The Rapha is a 190-acre New Urbanist waterfront master community designed by Duany Plater-Zyberk & Company — the firm behind Seaside, Watercolor, and Rosemary Beach. This is their final and most ambitious community along the coast. The property sits on Marina Island in Lynn Haven, FL, fronting North Bay. It is owned free and clear with no existing debt, and JV partners are confirmed.
The property occupies a dramatic peninsula on North Bay — surrounded by water on three sides with direct Gulf Coast access. The 6-phase DPZ master plan runs the full length of the peninsula from the marina district at the northern tip through six distinct neighbourhoods to the southern waterfront edge.
Phase I delivers infrastructure completion across four distinct asset classes. Padded lots are packaged and sold to local developers and builders — generating early return while retaining the value of the remaining 100+ acres.
At the heart of The Rapha lies one of Florida's largest private marinas — 250 concierge slips flanked by a luxury yacht club, boutique retail, and restaurant village. Hurricane-rated. Priced at $105,000/slip in Phase I, generating $17.5M in marina land revenue.
Phase I closes at $88.1M over 30 months. The combined Phase I & II stack totals $168.3M over 60 months — partially self-funded by ~$46.8M in Phase I pad revenue.
Phase I packages infrastructure-ready padded lots for sale to local developers. The improved land sells at a premium, generating ~$62.4M in pad revenue while retaining $117.7M in remaining land value for Phase II+.
| Asset Class | Units / Keys / Slips | Price per Unit | Revenue |
|---|---|---|---|
| Single-Family Detached Lots | 55 lots | $350,000 / lot | $19,250,000 |
| Single-Family Townhome Lots | 100 lots | $125,000 / lot | $12,500,000 |
| Condominium + Retail Land | 200 units / 4 bldgs | $30,000 / unit + retail | $8,639,000 |
| Marina — Wet Slips | 400 slips priced | $105,000 / slip | $17,500,000 |
| Resort Hotel Site (150 keys) | Pad-ready site | $30,000 / key | $4,500,000 |
| Wellness Institute Land (6 ac.) | 6-acre site | $1,300,000 / acre | $7,800,000 |
| Total Phase I Pad & Land Revenue | $62,389,000 | ||
The Rapha's Farm-to-Table initiative sources directly from on-site organic community gardens. The 6-acre Wellness Institute anchors the community as its second crown jewel — a spa, holistic integrative medicine, fitness, yoga, and a gourmet café. This is not an amenity. It is the soul of the community.
Independent of the current round but material to the Marina Island ecosystem. Both immediately adjacent, adding ~44 acres.