Thursday’s ceremonial “champagne-popping” groundbreaking for the first phase of a $375 million mixed-used marina development project in Riviera Beach marked a new chapter for the Palm Beach County coastal city.
The 26-acre waterfront marina village project that’s set to be built over 10 years will offer a variety of shops and restaurants for lease as well as a boardwalk promenade, larger beach area and new event center that will replace the deteriorating Newcomb Hall, and other amenities.
The first phase is expected to generate about 500 construction jobs over the next three years, and will include construction of a two-story event center and ballroom, full-service restaurant, cafe and rooftop terrace. Additionally it will include a $4 million makeover to Bicentennial Park and infrastructural improvements at the marina.
“This will be an economic game-changer for the city and its residents,” Council member Judy Davis, board chair of the Riviera Beach CRA, said in a statement. “The success of the marina district and the ongoing improvements along the Broadway Corridor are literally changing the face of this city. We will attract visitors in higher numbers than ever before, and that will spark the kind of economic development that will allow this great city to reach its potential.”
In March, Riviera Beach residents agreed in a majority vote to allow the city to lease its marina properties to private interests, which launched the long-awaited agreement between Riviera Beach, its Community Redevelopment Agency and master developer Viking Developers LLC.
Viking will be responsible for securing restaurants, retailers and additional investment, according to the CRA said. Private investment into the project is expected to be more than $336 million, while the CRA will contribute $39 million.
“When we’re finished, we’ll have a dynamic waterfront for city residents that will attract visitors from around Florida and beyond,” Viking Chairman and CEO Bob Healey said of the project. “We are proud to create something that will be a legacy for future generations and will be a job generator for local residents.”
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