Stephen Ross, the billionaire real estate developer and owner of the Miami Dolphins, has announced the groundbreaking of Shorecrest, a boutique, luxury waterfront condominium development in West Palm Beach, and a key pillar of his firm’s long-term vision for the city.
Ross’ firm, Related Ross, has more than $10 billion planned in investment across Palm Beach County to attract global companies and talent to South Florida.
Ross’ West Palm developments are expected to add more than 6 million square feet of office space, 1.4 million square feet of condos, 700,000 square feet of retail and restaurant space, and 870 hotel rooms across 70 acres of land in West Palm.
“Related Ross’s conviction in West Palm Beach is rooted in a long-term vision of what this city can become,” Bryan Cho, executive vice president at Related Ross, tells Realtor.com®.
“The $10 billion investment is focused on building a complete ecosystem, from world-class office and residential to culture, retail, and infrastructure, that can attract top companies and talent. Projects like Shorecrest are an important step in elevating the residential offering on the waterfront and bringing that vision to life.”
Ross also put $10 million into a new initiative called Ambition Accelerated to attract CEOs to the Gold Coast of South Florida.
About Shorecrest
Shorecrest is set to rise 28 stories along Flagler Drive, an area often called West Palm Beach’s “Billionaires Corridor.”
Each of the 98 two- and three-bedroom residences will offer uninterrupted water views, highlighting the development’s focus on luxury and exclusivity.
The building’s design features just four residences per floor, emphasizing privacy for its residents, a hallmark of ultraluxury condominium living.
Prices start at $3.5 million, and sales are being led by Adam McPherson, senior vice president of residential sales with Related Ross and Corcoran Sunshine Marketing Group.
“Shorecrest represents a rare opportunity to deliver a truly intimate, design-forward waterfront residence in a market that is evolving rapidly,” McPherson tells Realtor.com.
“With just four homes per floor, expansive views, and a thoughtfully curated amenity program, the project is designed around how people want to live today. It’s a compelling reflection of where West Palm Beach is headed and the level of quality buyers are increasingly seeking.”
Shorecrest is designed by architectural firm Roger Ferris + Partners—renowned for their deep ties to the Hamptons aesthetic—and features interiors by Rottet Studio, blending modern lines with coastal sophistication.
The project is expected to reach completion in 2027, further cementing the area’s reputation as a prime waterfront destination.
Construction on Shorecrest began after $157 million in financing from GoldenTree Asset Management was secured, marking a major step forward for the luxury project.
Upscale amenities abound
Shorecrest is set to offer 18,355 square feet of curated amenities, anchored by a partnership with Equinox, including a golf simulator, fitness center, yoga studio, executive meeting spaces, game lounge, cocktail lounge, and private dining room. The rooftop deck will feature a 75-foot lap pool, hot tub, cold plunge, and separate his-and-her spa with sauna and steam rooms, all overlooking the Intracoastal Waterway.
An initiative called Related Life will offer private programming for residents, featuring events like cooking demonstrations, sommelier series, and workout classes.
Residents will also have access to a full-time concierge and a lifestyle director who will work on-site to handle residents’ needs—from restaurant reservations, on-site event planning, travel recommendations, and more.
Residents will also enjoy immediate access to Royal Poinciana Plaza, downtown West Palm Beach, and Related Ross’ neighborhood destinations, helping make Flagler Drive one of South Florida’s most coveted residential corridors. The area is emerging as a sophisticated alternative for buyers seeking new-construction luxury beyond Palm Beach Island.
West Palm Beach is booming
Since the COVID-19 pandemic, West Palm Beach has become a financial hub, attracting hedge funds, private equity firms, and wealth management operations to the area.
This has earned the area the nickname “Wall Street South,” according to Palm Beach real estate broker Jeff Lichtenstein, CEO of Echo Fine Properties.
“‘Wall Street South’ was born in downtown West Palm Beach, which attracted big-money players,” he tells Realtor.com. “Vanderbilt [University] is building a feeder school for the financial market there.”
Lichtenstein says there’s a lot of development going on, with one construction crane after another.
“CityPlace, in downtown, is going through lots of new construction and being reimagined,” he explains, “Pricey condo development is a constant. Keep in mind that all of Palm Beach County is out of land east of I-95, so this area is prime for development. West Palm Beach is too close to the water for it not to occur. “
As a result, Lichtenstein says, “West Palm Beach is becoming younger and more expensive, with newer money and lots of it. Stephen Ross is super brilliant. Because of him, downtown West Palm Beach is in the middle of a major metamorphosis.”