The facility, completed in 1963 on land donated to the City of Miami from the Matheson family, is the first stadium purpose-built for powerboat racing in the United States.

The venue, located just south of Downtown Miami, was revered for its scenic views of Downtown and Miami Beach, hosting motorboat events, and events featuring the likes of Mitch Miller, Sammy Davis Jr., and U.S. President Richard Nixon (whose seasonal winter residence, dubbed "the Florida White House", was on nearby Key Biscayne).

[17] Miami's Planning and Zoning Advisory Board approved the proposal in December 2022,[18] in spite of concerns that the construction of the boat ramp would cause congestion on the Rickenbacker Causeway.

[23] Poured entirely in concrete, the Miami Marine Stadium consists of a cantilevered folded plate roof supported by eight big slanted columns anchored in the ground through the grandstand.

A cut in the seating arrangement allowed spectators to appreciate the full height of the posts, which were pushed as far back as possible to permit unobstructed views over the watercourse.

The Miami Marine Stadium bears striking resemblance to the more elegant horse-racing Hipódromo de la Zarzuela in Madrid, Spain, designed by Carlos Arniches Moltó and Martín Domínguez in 1934–35.

The Stadium was also the site of a number of nationally televised events including the Orange Bowl Regatta (power boat races), the Bill Muncey Invitational and the ESPN All American Challenge Series.

Since its condemnation in 1992, the stadium has become a haven for graffiti artists, but remains an attraction for its photographic panoramic view of the central business districts and barrier islands of Miami.