Stephen Ross's Related Ross has locked in a $157 million construction loan to build Shorecrest, a 28-story waterfront condominium at 1865 North Flagler Drive in West Palm Beach. Plans call for roughly 98 luxury two- and three-bedroom residences and about 18,000 square feet of amenity space, headlined by a rooftop 75-foot lap pool. Demolition and site preparation are underway, with the developer saying vertical construction will follow this spring and the building is slated to deliver in 2027. The deal lands as Related Ross advances a cluster of other waterfront projects along North Flagler Drive, turning that stretch into something of a construction hot zone.
Loan, Lender and Timeline
In a Feb. 18 press release, Related Ross said GoldenTree Asset Management is providing the $157 million construction loan for Shorecrest. The lender has backed other Related Ross financings, a pattern that underscores how private-credit players are leaning into South Florida condo projects, according to The Real Deal. The developer reports that demolition and site work are already in motion, with vertical construction expected to start this spring and completion targeted for 2027.
Amenity-Packed Residences
Developer materials and local coverage outline a wellness-focused amenity package built around a rooftop pool deck anchored by a 75-foot lap pool, plus a hot tub and cold plunge. Plans also call for spa facilities with separate sauna and steam rooms, along with dedicated spaces for entertaining and work. Connect CRE and the project's marketing materials list additional perks such as a golf simulator, game lounge, executive meeting spaces and a private dining room curated with Equinox programming.
There is a small wrinkle on the unit count. Related Ross's construction announcement lists 98 residences, while the Shorecrest fact sheet and some sales materials show 100 units, suggesting an adjustment during approvals and marketing; those figures appear in the sales materials from Shorecrest.
How Shorecrest Fits the Local Market
Shorecrest is one of several high-end condo projects now reshaping West Palm Beach's waterfront as developers chase demand for luxury ownership along the Intracoastal. The Real Deal has reported that the city has more than 2,000 condo units in various stages of development. At the same time, planning coverage has emphasized the trade-offs, including public benefits, park improvements and infrastructure commitments, that are being used to justify taller buildings and higher density along North Flagler Drive, according to Florida YIMBY. The Shorecrest loan and approvals show how developers are packaging those public benefits to reach higher densities and luxury price points.
Next Steps for the Site
The GoldenTree financing clears a key hurdle, and Related Ross says site preparation is already underway, with vertical construction slated to kick off this spring and delivery expected in 2027. Corcoran Sunshine Marketing Group is handling sales, with initial pricing starting near $3 million, and the developer's materials point buyers to a CityPlace sales gallery and listed contact information. How fast those units move will depend on broader market demand and how smoothly construction progresses as Shorecrest starts to rise over the North Flagler corridor.
