The 6,566-seat stadium was built in 1963 on land donated for water sports, and designed by architect Hilario Candela, then a 28-year-old recent immigrant from Cuba. It was dedicated as the Ralph Munroe Marine Stadium opened, completed at a cost of around $2 million ($ million, adjusted for current inflation). A speed boat racer, James Tapp, was killed on opening day. 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).