West Palm Beach is entering a defining stretch. A cluster of luxury condominium projects — several tied to hospitality brands and many built around private marinas and resort-style services — is set to deliver through 2027, 2028 and beyond. What that construction pipeline means for the city is less a story of volume than of redefinition: the standard for a high-end residence here has shifted markedly in a few short years.
A Market Redrawn
The scale of the change is visible in the numbers. In the third quarter of 2020, the median price for a luxury condominium — measured as the top ten percent of sales — sat at $407,500, according to appraiser Miller Samuel and Douglas Elliman. By the third quarter of 2023, that figure had climbed to nearly $3 million. The city's current condo sales record stands at $42.6 million.
Momentum has not slowed. Pending luxury home sales in West Palm Beach, condos included, rose 30 percent year over year in January — the largest increase among the fifty largest U.S. metropolitan areas, per Redfin. Luxury prices climbed 11 percent over the same period, more than double the national rate.
Because many of the newest projects have yet to close, the next wave of recorded sales could push pricing benchmarks even higher, according to Jonathan Miller, president of Miller Samuel.
What the New Buildings Offer
The projects now rising or planned share a common thread: they function less like apartment towers and more like vertical resorts, offering hotel-style services without a hotel attached. Boat slips have become standard at many, and shared yachts, concierge-arranged travel and wellness programming are increasingly treated as baseline rather than exception.
Brand-Aligned Developments
Ritz-Carlton Residences — a 27-story tower from BH Group and Related Group, which broke ground with prices starting at $3 million.
Mandarin Oriental — a planned 31-story property spanning 215 feet along the Intracoastal Waterway, with 87 units, private docks and a rooftop pool. Construction is expected to begin at the end of 2027.
Banyan Tree — an 88-unit downtown project on Hibiscus Street from Mast Capital, marking the Singapore hospitality firm's first development in the United States.
Waterfront and Wellness
South Flagler House — a 108-unit waterfront development from Related Ross, designed by Robert A.M. Stern Architects, featuring a wine-tasting room, pickleball court and 24-hour concierge.
Edgeworth — Related Ross's third West Palm project, its launch moved up by a year, with an emphasis on wellness and holistic living.
Olara — a 26-story waterfront project from New York investor Savanna, delivering in 2028 with a private marina, an oyster bar and year-round pool attendants.
Alba — completing this year from BGI Capital, with buyers receiving private jet flight credits and local yacht club membership.
The Forces Behind the Pipeline
The construction reflects a broader movement of wealth into Palm Beach County. Newcomers in 2023 brought roughly $3 billion more in income than departing residents took out, giving the county the largest net gain in taxable income in the country, according to the Economic Innovation Group.
Developers describe a changed clientele. "The client four years ago and the client now is not the same," said Kenneth Baboun, managing partner at BGI Capital. "Four years ago, they were still discovering. Now they're looking at it as their homestead." Isaac Toledano, chief executive of BH Group, framed the appeal in relative terms: buyers arriving from higher-cost markets often view a condo here as comparatively modest against what they sold elsewhere.
What It Means Going Forward
The delivery wave concentrated in 2027 and 2028 will bring a substantial number of high-end units to market over a compressed period. That timing matters. As these buildings close, their sales will be recorded and folded into the city's pricing data, potentially setting new reference points for what a luxury residence in West Palm Beach represents.
The defining feature of this cycle is not simply more inventory but a reframing of expectations — waterfront access, brand affiliation and full-service amenities have moved from differentiators to prerequisites. For anyone tracking the city's trajectory, the years ahead will test whether demand keeps pace with an ambitious supply, and how the record set today holds against what delivers tomorrow.
Figures and project details reflect reporting available at the time of writing and are subject to change as construction and sales progress.