The Related Group, led by the Pérez family, has secured $100.3 million in construction financing for a workforce housing development in Riviera Beach. The project, named Residences at Marina Village, is planned as part of the city’s ongoing redevelopment of the 90-acre Marina Village area.
According to public records, the financing includes $54 million from the Florida Finance Housing Corporation and the Bank of New York Mellon. Additional funding comes from a $1.5 million contribution by the Riviera Beach Community Redevelopment Agency (CRA), $4.7 million from Palm Beach County, and $38.6 million from M&T Bank. RUDG Investor LLC, registered to Jorge Pérez, also provided $1.5 million.
The Residences at Marina Village will be located on a 2.4-acre site at 57 East 12th Street. In June, city officials approved Related’s proposal for an eight-story building with 149 apartments targeted toward households earning between 30 percent and 110 percent of Palm Beach County’s area median income; in 2024 this figure was $104,000.
Miami-based Related Group is collaborating with Tezral Partners on this development. Tezral is led by Tony Brown, a former director of the Riviera Beach CRA, and Ezra Saffold. BH Group of Aventura is also partnering on another nearby project: Gallery at Marina Village—a proposed 20-story building with 418 apartments as well as retail and office space plus a parking garage—on an adjacent site.
The CRA continues to encourage new projects in the neighborhood. In July it decided to issue another bid for development after only Related responded to its initial request for proposals. Robert Sonnenblick of Sonnenblick Development announced plans for an eight-story Margaritaville hotel with 150 rooms as part of a larger mixed-use plan including condos, restaurants, another hotel with 150 rooms and a parking garage.
