The Riviera Beach Community Redevelopment Agency will negotiate the sale of 2.2 acres near the waterfront to Peter Baytarian’s Forest Development to build a mixed-use project.
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Riviera Beach council members, sitting as the city’s CRA’s board of commissioners, approved the deal with North Palm Beach-based Forest Development by a vote of 3 to 2 Wednesday evening, after hearing proposals from five development teams. Council Chairperson Shirley Lanier and Vice Chair KaShamba Miller-Anderson cast the dissenting votes.
Wayne Richards, Forest Development’s attorney, told council members that Baytarian was eager to build a $325 million project at 1851 Broadway with 350 to 450 apartments, including 20 as workforce housing. The project would also include 17,000 square feet of retail and would break ground within 18 months of site plan approval.
“When I asked him about timing, he said ‘full speed ahead.’ He wants to hit this market while it’s hot,” Richards said.
Baytarian told council members he was also willing to increase his current bid of $3.78 million to acquire land owned by the city and the CRA.
Should Baytarian move forward, this would be his third project along the Broadway/U.S. 1 corridor. Richards said Forest Development is just days away from getting a certificate of occupancy for a pair of 24-story condo towers called Nautilus 220 in neighboring Lake Park, and months away from “significant movement” at Oculina, a planned 25-story dual condo tower project at 3700 Broadway.
Baytarian’s Forest Development made an unsolicited offer to acquire the 2.2-acre Riviera Beach parcel more than two years ago. In response, the city put out a request for proposals from other developers interested in acquiring the property at 1851 Broadway for development.
Forest Development’s proposal received the highest score from a selection committee of city administrators, despite having the lowest cash bid. That’s because purchase price counted for just 15 percent of the selection committee’s total scoring, while categories dealing with the project’s design, community benefit package, and developer reputation each carried 20 percent, a CRA document explained.
According to LaTonya Ammons, Riviera Beach’s director of purchasing, if talks with Forest Development fall apart, the city could negotiate with the second-place contender, Washington, D.C.-based Frontier Development & Hospitality Group and Deerfield Beach-based Gedeon Financial. Frontier and Gedeon proposed building 12,500 square feet of retail and 300 apartments with 75 percent of units reserved for workforce housing. Their bid included paying $4 million for the land. Woody Victor, senior vice president of Frontier Development, told council members his team was considering using the state’s Live Local Act to gain extra density and, possibly, property tax abatements.
Third-place contender, West Palm Beach-based Kenco Communities, had the highest cash bid of more than $4.55 million. It proposed building an eight-story building with 219 residential units, with up to 22 units for workforce housing.
Coming in fourth place was New York-based Coltown Properties, which proposed a project with 450 apartments. Its initial bid offered $4 million to the city, plus another $400,000 for the CRA for community enhancements. However, founding principal Steven Neuman told council members that Coltown was willing to pay at least $100,000 more than the highest bidder.
The last ranked contender was Palm Beach Gardens-based Elysium Land Development, headed by Eliott Johnson. Rather than buy the land, Johnson proposed forming a partnership with the city and other organizations to build a “community incubator” that would include 106 affordable housing units.
Council members initially planned to hear presentations from just the top three ranked proposals. However, by a vote of 4 to 1 (councilman Glen Spirits dissenting) opted to hear all five proposals, partly because CRA Executive Director Gedel Merzius admitted he made a mistake when he told council members that Forest Development was the highest bidder during the CRA’s Oct. 22 meeting.Riviera Beach officials have sought to attract development to expand their city’s tax base to pay for infrastructure improvements such as a $400 million reconstruction of the city’s defunct water plant. According to an analysis by The Real Deal, nearly 2,000 condos and apartments are in Riviera Beach’s residential development pipeline.
