Committee Defers Vote on Seaquarium Lease
Miami-Dade panel postpones a decision on a 99-year lease for the former marine park site as developer Terra pursues redevelopment.
Updated on Nov. 10, 2026 in Commercial
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A Miami-Dade County committee deferred its vote Tuesday on a proposed 99-year lease for the former Seaquarium property, which developer Terra is buying out of bankruptcy proceedings. Terra plans to redevelop the 38-acre site with a marina and other attractions.
Why it matters
The lease must clear committee and full County Commission votes before Terra can move forward, and two residents have sued arguing a countywide referendum is required. The outcome will determine the future use of the Biscayne Bay waterfront site.
Terra would invest a minimum of $100 million and pay at least $1.1 million in annual rent under the proposed 99-year lease. The plan includes a marina with 295 wet slips and dry storage for 552 boats, and the committee's vote has been deferred pending further review.
The players
Terra
A Miami developer seeking to acquire and redevelop the former Seaquarium property through a proposed 99-year county lease.
The details
Terra is planning an aquarium, educational areas, restaurants, and a public baywalk on the 38-acre site. The previous Seaquarium owner was evicted by the county and shut down in 2025 amid animal-welfare concerns. Residents said the lease vote was added to the agenda the night before, leaving them no time to digest the terms.
Timeline
2025: Previous Seaquarium owner evicted by the county and shut down amid animal-welfare concerns.
Nov. 10, 2026: Miami-Dade committee defers its vote on the Seaquarium lease.
Dec. 30: Deadline for Terra to close on the lease or risk a bankruptcy court sale to another bidder.
Market Landscape
The proposal follows the county's 2025 eviction and closure of the Seaquarium amid animal-welfare concerns, shifting the site from a marine park toward mixed commercial and marina use. It positions the Biscayne Bay property for waterfront development as the county seeks revenue from a long-term public lease.
Residents who use the Biscayne Bay waterfront could see new marina slips, dry storage, restaurants, and a public baywalk if the lease is approved. The pending lawsuit over whether a countywide referendum is required could delay those changes.
The takeaway
The Seaquarium lease shows how a long-term county contract can reshape public waterfront land, and residents' concerns about process and transparency remain part of the decision.
What happens next
The Miami-Dade committee must clear the lease before the full County Commission can vote, and Terra must close on the lease by Dec. 30 to avoid a bankruptcy court sale.
Further reading
For more on commercial property deals in the area, explore Commercial coverage.
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