Miami Seaquarium Redevelopment: Terra and Integra Compete for Virginia Key Waterfront

Two of Miami’s biggest developers—David Martin’s Terra and Paulo Tavares de Melo’s Integra Investments—are pursuing a rare opportunity: the potential Miami Seaquarium redevelopment on Virginia Key. This 38-acre waterfront site has been tied up in legal disputes with its current leaseholder, Mexico-based Dolphin Company, but new proposals could soon reshape its future.

Prime Waterfront Site, Big Legal Drama

The Miami Seaquarium site, owned by Miami-Dade County, remains at the center of heated negotiations. The county filed an eviction lawsuit in 2023 against Dolphin Company for poor maintenance and animal welfare violations. In March 2025, Dolphin filed for Chapter 11 bankruptcy, slowing the county’s push to reclaim the site. Still, Commissioner Raquel Regalado confirmed that redevelopment proposals are under review, with a marina topping the county’s wish list (Miami-Dade County site).

Terra and Integra Enter the Picture

Integra Investments already submitted a 28-page proposal, though details have not yet been disclosed. Terra signed a nondisclosure agreement and remains engaged but has not confirmed a formal submission. Any final deal will require Miami-Dade Commission approval because the land belongs to the public. For background on Terra’s recent projects, see Terra Group and for Integra’s marina division, visit Integra Marinas.

What Can—and Can’t—Be Built

The Miami Seaquarium property sits within the county parks system, which makes residential projects off-limits. Condos, hotels, or large-scale commercial development would face strong opposition. Permitted uses include marinas with dry-dock storage, cultural or recreational venues, eco-tourism projects, and marine education centers.

Integra brings relevant expertise through its “Integra Marinas” division. The firm redeveloped the 185-slip Sea Isle Marina in downtown Miami, which it rebranded as a premier Class-A facility. Its portfolio now includes several marinas across Florida and beyond. Learn more about Miami’s broader redevelopment trends in our Miami real estate news coverage.

Unlocking Value on Rare Waterfront

The chance to redevelop 38 acres of Miami waterfront is rare but comes with limits. County rules, public ownership, and ongoing legal drama mean only public-serving, low-density uses are likely. For Terra and Integra, success will depend on creative approaches such as high-end marinas, eco-tourism attractions, or public-private partnerships that align with community and environmental priorities.

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