Miami Seaquarium conversion rests on three pillars

After months of deliberation following its declaration of bankruptcy, the Miami Seaquarium is shutting its doors Sunday, Oct. 12, with a bankruptcy court due to decide next week whether to approve the sale of the lease to a local developer.

For 70 years, South Florida residents have attended the landmark, witnessing the wildlife on display and sitting in the splash zone during the aquarium’s regular orca performances.

In recent years, the Seaquarium faced controversy following the death of its star attraction, Lolita the orca. Lolita died in August 2023 after 53 years in captivity, months before her planned release into the Pacific Ocean.

Shortly thereafter, the U.S. Department of Agriculture publicly cited the Seaquarium for several violations, including poor animal care in November of that year, with the county announcing that it would terminate the Seaquarium’s lease in January 2024.

The issue was also compounded by the Seaquarium’s owner, the Dolphin Company, declaring bankruptcy in April.

Though the Seaquarium is shutting its doors, it is not the end for the decades-old attraction, as Miami-based realty development firm Terra Realty has stepped in to assume responsibility for the site. Terra aims to purchase the Seaquarium’s lease for $22.5 million, with plans to fully redevelop the site once a sale is approved by the Miami-Dade County Commission.

With development in mind, Terra will close the Seaquarium in its current state and begin the process to rehome its population.

“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 Terra CEO David Martin in a prepared statement. “The result will be a publicly accessible, family-friendly destination that brings together residents and visitors for generations to come.”

A press representative for Terra said the company plans to fully redevelop the site into a newly accredited aquarium with no marine mammals, a concern that garnered the Seaquarium criticism for decades.

The site would also include an education, research and conservation center, immersive aquatic-based experience attractions, a wet-slip marina and dry-dock facility, retail and dining establishments, a publicly accessible baywalk, and preserving the Seaquarium’s geodesic dome, designed by acclaimed architect Buckminster Fuller as an event space.

Though the Seaquarium is set to close, its fate now rests on a pending court hearing on Oct. 17, when the U.S. Bankruptcy Court for the District of Delaware is to announce its decision on whether to approve the sale to Mr. Martin.

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