Project structure
The redevelopment plan covering Blocks 70, 72, 75, 77, and 79 is a joint venture involving K. Hovnanian, North Beach Holdings, and Block 79 QOZB LLC. North Beach Holdings and Block 79 QOZB LLC are Ryan-affiliated project entities.
This plan is separate from the Southeast Inlet plan covering Blocks 71, 73, 74, 76, and 78, where GS Land Holdings LLC is a co-redeveloper for Block 71.
Initial Block 79 phase
The land for the initial 38-townhouse Block 79 phase was sold to K. Hovnanian for approximately $4.0 million. Site work is underway or commencing for the approved homes.
Ryan’s involvement
Ryan has substantial personal involvement in the land assembly, project phasing, redevelopment planning, and transaction work through the affiliated entities. The broader effort includes roughly $20 million of land across multiple blocks.
Future phases
Future contracts for additional approved townhouse phases are being negotiated. The initial 38-home Block 79 phase is the completed land transaction; later phases remain in active development and negotiation.
Phased execution
Large land redevelopment is often a sequence of parcel assembly, planning, approvals, partner alignment, conveyances, and site work—not a single construction event. Reporting the work by block and phase makes the progress and remaining uncertainty clear.