Related Group secures $100.3M loan for Residences at Marina Village

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 $100.3 million to build Residences at Marina Village in Riviera Beach

Developers have assembled financing to start construction on a new workforce housing project in Riviera Beach. The Miami-based developer has secured $100.3 million in construction loans and public funding for the planned Residences at Marina Village, an eight-story, 149-unit apartment building set on a 2.4-acre parcel at 57 East 12th Street.

Key financing and project highlights

The financing package combines public and private sources. Major contributions include $54 million from a state housing finance entity and a major custody bank, $38.6 million from a regional bank, and smaller public and private commitments totaling the full reported amount. Local redevelopment agency and county dollars are part of the deal, along with a six-figure capital injection from an entity tied to the project principals. The combined total of the listed sources equals the reported $100.3 million.

What the project will deliver

The plan calls for a new eight-story building with 149 apartments aimed at households earning between 30 percent and 110 percent of Palm Beach County’s area median income, which was reported as $104,000 in 2024. The site is part of a larger 90-acre redevelopment effort known as Marina Village, located north of the Port of Palm Beach and across the water from Peanut Island.

Partners and nearby development activity

The project pairs the developer with a local firm led by former redevelopment staff and other private partners. That team is already tied to a larger, adjacent proposal called Gallery at Marina Village. The Gallery proposal envisions a 20-story, 418-unit building on 2.5 acres at 1300 Broadway with retail and office space and a large parking garage. The partners on the Gallery project include the same development firm and additional regional developers.

Approvals and next steps

City officials approved the eight-story Residences plan in June. Local redevelopment officials have since moved forward with additional procurement steps for the broader Marina Village area after the first solicitation returned a single responsive proposer. Other developers have indicated interest in the site with alternative concepts, including hotel-focused mixed-use plans that would add units, hospitality rooms and significant parking capacity under separate proposals.

Local housing context and temporary shelter efforts

The financing news comes as the county and local partners continue short-term housing efforts to move people out of homelessness. A recent county-funded motel program placed more than 100 people in temporary motel rooms while caseworkers helped them obtain permanent housing, covering short-term stays and support costs such as first and last month rent and security deposits. Several participants transitioned from motel stays into stable housing, and program leaders described the effort as allowing people to focus on health and recovery needs while moving toward permanent placements.

Other regional projects and lending activity

The area’s development pipeline also includes a luxury hospitality-residence project in West Palm Beach that closed on a large construction loan and recently broke ground. That project is designed to combine apartment homes with a hotel component, high-end amenities and hospitality services. Lenders, designers and brokers involved in that deal highlight continued investor appetite for mixed-use residential and hotel developments in South Florida.

Why this matters

The planned Residences at Marina Village adds workforce housing supply in a coastal market where affordability is a concern. The mix of public and private financing illustrates how local governments and developers are pairing resources to deliver homes targeted to a range of incomes. The proximity of the Residences to the larger Gallery proposal and other potential developments could reshape a key waterfront corridor if multiple projects move forward.

{
“@context”: “https://schema.org”,
“@type”: “FAQPage”,
“mainEntity”: [
{
“@type”: “Question”,
“name”: “What is the total amount of financing for Residences at Marina Village?”,
“acceptedAnswer”: {
“@type”: “Answer”,
“text”: “The project has a reported total of $100.3 million in construction and related financing from a mix of public and private sources.”
}
},
{
“@type”: “Question”,
“name”: “Where will the Residences at Marina Village be built?”,
“acceptedAnswer”: {
“@type”: “Answer”,
“text”: “The development is planned on a 2.4-acre site at 57 East 12th Street, part of the larger Marina Village redevelopment area north of the Port of Palm Beach and across from Peanut Island.”
}
},
{
“@type”: “Question”,
“name”: “How many units and what income levels will the project serve?”,
“acceptedAnswer”: {
“@type”: “Answer”,
“text”: “The Residences will have 149 rental units targeted to households earning between 30 percent and 110 percent of the area median income for Palm Beach County.”
}
},
{
“@type”: “Question”,
“name”: “Who is partnering on the project?”,
“acceptedAnswer”: {
“@type”: “Answer”,
“text”: “The primary developer is working with a development firm led by former redevelopment staff and other partners who are also involved in adjacent Marina Village proposals.”
}
},
{
“@type”: “Question”,
“name”: “Is there related development planned nearby?”,
“acceptedAnswer”: {
“@type”: “Answer”,
“text”: “An adjacent site is proposed for a 20-story, 418-unit project with retail, office space and a large parking garage, and other parties have proposed hotel and mixed-use plans for the broader Marina Village area.”
}
},
{
“@type”: “Question”,
“name”: “What short-term housing efforts are happening locally?”,
“acceptedAnswer”: {
“@type”: “Answer”,
“text”: “County-funded motel placements recently provided temporary shelter and move-in assistance for over 100 people, covering stays and funds to help secure permanent housing, including rent and deposits.”
}
}
]
}

Key project features

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 CA News

CALIFORNIA STAFF WRITER The CALIFORNIA STAFF WRITER represents the experienced team at constructioncanews.com, your go-to source for actionable local news and information in California 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 Rose Parade, Coachella, Comic-Con, and the California State Fair. Our coverage extends to key organizations like the California Building Industry Association and Associated General Contractors of California, plus leading businesses in technology and entertainment that power the local economy such as Apple and Alphabet. As part of the broader network, including constructionnynews.com, constructiontxnews.com, and constructionflnews.com, we provide comprehensive, credible insights into the dynamic landscape across multiple states.