Three Developers Compete for $716M Riviera Beach Waterfront Redevelopment

Three development teams are competing for the rights to transform 90 acres of waterfront land in Riviera Beach, Florida, into what could become one of South Florida's largest mixed-use destinations.

The Riviera Beach Community Redevelopment Agency has received proposals from Forest Development, Sonnenblick Development, and Related Urban Development Group for the Marina Village site, a 12-acre parcel that anchors a broader 80-plus-acre city-owned corridor straddling Blue Heron Boulevard.

The Proposals

Forest Development submitted the most ambitious plan at $716 million, featuring 164 condo units, a 270-room hotel, 83,080 square feet of retail, a 10-story parking garage with 1,869 spaces, and a 326,000-square-foot convention center that would rival the Palm Beach County Convention Center in size. The firm offered $1.4 million in annual rent plus revenue sharing up to $2.7 million per year.

Sonnenblick Development proposed a $300 million first phase including 270 residential units across two buildings, a 300-room hotel complex featuring a Margaritaville-branded property, over 100,000 square feet of retail with five restaurants, an aquarium in a neighboring park, and a FlowRider wave simulator. Financial terms include escalating annual payments starting at $250,000 plus 2% of Margaritaville hotel gross income.

Related Urban Development Group, the affordable and mixed-income arm of Related Group, proposed 234 residential units (including 224 condos), a 120-room hotel, 33,800 square feet of retail, and recreational amenities including a rooftop soccer field and tennis and pickleball courts. Related offered $3.75 million upfront, 12.5% of net cash flow, and requested a 10-year property tax exemption.

Selection Status

The Riviera Beach City Council selected Sonnenblick Development in November 2025 for the right to undertake the project, estimated at approximately $481 million. However, the committee review process continues, and final terms are still being negotiated.

Waterfront Gold Rush

The competition underscores the intense developer interest in South Florida's remaining waterfront parcels. Riviera Beach sits on the Intracoastal Waterway just north of West Palm Beach, which has experienced an influx of financial services firms, hedge funds, and wealth management offices over the past several years — creating a high-income renter and buyer pool that developers are eager to serve.