The Related Companies, in partnership with Stephen M. Ross, has plans for Shorecrest, a luxury high-rise venture in West Palm Beach. The community will rest on a 1.83-acre build site.
Related Companies has acquired Sorrento, an affordable housing community in Miramar, Florida, from Zom Foxcraft, an entity tied to ZOM Living and NRP Group for $48.2 million, equating to $150,625 per unit. The 320-unit, garden-style apartment community offers LIHTC income-restricted apartments at 8991 and 9577 Southwest 41st Street. The property was completed by ZOM Living in 2012 and was originally financed through the federal Low Income Housing Tax Credit Program and various state and county debt financing programs.
West Palm Beach’s skyline is primed for continued transformation as the Federal Aviation Administration (FAA) gives the green light to construct 515 Fern, an impressive 25-story tower set to redefine the city’s commercial landscape. This FAA approval marks a significant milestone for New York-based developer Related Companies, known for their iconic Hudson Yards development, who is behind this ambitious project. The structure, set to soar to 385 feet (or 404 feet above mean sea level), is poised to become West Palm Beach’s largest office tower.
Related Companies recently announced the purchase of the development site for South Flagler House, situated at 1355 South Flagler Drive along the prestigious Gold Coast in West Palm Beach, Florida. Acquired from global real estate development firm Hines and Palm Beach-based real estate investment firm Frisbie Group, this significant acquisition marks a new chapter for South Flagler House. Anticipated to deliver an exceptional luxury residential experience in the Palm Beaches, the project will be overseen by Related Companies, leveraging their enduring collaboration with the esteemed architecture firm Robert A.M. Stern Architects (RAMSA), a partnership spanning over two decades and 17 buildings nationwide. Sales leadership will be in the hands of one of the country’s top agents, Suzanne Frisbie.
A new era may be dawning for the Miami International Airport as two developers are vying to build a new hotel connected to the bustling transportation hub. After more than six decades without competition, the Miami International Airport Hotel, which links to Terminal E, may soon have a companion. FDR Miami Hotel LLC and Parmco Airport Hospitality LLC are currently in the running, awaiting a decision on who will secure the 50-year lease from the county to construct a new hotel adjacent to the airport.