Related Ross Secures Major Financing for New West Palm Beach Condo Tower

$157M Construction Loan Greenlights Shorecrest on Flagler Drive

Related Ross, the West Palm Beach–based development arm of billionaire Steve Ross, has closed on a significant construction loan to build Shorecrest, a waterfront condominium tower that deepens the company’s footprint on the city’s Intracoastal corridor. The project at 1865 North Flagler Drive just north of downtown will rise 28 stories and contain 98 luxury residences.  

The $157 million construction loan was provided by GoldenTree Asset Management, a repeat capital partner that also helped finance Related Ross’s earlier $600 million package for South Flagler House. Demolition and site preparation are set to begin this month, with vertical construction following in spring and completion expected in 2027.  

Shorecrest’s residences are configured with two- and three-bedroom layouts, four units per floor, and pricing that starts around $3 million. Design work is led by Roger Ferris + Partners with interior spaces by Rottet Studio and landscape architecture by DS Boca. Amenities spanning roughly 18,355 square feet will be managed in partnership with Equinox, and include a 75-foot rooftop lap pool, spa, sauna and steam rooms, meeting facilities, a golf simulator, private dining room, and lounge areas.  

The Shorecrest financing underscores continued confidence among lenders in West Palm Beach’s luxury residential sector even as new condo inventory grows. Related Ross has said its long-term investment strategy includes a multi-billion-dollar development agenda in the market, which also encompasses rental, office, and mixed-use components tied to its CityPlace platform.  

This newest tower sits among a broader wave of high-end residential projects along West Palm’s waterfront, reflecting strong buyer demand for well-appointed product and strategic positioning near downtown amenities, cultural anchors, and the Intracoastal Waterway.