Related Group, BH Group Greenlighted for Rosewood Residences

Related Group and BH Group’s planned Rosewood Residences in West Palm Beach got the go-ahead.

The city of West Palm Beach approved the luxury condo tower at 2001 North Flagler Drive, a BH spokesperson confirmed. The property is next to the site BH and Terra are buying from billionaire Jeff Greene for $100 million, planning a pair of 31-story condo towers.

The developers 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 are expected to average about 3,400 square feet.

Miami-based Arquitectonica, led by Bernardo Fort Brescia, designed the project, which will replace a medical office building completed in 2001.

Related, led by Jorge Pérez and his sons Jon Paul and Nick Pérez, and BH, led by Isaac and Liat Toledano, did not immediately respond to requests for comment.

The developers are partnering on the planned Ritz-Carlton Residences at 1717 North Flagler Drive, a 27-story, 138-unit tower that landed a $200 million construction loan from Madison Realty Capital in March.

Related also is working with Dezer Development on a Rosewood-branded condo project in Hillsboro Beach. In Miami Beach, Nahla Capital is planning a Rosewood-branded condo and hotel development at the Raleigh site.

The approval comes as West Palm Beach’s condo development pipeline continues to skyrocket, with more than 2,000 units in the works. Major players in the market include billionaire Steve Ross’ Related Ross, Fort Partners, Terra and Related Group.

Ross, who has invested billions in West Palm Beach commercial real estate, has four condo projects planned in the city. His latest venture is a partnership with Wexford Real Estate Investors, 13th Floor Investments and L&L Holding Company on a proposed condo development that includes the former Russo’s submarine shop site.