Miami wants to turn the Olympia Theater into a charter school
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The Olympia Theater in April. Photo: Ivan Apfel/Getty Images
The city of Miami is proposing to transfer ownership of the historic Olympia Theater and its adjoining 80-unit building to SLAM Academy, the charter school system co-founded by rapper Pitbull.
Why it matters: The downtown landmark, which opened in 1926 as a silent theater, is listed on the National Register of Historic Places.
- In its heyday, it hosted film screenings, Vaudeville acts and concerts from Elvis Presley and Etta James — but it has fallen into disrepair in recent years, WLRN reports.
The latest: The city proposal, which the City Commission is expected to vote on Thursday, would give the property to SLAM to convert the theater into a public charter school called Miami Innovation & Arts Academy.
- The new owner will be required to make "all necessary interior and exterior repairs" to bring the building up to code within five years.
- The city would retain the right to reclaim ownership of the theater if it is no longer exclusively used for educational purposes or if the repairs are not completed.
Follow the money: The assessed value of the property, at 174 E Flagler St., is $5.47 million, per Miami-Dade property records.
- The resolution proposes transferring the property via a quit-claim deed at no apparent cost to the buyers, according to the resolution.
- The city says the deal would "ensure the restoration and long-term preservation" of the theater, but mayoral candidate Ken Russell slammed the proposal on Instagram as a "giveaway of a city asset."
Context: The city, which was gifted the property in 1975 by philanthropist Maurice Gusman, hopes the proposal can help settle a pair of lawsuits filed by the Gusman family accusing the city of violating the terms of the donation and failing to maintain the property.
- The text of the resolution says it "is intended" to result in the Gusman family voluntarily dismissing its lawsuits.
Flashback: Fans of the Olympia, which is closed for the majority of the year save for occasional events, were excited to see the theater host screenings and parties for the Miami Film Festival in April, per WLRN.
- The city says it anticipates the new school will host Miami Dade College's arts and culture programs, including events like the Miami Film Festival and Miami Book Fair.