The Miami City Commission has approved the sale of the historic Olympia Theater and its adjacent office building in downtown Miami to Sports Leadership Arts Management (SLAM), a charter school network co-founded by rapper Armando Christian Perez, known as Pitbull. The deal, finalized with a unanimous 5-0 vote on Thursday, transfers the nearly century-old landmark for $10.
Under the agreement, SLAM will invest at least $57 million into restoring the theater’s interior performance space and seating area, and allocate an additional $20 million for renovations to the upper floors. Commissioner Joe Carollo said, “This is the best of both worlds. They’re putting the money to upgrade the whole building, and we’ll still have the Olympia Theater.”
The Olympia Theater, which opened in 1926 as a silent movie palace designed by John Eberson and later renovated by Morris Lapidus, has hosted prominent artists such as B.B. King, Luciano Pavarotti and Etta James. The property was added to the National Register of Historic Places in 1984. In recent years, however, city records indicate that leaks, structural damage and outdated systems have led to significant deterioration.
SLAM’s restoration plan requires reconstructing dressing rooms and crew areas, repairing water-damaged plasterwork, updating mechanical systems and restoring key features including the marquee, façade, roof and ticket booth.
The sale also brings resolution to a legal dispute between the city and heirs of Maurice Gusman—the developer who saved Olympia from demolition in the 1970s. The Gusman family had sued Miami in 2019 over alleged violations related to management covenants. Under terms of this agreement, if SLAM completes restorations within five years of receiving permits, both parties will settle their lawsuit.
SLAM intends to open Miami Tech at Mater Innovation Academy at the site. The campus is expected to collaborate with Miami Dade College for dual enrollment opportunities and be renamed Miami Innovation & Arts Academy. According to deal terms, SLAM must offer public programming at least 180 days each year.
Public response was divided during Thursday’s meeting. Supporters included charter school employees and parents associated with SLAM-affiliated schools. “Olympia is an iconic landmark that must be preserved,” said Millie Sanchez, SLAM co-founder and CEO. “Our proposal saves the Olympia Theater, and it saves the city and its taxpayers from bearing that cost. The Gusman family, the original benefactor, supports this plan.”
Opponents raised concerns about transferring public property through what they described as a non-transparent process. Activist Elvis Cruz commented: “Over 45 years of civic activism I have learned the city of Miami loves to do things for its own comfort and convenience, even if it causes discomfort and inconvenience for residents… Don’t sell the Olympia Theater. Please restore it.” Another activist Sandy Moise criticized officials’ handling of negotiations: “City officials have been acting like lobbyists… What we are closer to is giving away one of Miami’s greatest public treasures in a backroom deal that does not reflect the will or the best interests of the people.”
