Pérez Family Secures $100M Financing for Riviera Beach Workforce Housing Project
Related Group lands $100.3 million in construction financing from various entities for Residences at Marina Village in Riviera Beach.
The Pérez family's real estate development company, Related Group, has successfully secured $100.3 million in construction financing for their new project, Residences at Marina Village, located in Riviera Beach.
According to records, the financing was obtained from several sources, including the Florida Finance Housing Corporation, the Bank of New York Mellon, Riviera Beach Community Redevelopment Agency (CRA), Palm Beach County, M&T Bank, and RUDG Investor LLC. Jorge Pérez, the founder and chairman of Related Group, also provided $1.5 million in financing through his Florida entity.
The Residences at Marina Village will be built on a 2.4-acre site at 57 East 12th Street and is part of the larger development plan for Riviera Beach.
In a statement, Jorge Pérez said, "We are excited to bring this much-needed workforce housing project to Riviera Beach and provide affordable housing options for the community."
The project has faced some opposition from local residents and officials, with concerns raised about the impact on the surrounding neighborhood. However, with the financing now secured, construction is expected to move forward.
Originally reported by The Real Deal.
https://therealdeal.com/miami/2025/09/25/related-lands-100m-financing-for-riviera-beach-apartments/