David Martin, a prominent developer recognized by one magazine as the “King of Miami,” is currently seeking to add another title to his repertoire: “King of the Rickenbacker.”
This potential new title comes as Martin is in the process of acquiring the Miami Seaquarium, a historic marine attraction once famous as the home of the TV show “Flipper” and the orca, Lolita. Local leaders in Key Biscayne are expressing mostly positive sentiments about Martin’s plans.
Mayor Joe Rasco noted, “He’s becoming part of our community — as an investor,” reflecting the general hopeful outlook of key officials regarding Martin’s interests.
The developer made waves in Key Biscayne last year when he acquired the Silver Sands motel, one of the last beach motels in Florida, with the intention of converting it into a luxury condominium.
This year, Martin has elevated his ambitions further with a proposal to construct a viaduct over Virginia Key, dubbed the Shoreline. This initiative has garnered support from influential local figures such as Commissioner Raquel Regalado and power broker Eugene Stearns. The Village Council recently allocated $900,000 to study the project based primarily on Regalado’s reassurances.
Court documents reveal that Martin’s Terra Group is offering $22.5 million to the county for the Seaquarium lease, which has about 20 years remaining. Under Martin’s proposed plan, the Seaquarium’s dolphin, seal, and sea lion shows would cease operations, paving the way for a new marina and marine-themed attractions featuring an aquarium and restaurants on the expansive 38-acre site.
The existing lease, which dates back to 1954, restricts land use to park activities and prohibits residential development without a public vote.
This substantial deal is awaiting a review from a federal bankruptcy judge in Delaware, who expressed prior concerns regarding the welfare of the dolphins and other sea animals. The ongoing situation has seen tragic incidents, including three dolphins’ deaths while the case has been active at Dolphin Co. parks. A review of the case may occur as soon as next month.
Martin was unavailable for comment regarding the acquisition and proposal. The company managing the Seaquarium on an interim basis disclosed that it had actively marketed the property to attract interest, resulting in a flashy promotional video and engagement with 95 potential bidders. However, they indicated that Martin’s proposal stands the best chance of success, noting that the attraction is experiencing ongoing financial losses.
Local leaders, including Keith Biscayne’s past two mayors, conveyed that Martin has demonstrated commitment and accountability through his community outreach efforts. Rasco emphasized that Martin has already invested $200 million, suggesting that the developer values the traffic situation around the Key.
“This individual and investors have a stake in making sure that we have good traffic on and off the Key. So I’m not concerned at the moment that he would do something to make that situation worse,” Rasco stated.
Mike Davey, another former mayor, acknowledged Martin’s efforts to connect with community groups regarding the Silver Sands project. “That’s the sign of somebody who is trying to be mindful of the community that they’re working, and I like that,” he said.
However, Davey also raised concerns about the environmental implications of the proposed marina, particularly regarding potential dredging in Biscayne Bay, which is known to have significant water pollution issues.
“How are they going to do that? I would assume that if they’re doing a marina, there’s going to be quite a bit of dredging. You’ve got heavy metals all over that bay bottom,” he cautioned.
Despite these concerns, he affirmed the importance of taking decisive action given the critical state of both the Seaquarium and the Causeway.
“Change is always nerve-wracking,” Davey concluded, echoing the sentiment of many in the community.
image source from：kbindependent
