#United States #Miami #Terra #Dolphin Company #Miami Seaquarium

Leisure Investments Holdings' Agreement with Terra for Miami Seaquarium

Overview
Leisure Investments Holdings LLC, affiliated with The Dolphin Company, has recently inked an agreement with the Miami-based development firm Terra to transfer the lease of the Miami Seaquarium. This strategic agreement is subject to the approval of the U.S. Bankruptcy Court for the District of Delaware, which is set for a hearing in October 2025. The transition comes on the heels of a robust marketing campaign that attracted multiple offers for the iconic Seaquarium.

Impending Changes to the Miami Seaquarium
As part of this transition, the Miami Seaquarium is set to suspend operations temporarily by late 2025. During this closure, the park will not welcome visitors, and all of its animals will be relocated to ensure their safe transition to new habitats. Leisure Investments Holdings has expressed its commitment to its employees during this transition period, aiming to uphold all wages and benefits while also ensuring the animals receive proper care.

Renovation Plans by Terra
Terra intends to embark on an extensive renovation to modernize the Seaquarium site while honoring its historical significance. Key updates in the planned renovations include:

• - New Accredited Aquarium: The development will feature a new aquarium that will not house any marine mammals, diverging from the Seaquarium's traditional exhibitions.
• - Immersive Experiences: Terra plans to create marine and aquatic experiences that highlight the natural beauty and environment of Biscayne Bay.
• - Education and Conservation Center: A center focused on research, education, and conservation will be established to promote understanding of marine ecosystems.
• - Wet-Slip Marina and Dry Dock Facility: This facility aims to enhance marine activities in the area.
• - Wellness Spaces: Environments designed for relaxation and connection with nature will be integrated into the design.
• - Fisherman’s Village: This area will host marine-oriented retail establishments, along with dining options featuring local seafood.
• - Preserved Historic Dome: The iconic Buckminster Fuller Seaquarium dome will be preserved for public events, showcasing the site's history.
• - Green Spaces and Public Baywalk: Expansive landscaped areas and a baywalk will create a welcoming environment for locals and tourists alike.

Ongoing Communication and Transition Process
The agreement signifies not just a change in management but also a renewed vision for the beloved Miami Seaquarium. As negotiations proceed, Leisure Investments Holdings has pledged to maintain clear communication with employees, partners, and the Miami-Dade County government. Steven Strom, the Independent Director overseeing the process, emphasized the dedication to both employee welfare and animal care throughout the transition.

Looking Ahead
"The Miami Seaquarium has been an integral part of Miami's heritage," remarked Strom. He reassured that the company is committed to conducting a transparent and compassionate transition that honors this legacy. David Martin, the CEO of Terra, echoed this sentiment, promising to enhance the Seaquarium’s appeal, ensuring it remains a family-friendly destination that attracts both residents and visitors for years to come.

For additional updates regarding the transition process, information will be available on the Miami Seaquarium’s official website. Details concerning the Chapter 11 bankruptcy case, including court documents, can be accessed through an official link provided by the Dolphin Company.

In summary, the upcoming years herald significant transformations for the Miami Seaquarium. With Terra at the helm, the vision for the Seaquarium promotes sustainability, education, and community engagement, marking an exciting new chapter for this beloved landmark.