Riviera Beach, September 26, 2025
News Summary
Related Group and partners secured a $100.3 million construction financing package to build the Residences at Marina Village, an eight‑story, 149‑unit workforce housing project on a 2.4‑acre site in Riviera Beach. The building will target households earning 30%–110% of area median income and was funded through a mix of public and private sources, including state housing finance, banks, county and CRA contributions. The project sits within the larger 90‑acre Marina Village redevelopment and complements adjacent proposals, while local county programs continue providing short‑term shelter and rehousing support for unhoused residents.
Related Group secures $100.3M to build 149-unit workforce apartments at Marina Village in Riviera Beach
Key financing, site and project details
The developer behind the project has closed on $100.3 million in construction financing for the planned Residences at Marina Village, a new eight‑story, 149‑unit apartment building on a 2.4‑acre parcel at 57 East 12th Street in Riviera Beach. The complex will serve households earning between 30 percent and 110 percent of Palm Beach County’s area median income (AMI); the county’s AMI was $104,000 in 2024.
The financing package is a combination of public and private sources that together total $100.3 million. Public and institutional contributions documented in records include $54 million from the Florida Housing Finance Corporation and the Bank of New York Mellon, $4.7 million from Palm Beach County, and $1.5 million from the Riviera Beach Community Redevelopment Agency. Lenders and private partners include $38.6 million from M&T Bank and a $1.5 million investment from RUDG Investor LLC, a Florida entity linked to the project’s lead developer. Those sources combined equal the announced construction financing total.
Project context and partners
The Residences at Marina Village is part of a broader redevelopment push on a roughly 90‑acre Marina Village site located just north of the Port of Palm Beach and opposite Peanut Island. The city approved the eight‑story proposal in June. The project team lists a Miami‑based developer working with Tezral Partners, a firm led by a former Riviera Beach redevelopment official and another local principal.
The same development team — including Tezral, the lead developer and an Aventura‑based partner — is also working on a larger adjacent project called the Gallery at Marina Village. That scheme is planned on 2.5 acres at 1300 Broadway as a 20‑story building with 418 units, about 3,000 square feet of retail, 3,000 square feet of office space and a 648‑space parking garage. Local redevelopment officials moved forward in July with a new procurement step after the initial round produced a single firm deemed responsive to the first request.
Other proposals and site competition
Separately, a developer based in California has signaled interest with a proposed eight‑story, 150‑room hotel concept for the Marina Village area under a known lifestyle brand. That larger vision would layer in condos, restaurants, an additional 150‑key hotel and a roughly 900‑space parking garage if advanced. The site is now drawing multiple proposals as the city seeks to shape long‑term redevelopment of the waterfront parcel.
Local housing support programs and recent motel initiative
Concurrent with the redevelopment work, county‑funded housing efforts produced immediate results for people experiencing homelessness in Riviera Beach. Since May, a motel‑based housing program placed people in two local motels for short stays while they worked toward permanent housing. The program, supported by a nearly $480,000 Palm Beach County grant, sheltered roughly 130 people and helped at least 100 individuals transition toward permanent homes. Participants were offered two‑month motel stays (with an additional week for families), and the program covered first and last month’s rent plus security deposits to facilitate moves into stable housing. The temporary motel stays also enabled some participants to focus on health and rehabilitation while housing specialists helped them find longer‑term options.
Regional development note: West Palm Beach luxury project breaks ground
In related regional activity, a joint venture closed a $285 million construction loan and began construction on a luxury hospitality‑oriented apartment project in West Palm Beach. That development will combine 146 luxury residences with a hotel component featuring 110 suites and a roster of upscale amenities. The construction debt was provided by a private capital lender and the borrower was represented by a financial advisor. The project team reported strong early residential demand and design by established architecture and interior design firms. This development joins other large financing transactions in the county that together indicate continued investor appetite for mixed‑use and residential product in South Florida.
What happens next
With construction financing closed, the team behind Residences at Marina Village can move into the construction phase pending routine permitting and scheduling steps. The Gallery at Marina Village remains a nearby, larger project in the pipeline, and other prospective proposals are under consideration for the Marina Village footprint. City and county agencies will continue to coordinate approvals, public infrastructure planning and any additional incentives tied to the waterfront redevelopment.
Frequently Asked Questions
1. What is the Residences at Marina Village?
The Residences at Marina Village is a planned eight‑story, 149‑unit apartment complex on 2.4 acres at 57 East 12th Street in Riviera Beach designed for households earning between 30 and 110 percent of Palm Beach County’s AMI.
2. How much construction financing was secured and from whom?
The project closed on a total of $100.3 million. Major components documented in records include $54 million from the Florida Housing Finance Corporation and Bank of New York Mellon combined, $38.6 million from M&T Bank, $4.7 million from Palm Beach County, $1.5 million from the Riviera Beach CRA and $1.5 million from a private investor entity associated with the lead developer.
3. Where does Residences at Marina Village sit within the larger Marina Village site?
The Residences parcel is part of a roughly 90‑acre redevelopment area north of the Port of Palm Beach and opposite Peanut Island. Adjacent to the Residences site is a proposed larger project known as the Gallery at Marina Village.
4. What is the Gallery at Marina Village?
The Gallery at Marina Village is a proposed 20‑story building on 2.5 acres at 1300 Broadway with 418 units, 3,000 square feet of retail, 3,000 square feet of office space and a 648‑space parking garage.
5. How did the motel housing program help local residents?
A county grant enabled temporary motel stays at two local motels for about 130 people, with services that included two‑month stays, extra time for families, and assistance covering move‑in costs such as first and last month’s rent and security deposits to help participants secure permanent housing.
