Terra Proposes Miami Seaquarium Redevelopment With Aquarium, Marina and Waterfront Walkway

Terra has unveiled a master plan called Living Bayfront for the former Miami Seaquarium at 4400 Rickenbacker Causeway on Virginia Key. The company, led by CEO David Martin, was selected through bankruptcy proceedings involving the former operator to pursue the county-owned waterfront property.

The proposal includes an 83,000-square-foot aquarium that would not house marine mammals, along with a 118,000-square-foot marine research and education center planned with the University of Miami's Rosenstiel School. Other elements include a public marina with 295 wet slips and dry storage for 552 vessels, waterfront dining, a surf lagoon, and restoration of the Golden Dome and the Flipper House.

A central feature is Ocean Walk, a free promenade of roughly three-quarters of a mile along Biscayne Bay. The plan follows Miami-Dade County Commission approval of a land use amendment on first reading on October 20.

For developers and financiers, the project signals a county-backed mixed-use waterfront redevelopment that will still require further approvals. Teams should track the second reading of the land use amendment and the marina's dredging and permitting conditions.