MIAMI – More than 120 employees will lose their jobs when the Miami Seaquarium, shuts down later this year, ending a 70-year run for one of South Florida’s most recognizable tourist attractions.
According to a report from the South Florida Business Journal, Miami developer Terra has agreed to purchase the leasehold interest of the marine park out of U.S. Bankruptcy Court for $22.5 million. The company plans to redevelop the Virginia Key property into a mixed-use project featuring a marina, event space, dry dock, educational center, and a new saltwater aquarium.
According to a recent filing in U.S. Bankruptcy Court, Terra has agreed to acquire control of the Miami Seaquarium lease for $22.5 million. The Miami-based developer plans to transform the waterfront property into a mixed-use destination featuring a marina, event space, dry dock, educational center, and a modern saltwater aquarium.
The Seaquarium’s parent company, Leisure Investment Holdings LLC — also known as Dolphin Holdings — is seeking court approval to assign its lease with Miami-Dade County to a Terra affiliate. A hearing on the deal is scheduled for Oct. 17.
Layoffs to Hit All Departments
In a Worker Adjustment and Retraining Notification Act notice, MS Leisure Company said the closure will eliminate 129 jobs effective Nov. 25 or within two weeks of that date. The layoffs will affect nearly every department at the Miami Seaquarium, including:
- 46 animal care staff
- 18 maintenance workers
- 12 food and beverage employees
- 8 photographers
- 7 security guards
- 7 divers
End of a Long-Time Miami Attraction
The Miami Seaquarium has been one of the best-known tourist attractions in Miami-Dade County for nearly 70 years. However, in recent years the park has faced mounting scrutiny from animal rights activists who accused it of inadequate animal care and outdated facilities.
Leisure Investment Holdings filed for Chapter 11 bankruptcy protection in April while fighting Miami-Dade County in court over its lease. County officials had already moved to terminate the lease over alleged animal welfare violations.
In a Sept. 26 declaration, Robert Wagstaff of restructuring firm Riveron Management Services said the company pursued potential buyers but determined that an auction would take too much time and money.
A New Chapter on Virginia Key
If approved, Terra’s acquisition will mark the end of the Miami Seaquarium era but open the door to a new redevelopment project on county-owned land. The Virginia Key property will remain restricted under Miami-Dade’s Home Rule Charter to “public park purposes only,” meaning Terra’s plans will have to fit within those guidelines.
The Miami Seaquarium closure underscores a major shift in South Florida tourism, with one of Miami’s oldest attractions shutting its gates while a new vision for Virginia Key takes shape.
