After sitting empty for more than a decade, the former Miami Herald property on Biscayne Bay is drawing attention again thanks to a proposal by an architecture firm that aims to turn it into Miami Bay Towers.
The project is a proposal by the Gómez Platero architecture firm that envisions four towers, a 300-room hotel, retail, and public spaces.
Right now, it’s just an idea, and has not been approved for construction.
A site with a long history
The story of this property dates back to 2011, when the McClatchy Company—owner of the Miami Herald—sold roughly 14 acres and the newspaper’s building for $236 million to a company tied to the Malaysian conglomerate Genting. The sale allowed the company to bolster its pension fund and pay down part of its debt.
The Miami Herald later moved its operations, and the historic building was demolished in 2014, despite efforts by preservation groups to save it. The paper was produced there for more than half a century, and numerous Pulitzer Prize-winning works were created there.
Emily Michot/Miami Herald/Tribune News Service via Getty ImagesEmily Michot/Miami Herald/Tribune News Service via Getty Images
The vacant former site of the Miami Herald building seen in 2019. (Emily Michot/Miami Herald/Tribune News Service via Getty Images)
From the start, Genting bet on a large-scale development. Its original proposal included a resort complex with a casino, hotels, restaurants, and residential towers. However, the project depended on legislative changes that would have allowed a major casino to operate on the site. When those changes failed to materialize, the plans were redesigned multiple times without ever moving forward.
Since then, one of the most valuable lots in downtown Miami has remained empty.
A billion-dollar sale that never happened
In 2023, Genting announced a deal to sell the property for about $1.225 billion to SmartCity Miami, a group linked to developer David Martin and Terra.
Local leaders greeted the announcement with optimism. Then-Mayor Francis Suarez even publicly highlighted the site’s strategic value.
But the transaction never closed. SmartCity sought extensions and changes to the deal terms—requests Genting rejected. The offer was ultimately withdrawn, and the property remained under the control of entities tied to Genting.
What’s being proposed now?
Based on the available information, the property remains linked to Genting. In 2025, filings were also made with the Federal Aviation Administration (FAA) related to towers between 642 and 645 feet tall—another sign that options for developing the site continue to be explored.
The proposal presented by Gómez Platero calls for four staggered towers, with open spaces between the buildings to preserve bay views and encourage natural light and ventilation.
The plan includes about 689 residences, a 300-room hotel, shops, restaurants, a marina, and a public waterfront promenade. It also envisions phased construction, with two towers in the first phase and the other two later.
How viable is the project?
Gómez Platero describes Miami Bay Towers as being in the concept and schematic design phase—an early step in the planning process. That means it still lacks all the required regulatory approvals and does not yet have an official construction timeline.
Not all the key elements needed to deliver a project of this scale—such as final permits or construction financing—have been publicly announced either.
Even so, today’s context is different from years past. The area around the former Miami Herald site has undergone a major transformation and continues to attract real estate investment. And the location along Biscayne Bay—near the Pérez Art Museum Miami, the Adrienne Arsht Center, and several public transit options—keeps the property among the most appealing on the local market.