With its plans for a casino hotel on hold, Genting subsidiary Resorts World Miami signed a multiyear deal with Loud and Live to hold events on the former site of the Miami Herald in downtown Miami.
The 14.6-acre site at 1 Herald Plaza hosted the inaugural Art Miami and Context Art Fair in early December, during Art Basel. Genting cleared the waterfront site and paved it to hold the event. Resorts World Miami hopes to stage more events there – such as music, entertainment and sports – using temporary structures.
“Resorts World has been looking for the right group and the right opportunity to engage the property, and bring value to the community,” Resorts World VP of Operations Ray Valentino said. “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.”
Based in Miami, Loud and Live recently announced that it would produce “¿Qué Pasa, U.S.A?” – a play based on the popular sitcom about a Cuban exile family in Miami – at the Adrienne Arsht Center for the Performing Arts, starting in May. It was also a partner of the first Tequila Bay Fest, featuring country music artists, at Miami Marine Stadium Park in September.
“With its impressive offerings of large-scale space, waterfront setting, stunning views and a central location, Herald Plaza is an ideal event site for lifestyle brands, entertainment, sports properties and global corporations,” Loud and Live CEO Nelson Albareda said. “We look forward to securing Herald Plaza its place on the shortlist of the best event venues internationally, and partnering with Resorts World to do so.”
Geting’s Resorts World Miami acquired the property from the Miami Herald for $236 million in 2011. The company originally proposed a massive casino hotel, but state lawmakers have resisted efforts to legalize gambling outside of pari-mutuels. However, Resorts World Miami has explored building a mega yacht marina.
Since that acquisition, more condos have been developed in the area. So the “loud” part of Loud and Live may not be all too welcomed by some residents.
