Some of South Florida’s biggest developers are in secretive talks to develop a rare, 38-acre waterfront property in Miami.
It’s the Miami-Dade County-owned Miami Seaquarium property on Virginia Key in Biscayne Bay, and little is known about proposals so far, according to reporting from the Miami Herald. Integra Investments, headed by Paulo Tavares de Melo, has submitted a 28-page presentation on its vision for the site. David Martin of Terra has also thrown his hat in the ring, and signed an NDA to do so, the outlet reported. A spokesperson for Martin declined the outlet’s request for comment, and it is unclear whether the developer has submitted a formal proposal.
County leaders have expressed interest in a marina on the site.
“A marina has always been a discussed use there,” Miami-Dade Commissioner Raquel Regalado told the outlet. Regalado is the commission’s representative in lease talks with the Dolphin Company, and the Seaquarium site is part of her district.
“On the county’s side, there has always been a desire to expand marinas and to expand dry-dock storage,” she told the outlet. “That’s a big need for the county.”
It may mark the end for the Seaquarium, which opened in 1955, and is one of the oldest oceanariums in the country, according to reports. Famously, the hit 1960s show Flipper filmed at the theme park.
The Seaquarium’s parent company, Mexico-based Dolphin Company, has a ground lease with the county for the site at 4400 Rickenbacker Causeway. The county filed an eviction lawsuit against Miami Seaquarium last year, alleging Dolphin failed to maintain Miami Seaquarium in good repair and clean condition. The county also alleged the Seaquarium was in violation of the federal Marine Mammal Act and Animal Welfare Act, citing substandard animal care. In 2023, the orca Tokitae, also known as Lolita, died in her tank of renal failure, following a decades-long effort by activists to retire her to a sanctuary, according to published reports.
Seaquarium representatives deny the allegations, the Herald reported. Dolphin, led by CEO Eduardo Albor, filed for Chapter 11 bankruptcy in March, and is seeking to raise cash in its restructuring, according to reports.
It’s been a contentious process. In April, Albor and about 20 armed men took control of Dolphin’s Cancun headquarters, Bloomberg reported. In June, a U.S. bankruptcy judge moved to Sanction Albor for $10,000 a day, in response to him defying court orders, WLRN reported.
As the company restructures and pursues deals, Miami-Dade has a unique position to weigh in on the future of the Seaquarium property. Because the site is county-owned, any agreement Dolphin came to with Integra, Terra, or another firm, would require a vote by the county commission. Redevelopment of the site is also complicated by its land use restrictions. The property is part of the county parks system, which means condos and apartments are likely a no-go.
–– Kate Hinsche
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Miami Seaquarium hit with eviction lawsuit