The Related Group, led by the Pérez family, has secured $100.3 million in construction financing for its planned workforce housing development in Riviera Beach, Florida. The project, called Residences at Marina Village, will be located on a 2.4-acre site at 57 East 12th Street and is part of the city’s broader redevelopment initiative for the 90-acre Marina Village area.
According to public records, the financing package includes $54 million from the Florida Finance Housing Corporation and Bank of New York Mellon, $1.5 million from the Riviera Beach Community Redevelopment Agency (CRA), $4.7 million from Palm Beach County, and $38.6 million from M&T Bank. Additionally, RUDG Investor LLC—a Florida entity registered to Jorge Pérez—provided another $1.5 million.
The eight-story building will have 149 apartments aimed at households earning between 30 percent and 110 percent of Palm Beach County’s area median income. In 2024, that figure was reported as $104,000.
Miami-based Related is working with Tezral Partners on this project; Tezral is led by former Riviera Beach CRA director Tony Brown and Ezra Saffold. Related is also collaborating with Aventura-based BH Group on another nearby development: Gallery at Marina Village, a proposed 20-story building with 418 units as well as retail space, offices and parking facilities.
In June, city officials approved Related’s proposal for Residences at Marina Village as part of ongoing efforts to revitalize the waterfront district north of Port of Palm Beach and across from Peanut Island.
The CRA continues to encourage new investment in the area. In July it announced plans to issue an additional bid for development after only one firm responded to its previous request for proposals. Robert Sonnenblick of California-based Sonnenblick Development said he intends to propose an eight-story Margaritaville hotel with 150 rooms along with a larger plan that would include condos, restaurants, another hotel and expanded parking facilities.
Residences at Marina Village represents one piece of a larger strategy to bring more affordable housing options and mixed-use projects into Riviera Beach’s redeveloping waterfront district.
