Palm Beach County commissioners approved nearly $4.7 million on Sept. 15 to help build a new affordable housing complex in Riviera Beach.
The $48 million development called the Residences at Marina Village will be geared toward working families who earn too much to qualify for low-income housing, but still struggle with high rent.
The 149-unit apartment complex is backed in part by the county’s Housing Bond Loan Program. The $200 million bond county was approved by voters back in 2022.
As South Florida continues to navigate a growing affordability crisis, data from real estate firms show the median rent across all property types in Palm Beach County was around $2,900.
Groundbreaking is scheduled for Sept. 29th at 3 p.m. and construction is expected to be completed by late 2026.
READ MORE: $78 million workforce, affordable housing units moving forward in Lake Worth Beach
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