Steve Ross, chairman of Related Companies, is planning his fourth condominium project in West Palm Beach, according to an April 9 report. The new development will be built through a partnership with Wexford Real Estate Investors, 13th Floor Investments, and L&L Holding Company’s entity WPB Fern Holdings.
The upcoming tower is expected to include between 100 and 130 condo units on a 2.2-acre site along South Dixie Highway. This announcement follows the recent launch of sales for Edgeworth, Ross’ third planned condo tower in the city.
The partners have owned the land since purchasing it for $26.1 million in 2021. Their initial plan was to build a 25-story apartment building with 372 units at addresses spanning Fern Street, Gardenia Street, and South Dixie Highway. However, that proposal did not move forward despite strong residential development activity in West Palm Beach over the past five years.
Ross’ other projects in the area include South Flagler House—a two-tower complex where unit prices average $15 million—and Shorecrest, which received a $157 million construction loan earlier this year. Last month saw sales begin for Edgeworth’s planned two towers comprising a total of 168 units. In addition to these luxury condos, Related completed the Laurel last year: a 21-story apartment building located within CityPlace.
A spokesperson for Related said that pre-sales across its West Palm Beach residential portfolio are on track to reach $1 billion by season’s end. Other developers are also active locally; David Martin’s Terra, Jorge Pérez’s Related Group and Camilo Miguel Jr.’s Mast Capital are among those planning more than 2,000 new housing units throughout the city.
