Miami Seaquarium set to close under development deal for marina, restaurants
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Under a proposed deal revealed Friday, the Miami Seaquarium would be largely demolished by Miami developer David Martin, who wants to build a marina, restaurants, event space and a saltwater aquarium on the county-owned land that has been home to the marine-mammal theme park since the 1950s.
Instead of dolphin shows and a sea-lion theater, the land would become home to dry-dock boat storage and marina slips; a “Fisherman’s Village” of restaurants and shops; and a conservation center and public baywalk.
The Seaquarium has an aquarium already, but a source familiar with Martin’s plans said the new aquarium would be modernized and larger in order to be an attraction for the site. In a statement, Martin’s Terra development firm and the owner of the Seaquarium business, the Dolphin Company, said the aquarium will be accredited but will not have marine mammals.
“The Miami Seaquarium has been an iconic property for decades, and we intend to honor that legacy as we enhance the site and elevate its appeal among Miami residents and tourists,” said Martin. “The result will be a publicly accessible, family-friendly destination that brings together residents and visitors for generations to come.”
Martin’s plans were revealed in a filing in federal bankruptcy court on Friday as the Seaquarium owner’s pick to purchase the lease that the theme park has with Miami-Dade County. The deal means the Seaquarium could shut down within weeks, with the Dolphin Company saying the agreement calls for the theme park to close sometime in 2025.
Miami-Dade Commissioner Raquel Regalado, whose district includes the Seaquarium property, has been part of the county talks with trustees for the Dolphin Company in bankruptcy court. She said she thought the Seaquarium brand would remain once the property reopens and that it would be a family friendly destination.
“It’s still going to have educational programming. It’s still going to educate about marine life. It’s just going to do it in a better way,” she said. “The key is to do something that honors the legacy of the Seaquarium. The good part of it. Not the shabby part of the last decade. We don’t want that anymore.”
Last year, Miami-Dade launched eviction proceedings against the Seaquarium, citing allegations of subpar care for dolphins and other animals there. The Seaquarium denied the claims, but the eviction attempt was cited by Dolphin Company lawyers as one reason the lease has been challenging to sell. County restrictions were another reason. Because the property is part of the county’s park system, commercial operations are limited. The waterfront land off downtown Miami could not be redeveloped for housing without a countywide referendum changing Miami-Dade’s charter.
Martin’s plan limits development to commercial activity already in place at other county parks: restaurants, marinas and concessions. In a joint statement with Regalado, Mayor Daniella Levine Cava endorsed Martin’s plan as a launching a new era for the Seaquarium land.
“This agreement represents a major step forward for Miami-Dade County, opening a new chapter in marine life education and Biscayne Bay preservation,” the statement read. “It will also create a vibrant community destination where residents and visitors alike can enjoy the Bay, access boating opportunities, and experience family-friendly entertainment and amenities.”
The dolphins, sea lions and other marine mammals that have been the stars of the park since the days of “Flipper” will be relocated, according to the statement. The Dolphin Company owns similar theme parks around the world, so it’s possible the sea animals will be relocated within the chain.
In a statement, the Dolphin Company said the marine mammals would be relocated by the end of the year and that it has hired a consultant specializing in animal transfers to coordinate the relocations. “The Company will prioritize the health, wellness and safety of the animals at every opportunity,” the statement said.
Martin’s development plan needs approval from the Miami-Dade County Commission, which has already endorsed multiple projects by the high-profile developer and active donor in Miami-Dade races.
The deal’s first hurdle is approval by a federal bankruptcy judge in Delaware, where the Dolphin Company is trying to raise funds and negotiate with creditors to reduce its debt and reorganize its business. Court records say Martin is paying $23 million to purchase the lease.
The Miami Herald reported this month that the company’s representatives have been shopping around the Seaquarium lease to would-be developers, including Terra and the Miami-based marina operator Integra.
If the deal is approved in court, Martin would then need the support of county commissioners to take over the lease for the 38-acre site on Virginia Key in Miami.
While the announced plans envision a full makeover of the Seaquarium site, one iconic structure is set to remain. Martin said he plans to preserve the geodesic dome that covers seats at the sea-lion theater. The golden gum-drop shaped structure designed by famed architect Buckminster Fuller is visible from Biscayne Bay. A statement from Terra said the dome would house “event space for public and private gatherings.”
This story was originally published September 26, 2025 at 4:59 PM.
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