News Summary
Construction has started on the Residences at Marina Village in Riviera Beach, a mixed-income housing project designed to provide affordable apartments for local residents. The development includes 149 units catering to households earning between 30% and 110% of the area median income. This initiative is part of a larger redevelopment plan aimed at enhancing the waterfront area and creating community spaces, ultimately addressing the pressing housing needs in the region.
Riviera Beach, Florida – Construction has officially commenced on the Residences at Marina Village, a significant mixed-income housing project that aims to provide affordable accommodations for a diverse range of residents in Riviera Beach. The development is a collaborative effort between Related Urban and the Riviera Beach Community Redevelopment Agency.
The Residences at Marina Village will include a total of 149 mixed-income apartments, catering to households that earn between 30% and 110% of the area median income. This is aimed at providing working families with access to stable housing, thereby addressing issues related to rising rents, lengthy commutes, and the ongoing risk of families being priced out of their communities.
The project marks a pivotal step in the ambitious plans for the Riviera Beach waterfront district. It is part of a larger, master-planned redevelopment initiative designed to enhance the waterfront area, and it aims to create not only housing but also vibrant community spaces.
Financing for the project includes a $15.4 million State Apartment Incentive Loan from the Live Local program offered by Florida Housing Finance Corporations. This funding is historic as it represents the first project in Florida to receive such financial backing, emphasizing the state’s commitment to addressing housing needs.
Along with the apartment units, the eight-story building will feature a range of community amenities. These include a swimming pool, a fitness center, and structured parking to accommodate residents and visitors. Additionally, the development will have mixed-use retail space, fostering economic opportunities and convenience for residents.
Positioned to offer stunning views of the Intracoastal Waterway, the development is designed not only to provide shelter but to enhance the living experience by integrating nature and community resources into everyday life. The project underscores the importance of fostering local connections while meeting the housing demands of the community.
Albert Milo, Jr., the President of Related Urban Development Group, characterized this project as a major milestone for both Related Urban and the city of Riviera Beach. The focus is on creating a living environment that supports families and individuals looking for affordable housing options in proximity to their places of work and education.
This housing initiative is positioned as a proactive solution to the challenges faced in Riviera Beach, particularly in light of increasing rental costs that have impacted many families in the region. By providing mixed-income housing, the project strives to stabilize the community and promote economic diversity.
As the development progresses, it represents a significant effort towards building an inclusive community where residents of varying income levels can thrive together. The launch of construction for the Residences at Marina Village signals a positive shift in addressing the pressing housing needs in Riviera Beach, showcasing the power of collaboration between public agencies and private developers to create meaningful and lasting change in local communities.
Deeper Dive: News & Info About This Topic
- South Florida Agent Magazine: Residences at Marina Village
- CoStar: Developers Tout Florida’s New Affordable Housing Law
- Multifamily Dive: South Florida Development Costs
- Axios: Zohran Mamdani on Florida Real Estate
- Bisnow: Condo Associations Seek Buyouts
- Wikipedia: Affordable housing
- Google Search: Riviera Beach Florida housing
- Google Scholar: Florida housing development
- Encyclopedia Britannica: Housing
- Google News: Florida affordable housing
Author: STAFF HERE PETERSBURG WRITER
ST PETERSBURG STAFF WRITER The ST PETERSBURG STAFF WRITER represents the experienced team at HEREStPetersburg.com, your go-to source for actionable local news and information in St Petersburg, Pinellas County, 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 Grand Prix of St. Petersburg, Localtopia, and SHINE Mural Festival. Our coverage extends to key organizations like the St. Petersburg Area Chamber of Commerce and St. Pete Downtown Partnership, plus leading businesses in finance, manufacturing, and healthcare that power the local economy such as Raymond James Financial, Jabil, and Bayfront Health St. Petersburg. As part of the broader HERE network, including HEREJacksonville.com, HEREOrlando.com, HERETallahassee.com, and HERETampa.com, we provide comprehensive, credible insights into Florida's dynamic landscape.
