Some of South Florida’s major developers are in discussions to redevelop the Miami Seaquarium property, a 38-acre site on Virginia Key owned by Miami-Dade County. According to reporting from the Miami Herald, Integra Investments, led by Paulo Tavares de Melo, has presented its vision for the property through a 28-page submission. David Martin of Terra is also involved in the talks and has signed a non-disclosure agreement; however, it is not clear if he has made a formal proposal. A spokesperson for Martin declined to comment.
County officials have long considered adding a marina at this location. “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,” she added. “That’s a big need for the county.”
The future of the Seaquarium, which opened in 1955 and served as a filming location for the 1960s show Flipper, is uncertain amid these redevelopment talks. The Dolphin Company of Mexico holds a ground lease on the property at 4400 Rickenbacker Causeway but has faced legal action from Miami-Dade County over alleged failure to maintain facility standards and violations of federal animal welfare laws. In 2023, Tokitae (also known as Lolita), an orca housed at the park, died after years of activist efforts aimed at her retirement.
Representatives from Seaquarium dispute these allegations. The Dolphin Company, headed by CEO Eduardo Albor, filed for Chapter 11 bankruptcy earlier this year and is working on financial restructuring.
The process surrounding control of both company and property has seen conflict. In April, Bloomberg reported that Albor and armed associates took over Dolphin’s Cancun headquarters. Later in June, WLRN noted that a U.S. bankruptcy judge sanctioned Albor $10,000 per day for failing to comply with court orders.
Any deal involving new development at this waterfront site will require approval from county commissioners because it remains public land. Additionally, existing land use restrictions—since it is part of the county parks system—limit possibilities such as residential construction.
