MIAMI — More than 120 employees will lose their jobs once the Miami Seaquarium closes later this year and finishes its 70-year run at one of South Florida’s most famous tourist attractions.
According to a report from the South Florida Business Journal, Miami developer Terra has agreed to purchase marine park rental rights from the US Bankruptcy Court for $22.5 million. The company plans to redevelop Virginia’s key properties into a complex project featuring a marina, event space, dry docks, education centers and a new saltwater aquarium.
According to a recent filing in the US Bankruptcy Court, Terra has agreed to gain control of the Miami Seaquarium Lease for $22.5 million. The Miami-based developer will convert waterfront properties into a mixed-use destination with a marina, event space, dry docks, education centers and a modern saltwater aquarium.
Seaquarium’s parent company, Leisure Investment Holdings LLC (also known as Dolphin Holdings), is seeking court approval to assign a lease to Miami-Dade County to Terra affiliates. A transaction hearing is scheduled for October 17th.
Layoffs to attack all departments
In a notice of the Worker Coordination and Retraining Notification Act, Leisure Company said the closure would eliminate 129 jobs within two weeks of November 25th or the day. Layoffs affect almost every department of Miamicialiaum, including:
46 Animal Care Staff 18 Maintenance Workers 12 Food and Beverage Employees 8 Photographers 7 Security Guard 7 Divers
The end of the long-standing Miami attractions
Miami Sicorium has been one of Miami-Dade County’s most famous tourist attractions for nearly 70 years. However, in recent years, the park has faced surveillance from animal rights activists who have denounced it for animal care and outdated facilities.
Leisure Investment Holdings filed for Chapter 11 bankruptcy protection on April 11, fighting Miami-Dade County on its lease. County officials were already moving to terminate the lease for alleged animal welfare violations.
In a September 26 declaration, Robert Wagstaff of restructuring company Riveron Management Services said the company had pursued potential buyers but decided that the auction would cost too much time and money.
New chapters on Virginia Key
If approved, Terra’s acquisition marks the end of the Miami Seaquarium era, but opens the door to a new redevelopment project on the county’s owned land. Virginia key properties remain limited to “public park purposes only” under the Miami-Dade Home Rules Charter. This means that Terra’s plans must meet these guidelines.
The Miami Seaquarium Closure highlights major changes in tourism in South Florida, with one of Miami’s oldest attractions closing the gates, shaping a new vision for Virginia Key.
