At 84, billionaire developer Stephen Ross is making one of the boldest real estate moves in the United States – transforming West Palm Beach into a thriving hub for finance, technology, and luxury living. Through Related Ross, a firm he launched in 2024, Ross is investing over €9 billion to reshape this South Florida city’s skyline and economy.
Massive Urban Redevelopment Underway
What began as a pandemic relocation to his Palm Beach estate quickly evolved into a sweeping urban vision. Ross has since acquired more than 3.8 million square feet across downtown West Palm Beach, focusing on premium office towers, residential developments, and cultural spaces.
Key projects include:
- 360 Rosemary – A 20-story office tower leased to Goldman Sachs and JP Morgan.
- One Flagler – A financial district centerpiece, 80% pre-leased.
- South Flagler House – Twin luxury condo towers designed by Robert A.M. Stern, featuring 108 residences.
- Shorecrest – Waterfront condominiums offering panoramic views of the Intracoastal Waterway.
Building a Financial and Educational Hub
West Palm Beach is quickly becoming a magnet for hedge funds, asset managers, and private equity firms, earning the nickname “Wall Street South.” Ross’s strategic developments are a major catalyst behind this transformation.
His €48 million donation to Vanderbilt University has led to plans for a €500 million graduate campus in West Palm Beach. This new institution will host business and engineering schools, with a focus on technology and artificial intelligence, further boosting the city’s knowledge economy.
Investing in Community and Infrastructure
Ross is not only building for the affluent. His nonprofit, Related Together, supports affordable housing and community initiatives. Notable projects include The Laurel, a workforce housing tower, and a planned €560 million hospital to serve the growing population.
In Wellington, Ross proposes a 66-acre mixed-use development comprising:
- 600 residential units,
- 250,000 m² of retail space,
- a 150-room hotel,
- and a private school for 1,200 students.
Rising Property Market
The local real estate market is booming alongside the city’s growth. Current listings include:
- €273,000 for a two-bedroom condo at Sable Pine Circle,
- €547,000 for a three-bedroom home in Quail Meadow,
- over €1 million for four-bedroom residences in sought-after neighborhoods.
These rising prices highlight West Palm Beach’s growing appeal as both an investment and lifestyle destination.
Challenges and Future Outlook
Despite facing challenges such as housing affordability and infrastructure demands, Ross remains steadfast in his vision. His developments are not merely about new buildings but about crafting a vibrant, sustainable city that can attract global talent and capital.
With his ambitious portfolio, Stephen Ross is redefining West Palm Beach, positioning it as a serious contender among America’s top cities – a sunny, dynamic alternative to New York and San Francisco.
