indians’ casino empire, which is something we don’t want and the court rulings declared the same.
Fast forward to today and David Martin is clearly on a mission. Updates surrounding the site have been sketchy at best. What we do know is that Terra Group is very bullish right now. They recently partnered with Major Food Group on Villa Miami, just north of this build site. Given their portfolio and reputation, we are welcoming this news with open arms and high hopes.