Community Voices
Stet NewsFive investors offered up to $4.5 million for the publicly owned property.
Five developers faced off this month for the chance to build a housing complex on public land in Riviera Beach’s urban core, a waterfront area that residential investors have long bypassed.
What happened: City Council members, acting as the Community Redevelopment Agency, selected Forest Development on Nov. 12 to build up to 450 apartments and 17,000 square feet of restaurant and retail space on about 2.2 acres at 1851 Broadway south of Blue Heron Boulevard.
Why it matters: The $325 million project’s approval is part of the city’s transformation into a boomtown. Forest pitched $3.78 million for the land but later agreed to match the highest competing bid of $4.5 million.
Context: The North Palm Beach-based developer is “days away” from completing the luxury high-rise Nautilus 220 condominiums just north of the city in Lake Park, Forest representative Wayne Richards said at the meeting.
- Forest also has approval to develop Oculina, two 25-story condominium towers south of Nautilus on Broadway in Riviera Beach.
- The developer competed with Los Angeles-based Sonnenblick this week to rebuild the area on Blue Heron Boulevard now occupied by City Hall and athletic fields.
What they’re saying: Council members Glenn Spiritis and Fercella Davis Panier questioned CRA staff about why all five developers were prepared to make presentations when the agenda called for approving the sale to Forest.
- In the end, the developer made presentations.
- The council voted 3-2 to award the contract to Forest, with Council Chairperson Shirley Lanier and Vice Chairperson KaShamba Miller-Anderson voting no.
Catch up quick: Two years ago, Forest Development made an unsolicited offer to buy the Broadway property, which once housed a Miami Subs Grill. In response, the CRA opened the bidding to others.
- In August, Forest earned the highest score in a city staff ranking of five bids.
If Riviera Beach cannot reach a deal with Forest, the city will open talks with the other applicants. In order of their ranking, they are:
- Frontier Development, based in Washington, D.C., and Gedeon Financial, based in Deerfield Beach, which proposed 300 apartments with a minimum of 225 designated as workforce housing. Also, 12,000 square feet of commercial space. Frontier offered $4 million.
- Kenco Communities, based in Boca Raton, which proposed 219 apartments, with 22 designated for workforce housing, 11,500 square feet of commercial space and 3,500 square feet of civic space. Kenco offered $4.5 million.
- Coltown Properties, based in New York, which proposed at least 450 apartments with 25% dedicated to workforce housing. Coltown offered $4 million.
- Elysium Land Development, based in Palm Beach Gardens, which proposed a four-story mixed-use development with 106 residential units and nearly 17,000 square feet of commercial space. Plus, a rooftop community garden. Elysium proposed that the city donate the land for the project.
In the weeds: The property at 1851 Broadway included the 1-acre former Miami Subs Grill, which the CRA acquired for $1.2 million in 2021, property records show. The city demolished the restaurant in 2022.
What’s next: The CRA will negotiate with Forest on the sale price. If negotiations succeed, the developer will be back to seek approval for its site plan.
Who wrote this story: This story was written by the Community Voices team of Micaja Etienne, Mikala Graham, Abigail Guillaume, Marielys Solano, Kelvin Verhovlyak and Myles Whigham.
What is CV: Community Voices is a pilot program of Stet News with Inlet Grove Middle and High School to train and pay students to cover Riviera Beach. Stet News is underwriting the pilot.
Inlet Grove journalism teacher C.B. Hanif and Stet’s Carolyn DiPaolo and Liz Capozzi contributed to this story.
Disclosure: Forest Development Managing Partner Peter Baytarian told the council that the company has made financial gifts to Inlet Grove and 12 other Riviera Beach organizations as part of its community work.
