Some of South Florida’s major developers are in discussions about redeveloping the Miami Seaquarium property, a 38-acre waterfront site on Virginia Key in Biscayne Bay owned by Miami-Dade County. According to the Miami Herald, Integra Investments, led by Paulo Tavares de Melo, has submitted a 28-page presentation outlining its vision for the location. David Martin of Terra is also reportedly interested and has signed a non-disclosure agreement as part of the process. A spokesperson for Martin declined to comment, and it remains unclear if a formal proposal has been submitted.
County officials have indicated that expanding marina facilities is under consideration for the site. “A marina has always been a discussed use there,” said Miami-Dade Commissioner Raquel Regalado, who represents the district and is involved in lease negotiations with the Dolphin Company. “On the county’s side, there has always been a desire to expand marinas and to expand dry-dock storage,” Regalado added. “That’s a big need for the county.”
The redevelopment talks come amid ongoing legal and financial issues involving the current tenant. The Mexico-based Dolphin Company holds a ground lease for the Seaquarium at 4400 Rickenbacker Causeway but faced an eviction lawsuit from Miami-Dade County last year. The county alleged that Dolphin failed to maintain the facility properly and cited violations of federal animal welfare laws due to substandard care at the park.
In 2023, Tokitae (also known as Lolita), an orca kept at the Seaquarium, died from renal failure after years of activism calling for her retirement to a sanctuary.
Seaquarium representatives deny allegations regarding maintenance and animal care standards. Meanwhile, Dolphin Company CEO Eduardo Albor filed for Chapter 11 bankruptcy in March as part of efforts to restructure finances.
Recent reports describe heightened tensions during this period; Bloomberg reported that Albor and about 20 armed men took control of Dolphin’s Cancun headquarters in April. In June, WLRN reported that a U.S. bankruptcy judge sanctioned Albor $10,000 per day for defying court orders.
Any future development agreement between Dolphin Company and interested developers such as Integra or Terra would require approval from the Miami-Dade County Commission since the land is publicly owned. Land use restrictions tied to its status within the county parks system are expected to limit options like condominiums or apartments on-site.
