City of Miami Finalizes Master Operating Framework for Historic Marine Stadium Revitalization

MIAMI, FL — The City of Miami Commission formally approved the master lease and operating agreement for the comprehensive structural restoration of the historic Miami Marine Stadium on Virginia Key, following voter approval of municipal charter management provisions in the August special election.

Restoring an Architectural Icon for Concerts and Water Sports

The $62 million restoration agreement pairs $35 million in municipal revenue bonds with $27 million in private philanthropic and operator equity to structurally restore the 6,560-seat cantilevered concrete grandstand, install floating performance stages, and construct a public waterfront promenade. The stadium, vacant since Hurricane Andrew in 1992, is slated to reopen in late 2027 as a premier venue for aquatic exhibitions, orchestral concerts, and civic festivals.

Commissioners affirmed that the approved agreement protects municipal taxpayers while safeguarding the architectural integrity of Hilario Candela’s mid-century design.

Environmental Safeguards and Biscayne Bay Protections

The operating agreement includes strict environmental controls to protect Biscayne Bay seagrass beds and manatee habitats during marine staging and event operations.

Civic heritage federations and cultural arts foundations celebrated the resolution of the decades-long preservation campaign.

Engineering Groundbreaking Timeline

Marine structural pilings and concrete cathodic protection engineering will commence in November 2026.