Riviera Beach considers $35M hotel with mixed use at marina

A hotel project with mixed uses could be added to the Riviera Beach Marina redevelopment project.

Viking Developers will go before the Riviera Beach Community Redevelopment Agency (CRA) on Sept. 23 seeking design approval and partial public ownership for its $35 million project. The marina is already in the midst of a $375 million redevelopment that will include shops, restaurants, a boardwalk promenade and boat slips. The city is trying to raise funds for a 50,000-square-foot market for local produce and wares.

The potential new addition would be a six-story building with 37,600 square feet of commercial space, 66 hotel rooms and 751 parking spaces. The developer asked the CRA to secure financing to support the $15 million parking deck and place ownership in public hands, since the parking would serve the entire site. Viking Developers estimated the $282,000 in tax increment revenue generated annually for the CRA from the privately-owned portion of the site would be enough to support debt payments on the parking deck.

The building would include 66 hotel rooms, 21,200 square feet of retail space, 750 square feet of office space and a fitness center. It would also have a 5,000-square-foot restaurant, a sky bar and a pool on the top floor.

Riviera Beach is a working class city north of West Palm Beach. It’s counting on the marina redevelopment to boost tourism and job creation.

A hotel, retail and restaurant building with a parking deck is proposed at the Riviera Beach Marina.

***** *****
Story by: Brian Bandell | Sep 22, 2015, 3:04pm EDT
Photo Courtesy: Biz Journals

Link to original story