Big things are happening in Riviera Beach real estate. The city is quickly becoming a hotspot for investors and developers focused on housing that supports local workers and families. With a prime waterfront location and proximity to downtown West Palm Beach, it's no surprise that demand for housing in the area is growing.
As property values climb across South Florida, the need for affordable development in Riviera Beach is front and center. The city is actively working to ensure residents of all income levels have access to safe, modern housing near job centers and transportation.
Details of the Marina Village Affordable Housing Project
The new development is located at 57 E. 12th Street and sits on land leased from the city. The project is part of the city’s Marina Village redevelopment area, a 90-acre waterfront site that includes a marina, event center, and public amenities.
This project Residences at Marina Village will bring 149 affordable and workforce housing units to the community across eight stories. It’s being developed by Related Urban, the affordable housing arm of The Related Group, in partnership with Tezral Partners.
Project Financing Breakdown
This major affordable development in Riviera Beach was made possible through a mix of public and private financing totaling $92.6 million:
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$38.6 million leasehold mortgage from Manufacturers and Trusters Trust Co.
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$38.6 million tax-exempt bond issued by the Florida Housing Finance Corp., managed by Bank of New York Mellon
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$15.4 million State Apartment Incentive Loan (SAIL) from the Florida Housing Finance Corporation
Construction Timeline and Developer Team
Construction is expected to take 22 months, and the work will be handled by Related Group’s in-house general contractor. With financing secured, development is moving forward quickly.
What Is Marina Village and Why Is It Important?
Marina Village is a large-scale, city-owned redevelopment project in Riviera Beach. The goal? Transform a major stretch of the waterfront into a livable, walkable, mixed-use district with homes, jobs, recreation, and entertainment.
Existing Features:
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140-slip marina with boat dockage
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Riviera Beach Event Center
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Rafiki Tiki Bar & Grill
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Public walkways and access to the Intracoastal
This affordable housing project is part of Phase I, which focuses on housing and infrastructure.
Future Phases: What’s Coming Next to Marina Village?
The Gallery at Marina Village
Right across the street from the affordable units, another project is coming soon: The Gallery at Marina Village. This is a 20-story, market-rate apartment tower developed by Related Group, BH Group, and Tezral Partners. It will include:
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418 luxury apartments
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6,300 sq. ft. of ground-floor retail and office space
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Modern amenities geared toward professionals
Phase II Plans for 2026 and Beyond
Riviera Beach has officially opened Phase II of the Marina Village redevelopment, calling for proposals to develop waterfront restaurants, entertainment venues, hotels, and office buildings. Interested parties must submit their proposals by November 17, 2025, according to the City of Riviera Beach.
Other Nearby Projects Similar to Riviera Beach’s Affordable Development
More developers are joining the push to revitalize Riviera Beach real estate:
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Exact Capital is planning Oculina, a $150 million mixed-income high-rise development. The proposed tower will rise 25 stories, offering a blend of market-rate and affordable units. Located near the Marina Village district, this project aims to enhance the skyline and provide much-needed housing inventory.
FAQs About Affordable Development in Riviera Beach
Who Qualifies for These Units?
Apartments will be available to households earning between 30% and 110% of the Area Median Income (AMI), catering to entry-level workers, teachers, service industry employees, and young professionals.
How long will construction take on the Marina Village project?
Construction is expected to take 22 months, starting in late 2025 and extending into 2027.
Is Riviera Beach focused only on affordable housing projects?
No. The city is actively supporting both affordable and market-rate developments as part of a balanced real estate strategy to attract residents across income levels.
What is included in the Marina Village redevelopment area?
The Marina Village district features a 140-slip marina, public waterfront access, the Riviera Beach Event Center, restaurants, boat dockage, and spaces for community events.
Will affordable housing impact Riviera Beach property values?
Yes. New developments like Marina Village are expected to increase property values nearby by improving local infrastructure, boosting demand, and enhancing the neighborhood.
Partner with Local Experts on Riviera Beach Real Estate
The surge in affordable development in Riviera Beach is only part of the story. With new restaurants, high-rises, and public spaces on the way, this is a great time to explore real estate opportunities in the area.
Contact The Mastropieri Group Realtors® at (561) 544-7000 to learn more about current listings and future investments. As trusted Riviera Beach real estate agents, we’re here to help you make smart moves in a fast-changing market.
