Riviera Beach Skyline to Transform with Landmark 25-Story Oculina Towers Project
Landmark Development Receives Unanimous Council Approval
In a significant boost to Riviera Beach's ongoing urban transformation, the City Council has unanimously approved Forest Development's ambitious Oculina project. The twin 25-story mixed-use towers will dramatically reshape the city's skyline while establishing new standards for developer contributions to community needs.
Led by developer Peter Baytarian, Forest Development secured approval on Wednesday evening through a pair of critical resolutions that greenlight the project at 3700 Broadway, the former site of a Winn-Dixie supermarket. The 3.4-acre property, which was rezoned for high-rise development last year, will soon become home to what promises to be one of the most distinctive architectural landmarks in Palm Beach County.
"This project represents a major step forward in our vision for creating vibrant, multi-functional spaces that serve diverse community needs while delivering exceptional living experiences," said a Forest Development spokesperson when reached for comment.
Project Specifications and Community Benefits
The Oculina towers, designed by the acclaimed Palm Beach Gardens-based Insite Studio, will soar up to 300 feet, creating a dramatic new vertical element in Riviera Beach's evolving urban landscape. The comprehensive development plan includes:
- 399 luxury residential units
- 17,120 square feet dedicated to restaurant venues
- 11,000 square feet of professional office space
- 9,680 square feet of retail space
- Resort-style amenities throughout the property
- Multiple dining options ranging from casual cafés to fine dining establishments
In exchange for the approved height and density allowances, Forest Development has committed to substantial community benefits. The developer will contribute $4.9 million to Riviera Beach's affordable housing fund as part of the city's Minority Employment and Affordable Housing Opportunity Program.
Beyond financial contributions, the project establishes meaningful employment opportunities for local residents. Forest Development has pledged that at least 20 percent of the construction workforce will come from minority populations, including Black, Hispanic, Asian, and Native American communities. The agreement specifically prioritizes Riviera Beach's Black and Hispanic residents for first consideration, with second preference given to those from these communities residing elsewhere in Palm Beach County.
Strategic Investment in Riviera Beach's Emerging Market
The Oculina project represents a significant financial investment in Riviera Beach's rapidly appreciating real estate market. Silver Beach Road Partners LLC, headed by Baytarian, acquired the development site for $7.3 million in December 2021, positioning the company strategically in what industry analysts increasingly view as one of South Florida's most promising growth corridors.
The location's appeal is enhanced by its proximity to waterfront amenities and existing transportation infrastructure. Notably, the site stands less than 1,600 feet from where Forest Development and Dan Kodsi's Royal Palm Companies are currently constructing Nautilus 220, another ambitious development featuring twin 24-story condominium towers at 220 Lake Shore Drive in neighboring Lake Park.
While specific timelines for sales and construction haven't been announced, a Forest Development representative indicated that detailed schedules will be "forthcoming in the next few months." Market observers anticipate strong buyer interest given the project's distinctive design elements and comprehensive amenity package.
Riviera Beach's Development Renaissance
The Oculina project emerges amid a significant surge in development interest throughout Riviera Beach. The city's strategic location, waterfront assets, and pro-development policies have attracted major investment from leading regional and national developers.
Miami-based Related Group, one of Florida's most prolific development firms, has partnered with BH Group and Tezral Partners to advance a 20-story residential tower with 418 market-rate apartments near Riviera Beach's Marina Village. Complementing this market-rate development, Related Group's affordable housing division, Related Urban, has joined forces with Tezral to create an eight-story apartment building offering 149 workforce housing units at Marina Village.
These residential projects coincide with Riviera Beach's Community Redevelopment Agency actively seeking developers to enhance the city's hospitality and dining landscape. The agency has renewed its search for partners willing to develop new restaurants and hotel facilities on publicly-owned waterfront parcels at Marina Village, potentially creating a vibrant entertainment and tourism district that would complement the residential components of projects like Oculina.
Market Implications and Economic Impact
Real estate analysts suggest that the Oculina development will likely accelerate property value appreciation throughout surrounding neighborhoods while generating significant economic benefits. The project is expected to create hundreds of construction jobs over several years, followed by permanent employment opportunities in building management, retail operations, and food service.
The $4.9 million contribution to affordable housing represents one of the largest single developer contributions to Riviera Beach's housing initiatives, potentially funding multiple smaller affordable housing projects throughout the city. This approach reflects an emerging model where luxury development directly supports affordable housing initiatives, helping address South Florida's ongoing housing affordability challenges.
Insights About Riviera Beach Development
Is the Oculina project the tallest development approved in Riviera Beach?
Yes, at 300 feet (25 stories), the Oculina towers will be among the tallest structures in Riviera Beach upon completion, dramatically altering the city's skyline and establishing a new vertical landmark visible from across the Intracoastal Waterway.
How does Forest Development's community contribution compare to other projects?
The $4.9 million contribution to affordable housing represents one of the largest single developer contributions in Riviera Beach's history, significantly exceeding typical developer community benefit packages in comparable South Florida municipalities.
What impact will this development have on local employment?
Beyond construction jobs, the completed project will create permanent positions in property management, maintenance, retail, and restaurant operations. The minority hiring program specifically prioritizes opportunities for local residents, creating an employment pipeline for Riviera Beach citizens.
How is Riviera Beach's development landscape changing?
Riviera Beach is experiencing a significant transformation from an underutilized waterfront community to an emerging luxury destination. The approval of multiple high-rise, mixed-use developments signals investor confidence in the city's long-term growth potential and changing demographic profile.
Will these luxury developments affect housing affordability in Riviera Beach?
While luxury developments like Oculina target affluent buyers, the substantial contributions to affordable housing funds provide resources for parallel development of workforce and affordable housing options, potentially creating a more economically diverse community over time.
