The firm filed plans for a 194-unit condo tower at 464 Fern Street, on a downtown block it bought for $55 million in May. It is designed for fewer, larger, higher-end homes than the rental projects that stalled on the site before.
Key Takeaways
- Related Ross filed plans for a 25-story, 194-residence tower at 464 Fern Street in downtown West Palm Beach, on a site it bought for $55 million back in May.
- The plan skews larger and pricier per unit, with two- to four-bedroom layouts, a bet on fewer, more upscale residences.
- The same lot stalled under prior developers for years, and the project is still under municipal review and not yet approved.
Related Ross keeps stacking up downtown West Palm Beach, and it just added another tower to the pile. According to Florida YIMBY, Stephen Ross's firm has filed plans for a 25-story residential tower at 464 Fern Street, with 194 residences on a site it paid $55 million for in May. The twist: a group of developers spent years unable to build anything on this exact lot before Related Ross stepped in and took it over.
What is Related Ross planning at 464 Fern Street?
The Residences at 464 Fern Street would rise 25 stories, about 316 feet, with 194 residences, 4,343 square feet of ground-floor commercial space, and 486 parking spaces, on a 2.64-acre site in downtown West Palm Beach. Related Ross bought the land for $55 million in May, and Roger Ferris and Partners, the same firm behind Ross's nearby Shorecrest tower, is the architect.
Units will have two to four bedrooms, with amenities on the fifth floor, including a lap pool, outdoor bar, fitness center, and game room, plus a ground-floor garden plaza with public art. The design is striking: a mostly glass tower with white horizontal floor plates, rounded corners, and stacks of curved terraces above a rounded parking podium. No pricing or completion timeline has been released, and the project is still in municipal review, so the plan could change.
Why does this lot matter, and what is the twist?
The more interesting part is the lot's history. Before this filing, the nearly full city block cycled through proposals from 13th Floor Investments, Wexford Real Estate Investors, and L&L Holding, who assembled the site for roughly $27 million between 2021 and 2022. In 2022 they pitched Residences of Palm Beach West, a 25-story project with 372 rental apartments and a 28,000-square-foot grocery store, later revised to about 400 units.
None of it got built, even as downtown West Palm Beach boomed around it. Related Ross stepped in, paid $55 million for the land, roughly double what the partners had assembled it for, and kept them in the deal. The earlier plans never fully explained why they stalled, but the walkable, CityPlace-adjacent block was clearly worth the wait for Ross.
How is Related Ross's bet different?
The prior plans called for 372 to 400 rental apartments. Related Ross's version is 194 residences, far fewer units, but larger and more upscale, with two- to four-bedroom layouts aimed at the top of a downtown that has moved sharply upmarket. It is a bet on fewer, more expensive homes rather than volume rentals, and it fits the pattern of Ross's other West Palm projects, from Edgeworth to South Flagler House.
What sets 464 Fern apart is its location. Related Ross calls it a distinct offering from its waterfront residences: an inland, walkable, CityPlace-adjacent building rather than a Flagler Drive waterfront one. For buyers, that widens the menu in a city that is rapidly filling with luxury towers.
Thinking about buying into downtown West Palm Beach as it transforms? With so many new towers, a local guide can help you compare them. Talk to a real estate agent in West Palm Beach who tracks the downtown pipeline. Reach out to The Mastropieri Group, Realtors® or call (561) 556-9853.
How does 464 Fern fit Related Ross's West Palm empire?
With 464 Fern, Related Ross now owns or is building more than a dozen downtown properties, from CityPlace, One Flagler, 360 Rosemary, and Phillips Point to the record $772 million CityPlace office towers, South Flagler House, Shorecrest, and Edgeworth. Together they make Related Ross by far the city's largest developer, part of a roughly $10 billion West Palm Beach program.
It is the second 25-story downtown tower we have covered in two straight weeks, after last week's Banyan Tree Residences. The through-line is simple: buyers keep showing up, so the towers keep coming. And while Ross is the dominant player, he is not the only one, with developers like Savanna building nearby. For West Palm Beach, it adds up to a fast, high-end transformation led by one very active firm.
Watch More on This Topic: Watch this segment | Full Episode | Last week's recap
Frequently Asked Questions
What is the Residences at 464 Fern Street?
It is a proposed 25-story residential tower with 194 units in downtown West Palm Beach, developed by Related Ross and designed by Roger Ferris and Partners. It would include ground-floor commercial space, a fifth-floor amenity level, and a garden plaza, and it remains in municipal review, meaning it is not yet approved.
How much did Related Ross pay for the 464 Fern Street site?
Related Ross paid $55 million for the roughly 2.64-acre downtown block in May. That was about double the roughly $27 million the previous partnership had spent assembling the same site between 2021 and 2022, a sign of how much downtown West Palm Beach land now commands.
How many units will the 464 Fern Street tower have?
The current plan calls for 194 residences with two- to four-bedroom layouts. That is far fewer than the 372 to 400 rental units earlier proposed for the site, reflecting Related Ross's bet on fewer, larger, and more upscale homes rather than high-volume rentals.
Who designed the 464 Fern Street tower?
Roger Ferris and Partners designed the tower, the same architecture firm behind Related Ross's Shorecrest tower, which is under construction elsewhere in West Palm Beach. The design features a mostly glass exterior with rounded corners and stacked curved terraces.
How many projects does Related Ross have in West Palm Beach?
With 464 Fern Street, Related Ross now owns or is building more than a dozen downtown properties, including CityPlace, One Flagler, the $772 million CityPlace office towers, South Flagler House, Shorecrest, and Edgeworth. It is the city's largest developer.
Local help for West Palm Beach buyers, sellers, and investors
Whether you are eyeing a new downtown condo, selling in a fast-moving market, or weighing an investment as West Palm Beach transforms, it helps to work with a team that follows the city's development closely. Reach out to The Mastropieri Group, Realtors® in West Palm Beach, or call (561) 556-9853 for practical, hands-on guidance across South Florida.
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