Terra & Integra Eye Iconic 38-Acre Miami Seaquarium Site for Major Redevelopment

Key Points

• 38-acre waterfront site on Virginia Key may be transformed by top Miami developers Terra and Integra Investments

• Dolphin Company, current leaseholder, is under eviction and bankruptcy, opening the door to new proposals

• Development restricted by county park rules—residential likely off-limits, but marina and public uses in play

Two of Miami’s biggest players—David Martin’s Terra and Paulo Tavares de Melo’s Integra Investments—are circling a rare redevelopment opportunity: the 38-acre Miami Seaquarium property on Virginia Key. This high-profile county-owned site is at the center of a legal showdown with the current leaseholder, The Dolphin Company, creating an opening for new visions.

Prime Waterfront Site, Big Legal Drama

• Miami-Dade County owns the land, but it’s been leased to Mexico-based Dolphin Company, operator of the Seaquarium

• In 2023, the county filed an eviction lawsuit against Dolphin, alleging poor maintenance and violations of animal welfare laws

• In March 2025, Dolphin filed for Chapter 11 bankruptcy, complicating efforts to reclaim the site

• County Commissioner Raquel Regalado has confirmed that proposals are under discussion, with a marina topping the county’s wish list

What Terra and Integra Are Respectively Proposing

• Integra Investments has already submitted a 28-page proposal, though details remain under wraps

• Terra has signed an NDA and is actively engaged, but hasn’t confirmed a formal submission yet

• Any deal with either developer would require Miami-Dade Commission approval due to the public ownership of the land

What Can—and Can’t—Be Built

• The land is designated under the county parks system, meaning residential development is likely prohibited

• Permitted uses may include:

  • Marina and dry-dock storage

  • Recreational or cultural venues

  • Eco-tourism, public exhibits, or marine education centers

• Integra Investments has built up a strong marina division (“Integra Marinas”) that focuses on acquiring Class-A marina assets and redeveloping them — for example, they purchased and rebranded the 185‑slip Sea Isle Marina in downtown Miami, and their portfolio includes several large marinas across Florida and beyond.

• Condos, hotels, or other dense commercial uses would face serious legal and community hurdles

Prime Waterfront Land

This is a rare shot at 38 acres of Miami waterfront, but not without strings. Any redevelopment will need to satisfy county, legal, and public interest constraints—meaning public-serving, low-density uses are likely the only viable path. For developers and investors, that means creative approaches like high-end marinas, experiential attractions, or public-private partnerships will be key to unlocking the value here.