The Miami City Commission has approved the transfer of the historic Olympia Theater and its adjacent office building in downtown Miami to Sports Leadership Arts Management (SLAM), a charter school organization co-founded by Armando Christian Perez, known as Pitbull. The commission voted 5-0 on Thursday to sell the nearly century-old property for $10, with SLAM committing to invest at least $57 million in restoring the theater’s performance space and seating area, plus an additional $20 million for upper floor renovations.
Commissioner Joe Carollo described the deal as beneficial for both parties. “This is the best of both worlds,” Carollo said. “They’re putting the money to upgrade the whole building, and we’ll still have the Olympia Theater.”
The Olympia Theater opened in 1926 and is listed on the National Register of Historic Places. It has hosted prominent artists such as B.B. King, Luciano Pavarotti, and Etta James. In recent years, city records show that leaks, structural issues, and outdated systems have left the building in need of major repairs.
As part of its agreement with Miami, SLAM will be required to reconstruct dressing rooms, repair water-damaged plasterwork, retrofit mechanical systems, and restore elements including the marquee and façade.
The sale also addresses a legal dispute with heirs of Maurice Gusman—who saved the theater from demolition in the 1970s—by settling their lawsuit if SLAM completes restoration within five years after permits are issued.
SLAM operates several charter schools across South Florida and intends to open Miami Tech at Mater Innovation Academy at this site. The campus could partner with Miami Dade College for dual enrollment programs under a new name: Miami Innovation & Arts Academy. Additionally, SLAM must provide programming accessible to the public for at least half of each year.
During public comment at Thursday’s meeting, supporters—including employees and parents connected to SLAM—backed the plan.
“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.”
Some residents objected to transferring ownership without broader community input or competitive bidding. Longtime activist Elvis Cruz stated: “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.”
Sandy Moise also 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 best interests of people.”
