Raffles Announces First Standalone Branded Residences With 35-Unit Waterfront Development In Coconut Grove, Miami

Raffles Hotels & Resorts, part of the Accor hospitality group, has announced plans for Raffles Residences Coconut Grove, a 35-unit waterfront condominium development at 2545 South Bayshore Drive in Miami’s Coconut Grove neighborhood. The project is being developed by Mast Capital and BH Group, with architecture by Brandon Haw Architecture. The development will mark the hospitality brand’s first standalone residential property, offering private residences without an accompanying hotel component.

Situated along Biscayne Bay, the development will comprise a limited collection of two- to four-and-a-half-bedroom residences, including a selection of penthouses. Prices will start at $4.5 million, with sales anticipated to launch in fall 2026.

Credit: DBOX/Raffles Residences Coconut Grove

The project represents an expansion of Raffles’ branded residential portfolio, which previously entered the North American market with Raffles Boston, a mixed-use hotel and residential development. Unlike the Boston property, the Coconut Grove development will operate exclusively as a residential building, incorporating the hospitality company’s services and amenities into a privately owned condominium setting.

“Raffles has always evolved by bringing its distinctive spirit to new destinations. As a neighborhood with a rich cultural heritage, a strong sense of community, and an effortless sophistication, Coconut Grove is a natural first for our first standalone, branded residences,” said Omer Acar, CEO, Raffles. “Through Raffles Residences Coconut Grove, we are excited to introduce the magical world of Raffles to this unique corner of Miami and look forward to creating a highly personalized residential experience that also feels authentically connected to the community.”

Brandon Haw Architecture is leading the architectural design. The firm was established in 2014 by Brandon Haw following a 26-year tenure at Foster + Partners, where he directed the international practice’s United States operations. The proposed development is described as a sculpted waterfront structure designed to take advantage of its location along Biscayne Bay, with views extending across the water, the surrounding residential neighborhoods of Coconut Grove, and the Miami skyline.

Credit: DBOX/Raffles Residences Coconut Grove

The property occupies a waterfront site within one of Miami’s oldest neighborhoods, characterized by mature tree canopies, historic residential estates, and a mixture of low-rise and mid-rise developments. Its location along South Bayshore Drive places the proposed residences near the neighborhood’s established waterfront and residential districts.

“Coconut Grove has always held a distinct place within Miami, evolving over generations while preserving the character and authenticity that make it unlike anywhere else,” said Camilo Miguel Jr., Founder and CEO of Mast Capital. “Its history, discretion, and deep connection to place are naturally aligned with what Raffles has represented for nearly 140 years. Working with Raffles to bring their first standalone residential development to the Grove gives us a rare opportunity to create something truly singular: a new waterfront landmark that is unmistakably Raffles but could only exist in Coconut Grove.”

The residential program will incorporate hospitality services associated with the Raffles brand, including its signature Butler Service. The relatively small number of residences is intended to support individualized services, with staff accommodating homeowners’ preferences and daily routines.

Accor One Living, the hospitality group’s platform for branded residences and mixed-use developments, will support the project’s development, design, and operational components. The platform provides oversight and coordination for residential properties operating under Accor’s hospitality brands.

“At this scale, the Raffles philosophy of hospitality can be experienced on a deeply personal level,” said Isaac Toledano, Founder of BH Group. “Homeowners can be known, their preferences understood and the experience shaped around the way they live. That level of recognition, service, and privacy is increasingly difficult to achieve, particularly in a market where opportunities for new waterfront residences are so finite. Raffles Residences Coconut Grove brings together an extraordinary brand, an irreplaceable site, and a level of intimacy that simply cannot be replicated at a larger scale.”

Residents will also be eligible for the Accor Ownership Benefits Program, which provides access to hospitality benefits across the company’s international portfolio. These include VIP recognition, Elite membership in the ALL Accor loyalty program, and preferred rates at more than 5,800 hotels and resorts spanning over 45 brands worldwide.

Raffles traces its origins to the opening of Raffles Singapore in 1887 and has since expanded its hotel and residential operations internationally. The Coconut Grove development will introduce the brand’s first property dedicated entirely to private residential ownership.

Sales for Raffles Residences Coconut Grove are expected to begin before the end of 2026. A construction commencement date and anticipated completion timeline have not been disclosed.

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