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var(–wp–preset–gradient–midnight) !important;}.has-small-font-size{font-size: var(–wp–preset–font-size–small) !important;}.has-medium-font-size{font-size: var(–wp–preset–font-size–medium) !important;}.has-large-font-size{font-size: var(–wp–preset–font-size–large) !important;}.has-x-large-font-size{font-size: var(–wp–preset–font-size–x-large) !important;}”,”type”:”list”,”__typename”:”StyleItem”}],”post”:{“id”:”cG9zdDoxMDAwNjEx”,”databaseId”:1000611,”title”:”Forest Development wins bid to build $325M project near Riviera Beach’s waterfront”,”status”:”publish”,”slug”:”forest-development-wins-right-to-build-in-riviera-beach”,”uri”:”/miami/2025/11/14/forest-development-wins-right-to-build-in-riviera-beach/”,”link”:”https://therealdeal.com/miami/2025/11/14/forest-development-wins-right-to-build-in-riviera-beach/”,”dateGmt”:”2025-11-14T14:30:00″,”contentTypeName”:”post”,”contentFiltered”:”u003cpu003eThe Riviera Beach Community Redevelopment Agency will negotiate the sale of 2.2 acres near the waterfront to Peter Baytarian’s Forest Development to build a mixed-use project.u003c/pu003enu003cpu003eRiviera Beach council members, sitting as the city’s CRA’s board of commissioners, approved the deal with North Palm Beach-based Forest Development by a vote of 3 to 2 Wednesday evening, after hearing proposals from five development teams. Council Chairperson Shirley Lanier and Vice Chair KaShamba Miller-Anderson cast the dissenting votes.u0026nbsp;u0026nbsp;u003c/pu003enu003cpu003eWayne Richards, Forest Development’s attorney, told council members that Baytarian was eager to build a $325 million project at 1851 Broadway with 350 to 450 apartments, including 20 as workforce housing. The project would also include 17,000 square feet of retail and would break ground within 18 months of site plan approval.u003c/pu003enu003cpu003e“When I asked him about timing, he said ‘full speed ahead.’ He wants to hit this market while itu0026#8217;s hot,” Richards said.u003c/pu003enu003cpu003eBaytarian told council members he was also willing to increase his current bid of $3.78 million to acquire land owned by the city and the CRA.u003c/pu003enu003cpu003eShould Baytarian move forward, this would be his third project along the Broadway/U.S. 1 corridor. Richards said Forest Development is just days away from getting a certificate of occupancy for a pair of 24-story condo towers calledu003ca href=”/miami/2022/07/01/forest-development-royal-palm-nab-269m-condo-construction-loan/”u003e Nautilus 220u003c/au003e in neighboring Lake Park, and months away from “significant movement” atu003ca href=”/miami/2025/05/08/riviera-beach-approves-25-story-waterfront-condo-towers/”u003e Oculinau003c/au003e, a planned 25-story dual condo tower project at 3700 Broadway.u0026nbsp;u0026nbsp;u003c/pu003enu003cpu003eBaytarian’s Forest Development made an unsolicited offer to acquire the 2.2-acre Riviera Beach parcel more than two years ago. In response, the city put out a request for proposalsu003ca href=”/miami/2025/05/16/riviera-beach-extends-deadline-for-bids-to-buy-public-land/”u003e from other developersu003c/au003e interested in acquiring the property at 1851 Broadway for development.u003c/pu003enu003cpu003eForest Development’s proposal received the highest score from a selection committee of city administrators, despite having the lowest cash bid. That’s because purchase price counted for just 15 percent of the selection committee’s total scoring, while categories dealing with the project’s design, community benefit package, and developer reputation each carried 20 percent, a CRA document explained.u0026nbsp;u0026nbsp;u003c/pu003enu003cpu003eAccording to LaTonya Ammons, Riviera Beach’s director of purchasing, if talks with Forest Development fall apart, the city could negotiate with the second-place contender, Washington, D.C.-based Frontier Development u0026amp; Hospitality Group and Deerfield Beach-based Gedeon Financial. Frontier and Gedeon proposed building 12,500 square feet of retail and 300 apartments with 75 percent of units reserved for workforce housing. Their bid included paying $4 million for the land. Woody Victor, senior vice president of Frontier Development, told council members his team was considering using the state’s Live Local Act to gain extra density and, possibly, property tax abatements.u003c/pu003enu003cpu003eThird-place contender, West Palm Beach-basedu0026nbsp; Kenco Communities, had the highest cash bid of more than $4.55 million. It proposed building an eight-story building with 219 residential units, with up to 22 units for workforce housing.u003c/pu003enu003cpu003eComing in fourth