Riviera Beach Approves Affordable Housing Project at Marina Village
Riviera Beach is set to welcome a new affordable housing initiative as city officials have greenlit the Residences at Marina Village, a 149-unit workforce housing development. This move aligns with the city’s broader strategy to enhance residential options while boosting local economies.
Project Overview
- Location: Marina Village, an area between Broadway and Avenue C, just south of East 12th Street.
- Size: 2.4 acres.
- Units: 149 apartments, made up of:
- 62 one-bedroom units
- 87 two-bedroom units
- Building Height: Eight stories.
- Parking: A five-story garage with 276 spaces, complementing the residential units.
- Income Targets: Households earning between 30% to 110% of Broward County’s area median income (AMI), which is currently pegged at $81,900.
Development Team
The project is spearheaded by Related Urban, under the leadership of Alberto Milo, and Tezra Partners, led by former CRA director Tony Brown and contractor Ezra Saffold.
According to Riviera Beach officials, the site plan is already approved, alongside a 99-year lease with the Riviera Beach Community Redevelopment Agency (CRA). Additionally, the developers have secured funding totaling:
- $20.1 million in low-interest loans from the state of Florida and Palm Beach County.
- $1.5 million loan from the CRA.
Construction Timeline
Construction for the Residences at Marina Village is anticipated to commence in the fall of this year following the recent replat approval by the Riviera Beach City Council. The replat allows developers to finalize the necessary permits, paving the way for construction.
Marina Village Master Plan
The Residences at Marina Village is the first residential component in an ambitious redevelopment effort aimed at revitalizing 90 acres of publicly owned land near the Intracoastal Waterway. The master plan envisions a mixed-use space that includes:
- Apartments
- Hotels
- Entertainment venues
Currently, Marina Village features marinas, surface parking lots, event spaces, and the popular Rafiki Tiki Bar & Grill.
Future Developments
Riviera Beach officials are also seeking bids for developers interested in constructing additional amenities at Marina Village, including restaurants and hotels. This follows the collapse of a proposal for a Margaritaville-branded hotel. Interested parties should submit proposals by the end of June.
In addition to the Residences, another project, the Gallery at Marina Village, is in the planning stages. This ambitious endeavor will introduce:
- 418 market-rate apartments
- 3,300 square feet of retail space
- 3,000 square feet designated for office use
Expanding Riviera Beach’s Development Landscape
Riviera Beach is actively encouraging further developments that aim to create jobs and improve the tax base. Notable projects include:
- A proposal from Forest Development’s Peter Baytarian to construct two 25-story condo towers at 3700 Broadway.
- Baytarian’s interest in developing a $325 million mixed-use project on 2.2 acres of city-owned land at 1851 Broadway.
Conclusion
The Residences at Marina Village marks a significant step in providing affordable housing options while invigorating the local economy. With more developments in the pipeline and an active community redevelopment strategy, Riviera Beach is poised for a promising future. For more information on local housing initiatives and development opportunities, visit Broward Housing Council.
By aligning with broader community goals and revitalizing key areas, Riviera Beach is not only investing in its future but also fortifying its position as a desirable destination in South Florida.