---
title: Miami Voters Approve a Deal to Reopen the Abandoned Marine Stadium on Biscayne Bay
description: Miami voters approved a 40-year deal to run and revive the Marine Stadium on Virginia Key, closed since 1992, though the full restoration bond is not yet issued.
author: Dr Marina Nani (Editor-in-Chief)
updated: 2026-08-19T05:07:06.692Z
canonical: https://richtravelmagazine.com/article/miami-marine-stadium-vote-reopen-restoration
image: https://cdn.nanimediahouse.com/miami-marine-stadium-175385.webp
categories: Destinations
content_type: News
region: Miami
publication: Rich Travel Magazine
schema_type: Article
---

Miami voters on August 18, 2026 approved the ballot measure that clears the path to reopen Miami Marine Stadium, the waterfront arena on Virginia Key that has sat empty for 34 years. The result came from a special city election. What voters signed off on is a management agreement, not a funded rebuild.

The measure authorizes a 40-year deal to hand day-to-day operation of the stadium and an adjacent temporary events area, called a flex park, to Global Spectrum L.P., a subsidiary of the arena operator Oak View Group, working with Breakwater Hospitality Group. Under the terms, the city keeps 93 percent of event revenue after a management fee of $33,333 a month, and 85 percent of sponsorship income. Global Spectrum has pledged up to $10 million toward initial restoration work.

## The Rebuild Money Still Has to Be Found

The vote settles who will run the venue. It does not pay to fix it. A full restoration is estimated at roughly $65 million to $85 million, and that money would come from a special bond issued later, and only if the revived venue shows it can generate enough revenue to support one. This is a management contract and a [revenue-first plan](https://richtravelmagazine.com/article/immersive-light-shows-cathedrals-restoration): the operator takes over, events begin in the flex park and the repaired sections, and the larger restoration money follows only if the numbers hold up.

The caution has a history behind it. A $45 million bond authorized in 2016 was never issued and expired in 2021. A proposed $61.2 million restoration bond in 2023 was [cut to about $6 million](https://www.miamitodaynews.com/2023/10/31/miami-marine-stadium-bond-funding-decimated/) over concerns about operating costs and demand. As of late 2024, only the structural pilings had been repaired, paid for with about $2.4 million in grants, and the stadium itself stayed closed. The new deal is designed to answer the concern that stalled those earlier bonds: prove the demand first, then borrow against it.

## A Concrete-Roofed Arena Built for Powerboat Racing

Miami Marine Stadium opened in 1963 on Virginia Key, facing a basin off Biscayne Bay. The Cuban-born architect Hilario Candela designed it when he was 28. Its signature is the roof: a folded concrete span that cantilevers 326 feet over the grandstand with no columns at the front edge, an engineering record of its kind at the time and a marker of mid-century modern concrete design.

The building was made for the water. It was a powerboat-racing venue, with the crowd looking out over the basin where the boats ran, and it also staged concerts from a floating stage moored in front of the seats. Jimmy Buffett and Sammy Davis Jr. both performed there. The layout put the audience between the concrete roof at their backs and the open bay in front, an arrangement no indoor arena could copy.

## Thirty-Four Years Closed, and a Wall for Graffiti

The stadium closed on September 18, 1992, after Hurricane Andrew, when the city declared it unsafe. It has stood empty since. Over those decades the vacant concrete became one of Miami's best-known canvases for graffiti and street art, its interior walls layered with paint while the structure itself held.

The building drew preservation attention through the same years. The National Trust for Historic Preservation named it one of America's 11 Most Endangered Historic Places in 2009 and designated it a [National Treasure](https://savingplaces.org/places/miami-marine-stadium) in 2012. Candela spent years advocating for its return. He died in 2022, without seeing it reopen.

## No Reopening Date Until the Financing Is Settled

There is no confirmed reopening date for the full stadium, and there will not be one until the financing question the earlier bonds could not clear is answered. What the vote changes is the stadium's footing: for 34 years it was an abandoned landmark with no workable plan, and now it has an operator under a signed 40-year contract, responsible for making it generate revenue. Whether that revenue arrives will decide if the restoration bond ever follows.

You can find out more about the preservation effort at [restoremarinestadium.org](https://restoremarinestadium.org).

## FAQ

**Q: What is the Miami Marine Stadium?**
A waterfront arena on Virginia Key in Miami, opened in 1963 and built for powerboat racing and concerts staged from a floating platform. It is known for a 326-foot cantilevered concrete roof and is regarded as a mid-century modern landmark.

**Q: Who designed it?**
The Cuban-born architect Hilario Candela, who was 28 when it opened. He spent years advocating for its restoration and died in 2022 without seeing it reopen.

**Q: Why was it abandoned?**
The city closed it on September 18, 1992 after Hurricane Andrew and declared it unsafe. It has stood empty for 34 years and became a well-known site for graffiti and street art.

**Q: What did voters approve?**
On August 18, 2026 they approved a 40-year management agreement giving Global Spectrum, a subsidiary of Oak View Group, with Breakwater Hospitality, the right to run the stadium and an adjacent flex park. The city keeps 93 percent of event revenue after a monthly fee and 85 percent of sponsorship income, and the operator pledged up to $10 million toward early restoration. The vote covers the operating deal, not a funded rebuild.

**Q: When could it reopen?**
There is no set date. Events can begin in the flex park and repaired sections, but a full restoration estimated at $65 million to $85 million depends on a later bond that would only be issued if the venue earns enough to support it.