Construction has commenced on the Residences at Marina Village, a significant new development poised to enhance the Riviera Beach waterfront. This project, a collaboration between Related Urban and the Riviera Beach Community Redevelopment Agency, will introduce 149 mixed-income apartments, marking a key step in the area’s broader redevelopment.
Key Takeaways
- The Residences at Marina Village will offer 149 mixed-income apartments.
- The project received a $15.4 million State Apartment Incentive Loan.
- Homes will cater to individuals earning between 30% and 110% of the area median income.
- The development aims to provide stable, attainable housing options for working families.
A New Era for Riviera Beach Waterfront
The Residences at Marina Village represents a pivotal moment for both Related Urban and the city of Riviera Beach. This development is more than just a building; it’s designed to offer working families a genuine opportunity to thrive in the community. With rising rents and long commutes impacting many households, this project aims to provide high-quality, attainable homes, allowing families to live closer to their jobs, schools, and the vibrant heart of the community.
Funding and Affordability
This ambitious project secured a $15.4 million State Apartment Incentive Loan through Florida Housing Finance Corporation’s Live Local Mixed-Income, Mixed-Use and Urban Infill Developments program. Notably, it was the first project in the state to benefit from this specific funding initiative. The eight-story building will feature apartments designated for individuals and families earning between 30% and 110% of the area median income, ensuring a diverse and inclusive community.
Amenities and Community Features
Residents of the Residences at Marina Village will enjoy a range of amenities designed to enhance their living experience. These include a community pool, a modern fitness center, and structured parking facilities. The development will also incorporate mixed-use retail space, adding convenience and vibrancy to the neighborhood. Furthermore, the prime location offers residents picturesque views of the Intracoastal Waterway, blending urban living with scenic beauty.
Vision for the Future
Albert Milo, Jr., President of Related Urban Development Group, emphasized the project’s significance, stating, "As our first project in the city, it’s about more than a building – it’s about giving working families a real chance to thrive." The development is committed to fostering stability, creating opportunities, and building a place that residents can be proud to call home, contributing to the overall revitalization and economic well-being of Riviera Beach.