Related Group, BH Group, and Tezral Partners have jointly proposed an ambitious mixed-use multifamily development in Riviera Beach, marking a significant addition to the area's skyline and residential offerings. The project, located at 1300 Broadway just north of West Palm Beach, aims to redefine urban living with two striking 20-story towers comprising a total of 418 apartments.
According to preliminary plans submitted recently, the development seeks an exception for a mixed-use designation within the Inlet Harbor Center zoning district, highlighting its integration into the broader urban fabric of Riviera Beach.
About the development
Situated on a 2.5-acre parcel owned by the city's Community Redevelopment Agency, the Riviera Beach Marina Village project is set to offer not only residential spaces but also a vibrant mix of amenities and commercial spaces. The development plans include approximately 3,000 square feet dedicated to retail and another 3,000 square feet for office space. A pivotal component of the project is a spacious 648-space parking garage, ensuring convenience for residents and visitors alike.
The residential offerings are diverse, ranging from cozy studio apartments to expansive three-bedroom units, catering to a wide spectrum of lifestyles and housing needs. In addition to comfortable living spaces, residents will enjoy a variety of amenities such as a pool and a recreation deck, enhancing the community's appeal as a desirable place to live and socialize.
The project's significance extends beyond its architectural and residential components. The developers acquired the property in 2020 for approximately $2.3 million, reflecting their long-term commitment to investing in Riviera Beach's development and economic growth. Securing a 99-year ground lease from Riviera Beach's CRA last year underscored their dedication to realizing this transformative vision for the area.
The Venture's Major Contributors
This venture is not the first collaboration between Related Group, BH Group, and Tezral Partners. The trio has previously partnered on several successful projects across South Florida, demonstrating their collective expertise and synergy in real estate development.
Tezral Partners, based locally in West Palm Beach and led by Tony Brown, adds a deep understanding of the Riviera Beach community, having served previously as the executive director of the Riviera Beach CRA. This local knowledge and leadership experience enrich the project's development process, ensuring it aligns with the city's growth objectives and community needs.
What it means for the Local Market
The Riviera Beach Marina Village project also resonates within the context of broader regional developments. Related Group recently completed the Icon Marina Village condo development in neighboring West Palm Beach, demonstrating their ongoing commitment to enhancing waterfront living and urban revitalization across South Florida.
Furthermore, the inclusion of mixed-use components—such as retail and office spaces totaling 6,000 square feet—further diversifies the local economy. These commercial spaces not only enhance the project's utility by offering convenient services and employment opportunities but also contribute to a vibrant, walkable community environment. This mixed-use approach aligns with modern urban planning principles that promote live-work-play environments, fostering a dynamic and sustainable local economy.
Future Plans
Looking ahead, Related Group, BH Group, and Tezral Partners are also collaborating on an ultra-luxury condo development on Fisher Island, underscoring their capacity to undertake diverse and ambitious projects that redefine luxury living in coveted locations. Their recent milestone achievement of securing a $400 million construction loan for the Residences at Six Fisher Island further exemplifies their robust financial backing and confidence in their development strategies.
Ultimately, the proposed mixed-use multifamily development at 1300 Broadway in Riviera Beach represents a pivotal moment for urban growth and community enhancement in the region. With its striking design, comprehensive amenities, and strategic location, the project promises to elevate the local living experience while contributing to Riviera Beach's economic vitality and cultural landscape for years to come.
Posted by Larry Mastropieri on
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