The Related Group's Omni Resurrectiong

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The Related Group's Omni Resurrection

Friday, May 20, 2011

Let's shift the focus away from Miami Beach real estate and take a look at what's going on next door in downtown Miami.  You might be familiar with the Omni, a sprawling complex that offers office and retail space plus a Hilton hotel with 525 hotel suites.  Located east of Biscyane Boulevard, the complex has lost a lot of its luster since it opened and has been designated a “dead mall” for over a decade now.  That may all change very soon.

None other than the Related Group, the developer responsible for many of the most acclaimed Miami Beach real estate condominiums has decided to purchase the Omni center's $100 million note.  Although the primary figure behind the whole ordeal (Jorge Perez) is keeping mum on what exactly is in store for the Omni, it's safe to assume that the plans will likely be ambitious and cutting edge in scope.

The Omni project is part of a broader facelift that's happening throughout the downtown Miami area, a pseudo renaissance of sorts.  Even if you don't currently own Miami Beach real estate, it's a great time to explore the downtown area and discover all of its unique qualities.  Just drive across Biscayne Bay and you'll be there in no time.

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