WEST PALM BEACH, FL - Related Ross today announced the closing of a $157 million construction loan for Shorecrest, a modern collection of distinctive waterfront condominium residences in West Palm Beach and a key component of the firm’s expansive vision for the future of the South Florida city. With construction financing provided by GoldenTree Asset Management, construction is now set to begin on the new waterfront tower, introducing bespoke architectural design and a wellness-infused lifestyle – including amenities and services curated in partnership with Equinox – to the reimagined North Flagler Drive neighborhood. With commanding views of the Intracoastal Waterway and adjacent Palm Beach Island, and easy connectivity to downtown West Palm Beach and Related Ross’s thriving CityPlace, Shorecrest will elevate one of West Palm Beach’s most exciting corridors. Completion is expected in 2027, and current availability is priced from $3 million.
“The closing of this construction loan marks an important step forward for Shorecrest and speaks to the market’s confidence in the project’s quality, location, and long-term value,” said Bryan Cho, Executive Vice President at Related Ross. “GoldenTree Asset Management’s commitment reinforces the momentum we’re seeing in West Palm Beach’s luxury residential sector.”
Situated at 1865 North Flagler Drive, Shorecrest will rise 28 stories and comprise just 98 luxury waterfront residences offering impressive vistas of the Intracoastal Waterway, Atlantic Ocean, and Palm Beach Island. Designed by critically acclaimed Roger Ferris + Partners, the tower’s architectural façade serves as a striking modern statement, while just four residences per floor ensure that the light-filled two- to three-bedroom homes by international design firm Rottet Studio feel both refined and intimately connected to West Palm Beach’s coastal landscape.
Demolition and site preparation will begin this month, with groundbreaking for the tower slated for the spring.
Shorecrest is leading the way in turning the North Flagler neighborhood into a new luxury destination just across the Intracoastal Waterway from Palm Beach Island. Its 18,355 square feet of thoughtfully curated amenities are designed to support an uninterrupted, distinctly South Floridia experience anchored by a partnership with Equinox. Offerings include a golf simulator, executive meeting spaces, an onsite residents-only Lifestyle Director, a game lounge, a private dining room, and a rooftop pool deck featuring a 75-foot lap pool, complemented by a hot tub, cold plunge, and his-and-hers spas with dedicated sauna and steam rooms.
The financing builds on Related Ross’s growing momentum in West Palm Beach, where the firm is actively advancing a series of residential projects that are redefining both the waterfront and the city’s urban core. Recent achievements include the topping out of South Flagler House, a two-tower ultra-luxury waterfront condominium located two miles south of Shorecrest and expected to open in 2027, as well as the successful lease-up of The Laurel, a 322-unit luxury rental community at CityPlace that is closely woven into downtown West Palm Beach.
Shorecrest represents the next phase of Related Ross’s long-term vision for the city, anchoring the transformation of the North Flagler waterfront into a vibrant, walkable neighborhood with direct connections to downtown, Brightline, and the multimillion-dollar revitalization of Currie Park. As part of the firm’s more than $10 billion investment in West Palm Beach, the project reflects a continued commitment to elevating the city’s global profile through sustained economic growth, innovation, and year-round urban vitality.
Sales for Shorecrest are being led by Corcoran Sunshine Marketing Group. For more information, visit shorecrestwpb.com, call 561-220-6011, or email info@shorecrestwpb.com.
About Related Ross: Led by visionary developer Stephen Ross, Related Ross is a fully integrated real estate company shaping South Florida’s next generation of growth. With more than $10B planned in investment across Palm Beach County, the firm is a market leader in attracting global companies and talent to South Florida. As a catalyst for regional growth, Related Ross is advancing developments through public-private partnerships that strengthen business ecosystems, expand attainable housing offerings, support world-class healthcare, enhance higher education and K-12 opportunities, and cultivate innovation hubs to accelerate South Florida’s dynamic business and cultural growth. The firm also curates entertainment programming and thought-leadership initiatives that position the region as a national center for ideas and experiences. Its portfolio spans mixed-use, Class AA+ lifestyle office, luxury residential, affordable housing, city centers, hotels and hospitality, and public realm, designed to anchor long-term economic vitality in the communities they build. Through the Related Ross Foundation, the company is focused on equitable growth that expands access to education, employment, and cultural vitality. For more information, visit www.relatedross.com
About GoldenTree Asset Management: GoldenTree is an employee-owned, global asset management firm that specializes in opportunities across the credit universe in sectors such as high yield bonds, leveraged loans, private credit, distressed debt, structured credit, emerging markets, real estate, private equity and credit-themed equities. GoldenTree was founded in 2000 and is one of the largest independent asset managers focused on credit. GoldenTree manages over $65 billion for institutional investors including leading public and corporate pensions, endowments, foundations, insurance companies and sovereign wealth funds. For more information, visit: www.goldentree.com