6. Are other projects underway nearby?
Yes. A high‑end hospitality‑oriented residential project in West Palm Beach closed a $285 million construction loan and has broken ground, and other proposals for the Marina Village area have been floated by outside developers seeking hotel, condo and mixed‑use opportunities.
{
“@context”: “https://schema.org”,
“@type”: “FAQPage”,
“mainEntity”: [
{
“@type”: “Question”,
“name”: “What is the Residences at Marina Village?”,
“acceptedAnswer”: {
“@type”: “Answer”,
“text”: “The Residences at Marina Village is a planned eight‑story, 149‑unit apartment complex on 2.4 acres at 57 East 12th Street in Riviera Beach designed for households earning between 30 and 110 percent of Palm Beach County’s AMI.”
}
},
{
“@type”: “Question”,
“name”: “How much construction financing was secured and from whom?”,
“acceptedAnswer”: {
“@type”: “Answer”,
“text”: “The project closed on a total of $100.3 million. Major components documented in records include $54 million from the Florida Housing Finance Corporation and Bank of New York Mellon combined, $38.6 million from M&T Bank, $4.7 million from Palm Beach County, $1.5 million from the Riviera Beach CRA and $1.5 million from a private investor entity associated with the lead developer.”
}
},
{
“@type”: “Question”,
“name”: “Where does Residences at Marina Village sit within the larger Marina Village site?”,
“acceptedAnswer”: {
“@type”: “Answer”,
“text”: “The Residences parcel is part of a roughly 90‑acre redevelopment area north of the Port of Palm Beach and opposite Peanut Island. Adjacent to the Residences site is a proposed larger project known as the Gallery at Marina Village.”
}
},
{
“@type”: “Question”,
“name”: “What is the Gallery at Marina Village?”,
“acceptedAnswer”: {
“@type”: “Answer”,
“text”: “The Gallery at Marina Village is a proposed 20‑story building on 2.5 acres at 1300 Broadway with 418 units, 3,000 square feet of retail, 3,000 square feet of office space and a 648‑space parking garage.”
}
},
{
“@type”: “Question”,
“name”: “How did the motel housing program help local residents?”,
“acceptedAnswer”: {
“@type”: “Answer”,
“text”: “A county grant enabled temporary motel stays at two local motels for about 130 people, with services that included two‑month stays, extra time for families, and assistance covering move‑in costs such as first and last month’s rent and security deposits to help participants secure permanent housing.”
}
},
{
“@type”: “Question”,
“name”: “Are other projects underway nearby?”,
“acceptedAnswer”: {
“@type”: “Answer”,
“text”: “Yes. A high‑end hospitality‑oriented residential project in West Palm Beach closed a $285 million construction loan and has broken ground, and other proposals for the Marina Village area have been floated by outside developers seeking hotel, condo and mixed‑use opportunities.”
}
}
]
}
Project comparison: key features
| Project | Location / Acreage | Height / Units | Primary financing or lender | Notable features |
|---|---|---|---|---|
| Residences at Marina Village | 57 East 12th Street / 2.4 acres | 8 stories / 149 units | Combined package totaling $100.3M (includes Florida Housing Finance Corp. & Bank of New York Mellon $54M; M&T Bank $38.6M; Palm Beach County $4.7M; Riviera Beach CRA $1.5M; private investor $1.5M) | Workforce housing serving 30–110% AMI; part of 90‑acre Marina Village redevelopment |
| Gallery at Marina Village | 1300 Broadway / 2.5 acres | 20 stories / 418 units | Development partners; financing pending | 3,000 sq ft retail, 3,000 sq ft office, 648‑space parking garage; adjacent parcel |
| Proposed hotel concept | Marina Village area (conceptual) | 8 stories / ~150 rooms (hotel) plus additional planned elements | Prospective developer proposals | Concepts include condos, restaurants, another 150‑key hotel and a 900‑space garage |
| Mr. C Hotel & Residences (West Palm Beach) | 327 Okeechobee Blvd. / city parcel | Luxury residences 146 units + 110 hotel suites | $285M construction loan from private capital lender | Hospitality component, spa, fitness and curated amenities; under construction |
Deeper Dive: News & Info About This Topic
Additional Resources
- The Real Deal: Related lands $100M financing for Riviera Beach apartments
- Wikipedia: Residences at Marina Village Related Group Riviera Beach financing
- ConnectCRE: Related obtains $92.6M loan for Riviera Beach apartments
- Google Search: Residences at Marina Village construction loan
- WPTV: County-funded program secures homes for 100 in Riviera Beach facing homelessness
- Google Scholar: Riviera Beach homelessness motel program Palm Beach County
- Multi-Housing News: Terra JV breaks ground on mixed-use development in West Palm Beach
- Encyclopedia Britannica: West Palm Beach mixed-use development Terra JV
- The New York Times: Palm Beach billionaires battle for oceanfront land
- Google News: Palm Beach oceanfront land billionaires battle
Author: Construction TX News
TEXAS STAFF WRITER The TEXAS STAFF WRITER represents the experienced team at constructiontxnews.com, your go-to source for actionable local news and information in Texas and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the Texas Construction Expo, major infrastructure unveilings, and advancements in construction technology showcases. Our coverage extends to key organizations like the Associated General Contractors of Texas and the Texas Building Branch, plus leading businesses in construction and real estate that power the local economy such as Austin Commercial and CMiC Global. As part of the broader network, including constructioncanews.com, constructionnynews.com, and constructionflnews.com, we provide comprehensive, credible insights into the dynamic construction landscape across multiple states.
