Some of South Florida’s major developers are in confidential discussions about the future of the Miami Seaquarium property, a 38-acre waterfront site owned by Miami-Dade County on Virginia Key. The Miami Herald reported that Integra Investments, led by Paulo Tavares de Melo, has presented a 28-page vision for the site. David Martin of Terra is also involved and has signed a non-disclosure agreement regarding his interest. A spokesperson for Martin declined to comment, and it remains unclear if he has submitted an official proposal.
Miami-Dade County officials have shown ongoing interest in expanding marina facilities at the location. “A marina has always been a discussed use there,” said Miami-Dade Commissioner Raquel Regalado, who represents the district including the Seaquarium and is involved in lease negotiations with its current operator. Regalado added, “On the county’s side, there has always been a desire to expand marinas and to expand dry-dock storage. That’s a big need for the county.”
The possible redevelopment could signal an end to the Miami Seaquarium, which opened in 1955 and is among the country’s oldest oceanariums. The park was known as a filming location for the 1960s television show Flipper.
The Dolphin Company, based in Mexico and led by CEO Eduardo Albor, holds a ground lease on the property at 4400 Rickenbacker Causeway but faces legal challenges from Miami-Dade County. Last year, county officials filed an eviction lawsuit against Dolphin alleging failure to maintain proper conditions at Miami Seaquarium and violations of federal animal welfare laws. In addition to these claims, Tokitae (also known as Lolita), an orca held at the facility for decades amid activist campaigns for her retirement, died in 2023 from renal failure.
Seaquarium representatives dispute these allegations according to reports cited by The Herald. Meanwhile, Dolphin filed for Chapter 11 bankruptcy protection in March as part of its financial restructuring efforts.
The situation surrounding Dolphin Company leadership has also drawn attention: Bloomberg reported that CEO Eduardo Albor and approximately twenty armed individuals took control of company headquarters in Cancun earlier this year; WLRN later reported that a U.S. bankruptcy judge sanctioned Albor $10,000 per day after he defied court orders.
Any potential deal involving Integra Investments or Terra would require approval from the county commission because of public ownership of the land. Redevelopment options are limited due to land use restrictions—since it is part of Miami-Dade’s parks system, residential projects such as condominiums or apartments are unlikely.
