At this stage, the project is nothing more than, "Hey, wouldn't this be neat?"
HKS Architects has released initial renderings for what a new Miami stadium might look like.
At 65,000 seats, the NFL would view the stadium as too small for the Super Bowl, but it'd instantly join the rotation for the Pro Bowl, any and all bowl games, not to mention Final Fours, major concerts, monster truck rallies and the like.

But that's not the best part.
The red dot is the University of Miami's Coral Gables campus.

Here's the drive from campus to Hard Rock Stadium.

Now here's the drive from campus to the proposed site in Tropical Park.

Located along Tropical Park's East Lake, this stadium would be the South Beach version of Baylor's McLane Stadium.
At this stage of the project, a new Miami stadium prompts far more questions than answers. Most importantly: Who pays for it? Is it the city or the county? Does the University of Miami pitch in at all? Is it appropriate for the city to pay for a stadium for a private university? Considering the location, wouldn't this make more sense for the Dolphins to play here? If you're The U, do you want to share another facility with the Fins?
Johnny Ruiz, son of Canes super booster/de facto owner John Ruiz, is part of the group supporting the project. Perhaps the Ruizes are behind this effort because it would benefit the program and/or the city. Or perhaps they would stand to benefit financially. Or perhaps it's both.
π¨π¨STADIUM UPDATEπ¨π¨
β Johnny Ruiz (@johnnyruiz4) July 11, 2022
Before and After Tropical Park Concept by @HKSArchitects @JohnHRuiz @alex7ruiz πππ pic.twitter.com/lUn4HNs12D
Again, who knows if the stadium happens, and what form/location it eventually takes if and when it does. But, hey, wouldn't this be neat?