Miami-based Related Group has secured funding for Residences at Marina Village, an affordable housing development in Riviera Beach. The $92.6 million in financing came from three entities: Manufacturers and Trusters Trust Co., the Florida Housing Finance Corp, and Bank of New York Mellon Corp.
Residences at Marina Village is slated to measure eight stories above grade and comprise 149 units. Residency will be reserved for tenants earning 30 to 110 percent of the area median income. Palm Beach County’s area median income (AMI) was $104,000 as of 2024.
Our sources report that this will be the first Class-A mixed-income development in Riviera Beach. Residences at Marina Village LLC (an affiliate of Related Urban Development Group) is the developer. Related, along with BH Group and Tezral Partners, controls the build site through a land lease with the City.
Residences at Marina Village isn’t the only workforce housing development unfolding in Riviera Beach. Recently, Florida YIMBY reported on Marina Annex, a 175-unit community intended for residents earning 60 to 140 percent of the AMI. The development will also feature retail space and an expansive community center.
Residences at Marina Village is planned for 57 E 12th St. West Palm Beach, FL, 33404, in Palm Beach County.
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Shelton, a Turkey-based developer with completed projects in Bodrum and Ankara, is planning its first U.S. venture in North Miami. First reported by Floridian Development, the project, called Shelton Miami, is proposed for 1998 NE 135th Street along Little Arch Creek and will rise 11 stories with 18 residential units. Designed by Kobi Karp Architects, the building will stand 121 feet tall and introduce large-format residences to the area.
On September 18, the North Miami Planning Commission reviewed the proposal and offered recommendations, with final approval still to be determined by the City Council. The development exceeds the lot’s allowable density of 8.8 units, or 25 units per acre, and requires a Conditional Use Permit to allocate nine additional units from the city’s density pool.
Residences will be luxury-oriented, averaging around 3,000 square feet. The building’s layout will provide two five-bedroom homes per floor from levels three through eleven. According to the developer, “Shelton Miami offers the ultimate in seaside living. With its private pier and boat services, it provides an experience akin to a yacht club. In a region like Miami, where supply is low and demand is high, these limited-edition residences promise an exclusive lifestyle. Shelton Miami is not just a living space but also a high-yield investment opportunity.”
Planned amenities include a private pier, swimming pool, sauna, steam room, and gym. The ground floor will accommodate 38 parking spaces through mechanical lift systems, a solution that eliminates the need for ramps and allows the second floor to house the lobby and amenity areas. Mechanical parking lift systems have become increasingly common in Miami developments seeking to maximize efficiency on constrained sites.
The exterior will be composed of white stucco, frameless glass railings, wood paneling, fluted stone accents, and expansive glazing.
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