Great Blue

Project Objective

Great Blue represents the next phase of Rich Global’s commitment to high-impact, large-scale senior housing developments, building upon the success of Waterview Apartments. This $60 million development will bring 140 high-quality, affordable senior and disabled adult housing units to Riviera Beach, Florida.

A critical challenge of this project was that the site was originally landlocked, requiring a strategic land acquisition and the creation of an access easement to secure proper ingress and egress. Rich Global’s ability to navigate complex real estate barriers has positioned Great Blue as a premier, much-needed housing solution in an area with increasing demand.

Project Details

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Project Solution

Rich Global, in partnership with Sun Foundation, Inc. (a federally designated 501(c)(3) nonprofit organization), is developing Great Blue to provide a quality-oriented, sustainable, and affordable residential community for seniors and disabled adults.

Site Acquisition & Access Resolution: The original parcel, totaling 1.95 acres, was landlocked. Rich Global strategically acquired the adjacent property and executed an access easement, ensuring a functional and accessible development site.
Land Leasing Structure: Great Blue LLLP has executed a long-term land lease to develop Blue Heron Apartments, optimizing capital deployment while securing long-term operational control.
Premier Location & Accessibility: Positioned east of I-95 in Riviera Beach, Great Blue offers convenient access to transportation and essential services. Ingress and egress have been optimized through both commercial properties to the south and 23rd Street, providing direct access to the traffic light at Blue Heron Blvd.
Affordable Housing Program Structure:
- 40% of the residences will be supported by Project-Based Vouchers, serving residents at or below 30% of the Area Median Income (AMI).
- 60% of the residences will be reserved for low-income residents earning up to 80% of AMI.
Sustainability & Resilience: The project meets all Florida Housing Finance Corporation (FHFC) Enhanced Structural Systems (ESS) Construction requirements and will comply with the Florida Green Building Coalition’s Green High-Rise Residential Standard.

Development Plan & Design

Six-Story Concrete Building: Five residential levels above ground-level resident parking.
140 spacious one-bedroom residences (650 sq. ft. each), featuring:
- Full kitchens with Energy Star appliances.
- Independent HVAC controls for comfort and efficiency.
- Durable materials, including granite countertops and plywood cabinets, ensuring lower operating costs and long-term resilience.
Community Amenities & Resident Well-Being:
- A large, shared upstairs balcony courtyard to encourage socialization and outdoor recreation.
- Comprehensive supportive services areas tailored to senior residents.
- Pedestrian-friendly site enhancements, including landscaped walkways and gathering spaces.

Project Results

Strategic Land Unlocking: Rich Global’s expertise in land acquisition and zoning optimization resolved a major barrier, transforming an inaccessible site into a high-value development opportunity.
Municipal Approvals & Zoning Compliance: The project aligns with Florida’s Live Local Statutes, allowing for the approval of affordable rental housing on commercially zoned land.
Long-Term Housing Stability:
- Supports low-income seniors and disabled adults, offering affordable, high-quality housing in a growing area.
- Provides a sustainable investment opportunity, backed by government-supported rental programs.
Projected Timeline:
- Groundbreaking: Estimated Q1–Q2 2026.
- Completion: Expected within 24 months of breaking ground.

Long-Term Strategy & Exit Plan

Great Blue reinforces Rich Global’s leadership in large-scale, mission-driven real estate development, providing a stable, high-impact asset with strong long-term value. Key strategic advantages include:

Public-Private Collaboration, leveraging tax incentives and affordable housing programs.
Long-term land leasing model, optimizing cost efficiency and capital deployment.
Continued demand for senior housing, ensuring high occupancy and operational stability.
Scalable, replicable model that aligns with Rich Global’s future development plans.

Great Blue is a transformational project that builds on Rich Global’s expertise in solving complex real estate challenges. By unlocking a previously inaccessible site, securing public-private partnerships, and delivering high-quality, affordable senior housing, this development will serve as a benchmark for sustainable, high-impact investments in the region. As Rich Global continues to lead high-value real estate initiatives, Great Blue represents a strategic blend of innovation, community impact, and long-term financial success.

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