place was New York-based Coltown Properties, which proposed a project with 450 apartments. Its initial bid offered $4 million to the city, plus another $400,000 for the CRA for community enhancements. However, founding principal Steven Neuman told council members that Coltown was willing to pay at least $100,000 more than the highest bidder.u003c/pu003enu003cpu003eThe last ranked contender was Palm Beach Gardens-based Elysium Land Development, headed by Eliott Johnson. Rather than buy the land, Johnson proposed forming a partnership with the city and other organizations to build a “community incubator” that would include 106 affordable housing units.u003c/pu003enu003cpu003eCouncil members initially planned to hear presentations from justu003ca href=”/miami/2025/10/24/developers-compete-to-buy-riviera-beach-land/”u003e the top three ranked proposalsu003c/au003e. However, by a vote of 4 to 1 (councilman Glen Spirits dissenting) opted to hear all five proposals, partly because CRA Executive Director Gedel Merzius admitted he made a mistake when he told council members that Forest Development was the highest bidder during the CRA’s Oct. 22 meeting.Riviera Beach officials have sought to attract development to expand their city’s tax base to pay for infrastructure improvements such as a $400 million reconstruction of the city’s defunct water plant. According to an analysis by u003cemu003eThe Real Dealu003c/emu003e, nearly 2,000 condos and apartments are inu003ca href=”/miami/2025/11/06/here-is-riviera-beachs-residential-development-pipeline/”u003e Riviera Beach’s residential development pipelineu003c/au003e.u003c/pu003en”,”noAds”:false,”alternativeHeadline”:{“subheadline”:”Firm led by Peter Baytarian beat out four other contenders to acquire and redevelop public land”,”__typename”:”AlternativeHeadline”},”updatedPost”:{“updated”:false,”date”:”2025-11-14T14:36:00+00:00″,”__typename”:”UpdatedPost”},”aiSummary”:{“summary”:”u003cpu003eu003c!– wp:list –u003eu003c/pu003ernu003cul class=”wp-block-list”u003eu003c!– wp:list-item –u003ernu003cliu003eThe Riviera Beach Community Redevelopment Agency voted 3 to 2 to negotiate the sale of a 2.2-acre parcel near the waterfront to Forest Development, led by Peter Baytarian, for a proposed $325 million mixed-use project.u003c/liu003ernu003c!– /wp:list-item –u003ernrnu003c!– wp:list-item –u003ernu003cliu003eForest Development’s proposal includes 350 to 450 apartments (with 20 reserved for workforce housing) and 17,000 square feet of retail space, with Baytarian offering an initial bid of $3.78 million for the land and committing to increase the bid and provide community benefits.u003c/liu003ernu003c!– /wp:list-item –u003ernrnu003c!– wp:list-item –u003ernu003cliu003eThe company’s proposal was selected despite having the lowest cash bid, as the purchase price accounted for only 15 percent of the scoring, with criteria like project design, community benefit package and developer reputation carrying more weight.u003c/liu003ernu003c!– /wp:list-item –u003eu003c/ulu003ernu003cpu003eu003c!– /wp:list –u003eu003c/pu003e”,”reviewed”:false,”disabled”:false,”autoGenerate”:false,”__typename”:”AISummary”},”audioArticleSettings”:{“audioUrl”:”https://eleven-public-cdn.elevenlabs.io/audio-native/a24c95b71e45d877e2798ceb32ef0ff8b1d79dced18bffc58f5b3a0c6e8468ac/BVxQcPKx5uxvqujk23xH/BVxQcPKx5uxvqujk23xH.mp3″,”__typename”:”AudioArticleSettings”},”mainArt”:{“mediaType”:”image”,”image”:{“node”:{“sourceUrl”:”/wp-content/uploads/2025/11/MIA_Riviera-Beach-1400×933.jpg”,”srcSet”:”/wp-content/uploads/2025/11/MIA_Riviera-Beach-1400×933.jpg 1400w, /wp-content/uploads/2025/11/MIA_Riviera-Beach-300×200.jpg 300w, /wp-content/uploads/2025/11/MIA_Riviera-Beach-700×467.jpg 700w, /wp-content/uploads/2025/11/MIA_Riviera-Beach-200×133.jpg 200w, /wp-content/uploads/2025/11/MIA_Riviera-Beach-768×512.jpg 768w, /wp-content/uploads/2025/11/MIA_Riviera-Beach-1024×683.jpg 1024w, /wp-content/uploads/2025/11/MIA_Riviera-Beach-50×33.jpg 50w, /wp-content/uploads/2025/11/MIA_Riviera-Beach.jpg 1500w”,”sizes”:”(max-width: 1400px) 100vw, 1400px”,”caption”:”u003cpu003eForest Developmentu0026#8217;s Peter Baytarian with a rendering of the $325M mixed-used project near Riviera Bu0026#8230;u003c/pu003en”,”altText”:”Forest Development’s Peter Baytarian with a rendering of the $325M mixed-used project near Riviera Beach’s waterfront”,”__typename”:”MediaItem”},”__typename”:”AcfMediaItemConnectionEdge”},”video”:null,”caption”:”Forest Development’s Peter Baytarian with a rendering of the $325M mixed-used project near Riviera Beach’s waterfront (Getty, Forest