Rosewood Hotels & Resorts is adding one more property to its portfolio in South Florida.
The hotel group is branding Related Group and BH Group’s planned condo tower at 2001 North Flagler Drive in West Palm Beach, adding to the pipeline of branded residences in the city and throughout the region, The Real Deal has learned.
The joint venture development team paid $34 million for the 0.8-acre site in 2024. Earlier this year, they filed plans for a 27-story, 90-unit luxury high-rise with more than 13,000 square feet of indoor amenities, a swimming pool on the fifth floor and 185 parking spaces, YIMBY reported. Units would average about 3,400 square feet.
Miami-based Arquitectonica, led by Bernardo Fort Brescia, is the architecture firm.
The project will replace the site of a medical office building that was completed in 2001.
Miami-based Related, led by Jorge Pérez and his sons Jon Paul and Nick Pérez, and Aventura-based BH, led by Isaac and Liat Toledano, did not immediately respond to requests for comment.
Related and BH both have other projects in West Palm Beach. The two are also partnering on the planned Ritz-Carlton Residences, a 27-story, 138-unit tower slated for the site at 1717 North Flagler Drive. In March, they secured $200 million in construction financing from Madison Realty Capital.
Related and Dezer Development are also building a Rosewood-branded condo project in Hillsboro Beach. In Miami Beach, Nahla Capital plans a Rosewood condo and hotel at the Raleigh property.
More than 2,000 condos are in the works in West Palm Beach. Top developers include billionaire Steve Ross, of Related Ross, and a number of those buildings are being developed by Miami’s biggest players, including Fort Partners, Related Group and Terra.
Next door to the Rosewood property, BH is joining forces with David Martin’s Miami-based Terra to purchase the site at 2023 Flagler Drive for more than $90 million, sources told TRD. The seller, billionaire Jeff Greene, confirmed the pending purchase price and that the adjacent site will be a Rosewood. Additional sources confirmed the Rosewood brand.
Ross has four condo projects planned in West Palm, a city where he has already invested billions of dollars into commercial real estate. His latest involves joining Wexford Real Estate Investors, 13th Floor Investments and L&L Holding Company on a planned condo project that will be built on a site that includes the former Russo’s submarine shop.
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