Development)”,”__typename”:”MainArt”},”featuredImage”:{“node”:{“sourceUrl”:”https://static.therealdeal.com/wp-content/uploads/2025/11/MIA_Riviera-Beach-1400×933.jpg”,”srcSet”:”https://static.therealdeal.com/wp-content/uploads/2025/11/MIA_Riviera-Beach-1400×933.jpg 1400w, https://static.therealdeal.com/wp-content/uploads/2025/11/MIA_Riviera-Beach-300×200.jpg 300w, https://static.therealdeal.com/wp-content/uploads/2025/11/MIA_Riviera-Beach-700×467.jpg 700w, https://static.therealdeal.com/wp-content/uploads/2025/11/MIA_Riviera-Beach-200×133.jpg 200w, https://static.therealdeal.com/wp-content/uploads/2025/11/MIA_Riviera-Beach-768×512.jpg 768w, https://static.therealdeal.com/wp-content/uploads/2025/11/MIA_Riviera-Beach-1024×683.jpg 1024w, https://static.therealdeal.com/wp-content/uploads/2025/11/MIA_Riviera-Beach-50×33.jpg 50w, https://static.therealdeal.com/wp-content/uploads/2025/11/MIA_Riviera-Beach.jpg 1500w”,”sizes”:”(max-width: 1400px) 100vw, 1400px”,”caption”:”u003cpu003eForest Developmentu0026#8217;s Peter Baytarian with a rendering of the $325M mixed-used project near Riviera Bu0026#8230;u003c/pu003en”,”altText”:”Forest Development’s Peter Baytarian with a rendering of the $325M mixed-used project near Riviera Beach’s waterfront”,”mediaDetails”:{“sizes”:[{“width”:”1400″,”height”:”933″,”__typename”:”MediaSize”}],”__typename”:”MediaDetails”},”__typename”:”MediaItem”},”__typename”:”NodeWithFeaturedImageToMediaItemConnectionEdge”},”__typename”:”Post”,”template”:{“templateValue”:”right-rail”,”__typename”:”DefaultTemplate”},”seo”:{“title”:”Forest Development Wins Right to Build in Riviera Beach”,”fullHead”:”u003c!– This site is optimized with the Yoast SEO Premium plugin v26.0 (Yoast SEO v26.1.1) – https://yoast.com/wordpress/plugins/seo/ –u003enu003cmeta name=”description” content=”Peter Baytarian’s Forest Development beat four other teams who sought to acquire public land near the waterfront in Riviera Beach.” /u003enu003cmeta name=”robots” content=”index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1″ /u003enu003clink rel=”canonical” href=”https://therealdeal.com/miami/2025/11/14/forest-development-wins-right-to-build-in-riviera-beach/” /u003enu003cmeta property=”og:locale” content=”en_US” /u003enu003cmeta property=”og:type” content=”article” /u003enu003cmeta property=”og:title” content=”Forest Development wins bid to build $325M project near Riviera Beach’s waterfront” /u003enu003cmeta property=”og:description” content=”Peter Baytarian’s Forest Development beat four other teams who sought to acquire public land near the waterfront in Riviera Beach.” /u003enu003cmeta property=”og:url” content=”https://therealdeal.com/miami/2025/11/14/forest-development-wins-right-to-build-in-riviera-beach/” /u003enu003cmeta property=”og:site_name” content=”The Real Deal” /u003enu003cmeta property=”article:publisher” content=”https://www.facebook.com/therealdealmedia/” /u003enu003cmeta property=”article:published_time” content=”2025-11-14T14:30:00+00:00″ /u003enu003cmeta property=”og:image” content=”https://static.therealdeal.com/wp-content/uploads/2025/11/MIA_Riviera-Beach.jpg” /u003entu003cmeta property=”og:image:width” content=”1500″ /u003entu003cmeta property=”og:image:height” content=”1000″ /u003entu003cmeta property=”og:image:type” content=”image/jpeg” /u003enu003cmeta name=”author” content=”Eric Bojnansky” /u003enu003cmeta name=”twitter:card” content=”summary_large_image” /u003enu003cmeta name=”twitter:description” content=”The Riviera Beach Community Redevelopment Agency will negotiate the sale of 2.2 acres near the waterfront to Peter Baytarian’s Forest Development to build a mixed-use project. Riviera Beach council members, sitting as the city’s CRA’s board of commissioners, approved the deal with North Palm Beach-based Forest Development by a vote of 3 to 2 Wednesday evening, after hearing proposals from five development teams. Council Chairperson Shirley Lanier and Vice Chair KaShamba Miller-Anderson cast the dissenting votes.u0026nbsp;u0026nbsp; Wayne Richards, Forest Development’s attorney, told council members that Baytarian was eager to build a $325 million project at 1851 Broadway with 350 to [u0026hellip;]” /u003enu003cmeta name=”twitter:creator” content=”@trdny” /u003enu003cmeta name=”twitter:site” content=”@trdny” /u003enu003cmeta name=”twitter:label1″ content=”Written by” /u003entu003cmeta name=”twitter:data1″ content=”Steven Dilakian” /u003entu003cmeta name=”twitter:label2″ content=”Est. reading time” /u003entu003cmeta name=”twitter:data2″ content=”4 minutes” /u003enu003cscript type=”application/ld+json” 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Forest Development Wins Right: What to Plan Before You Start
FAQ: Forest Development Wins Right
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