What Related Ross Has Actually Built in West Palm Beach

Related Ross has delivered two office towers in downtown West Palm Beach, has two more rising and is bankrolling a graduate campus that has not broken ground. Set against each other, the named buildings tell a more specific story than the “empire” framing usually applied to Stephen Ross’s build-out: a first wave of office towers that filled up with Wall Street names, and a second wave now betting that a university campus can do for talent what the first towers did for capital.

Why it matters

360 Rosemary, a 20-story, roughly 300,000-square-foot tower, opened in 2021 and leased up to Goldman Sachs, Elliott Management and J.P. Morgan Chase, according to Commercial Observer and WPTV. One Flagler, a 25-story, 270,000-square-foot tower designed by David Childs, followed in 2025 and landed a 50,000-square-foot Wells Fargo wealth-management lease expected to house about 100 employees, Commercial Observer reported. That is the delivered record other developers can underwrite against. What is still under construction, 515 Fern and 10/15 CityPlace, is where the pricing power actually gets tested, because both towers are leasing against space that does not yet physically exist.

The numbers

515 Fern is a 25-story, 456,000-square-foot office tower with 15,000 square feet of retail, approved by the FAA to rise 386 feet, which would make it West Palm Beach’s tallest office building, per Florida YIMBY. 10/15 CityPlace is a roughly 490,000-square-foot, twin-tower project The American Developer previously reported was more than 60% pre-leased around a Cleveland Clinic outpatient anchor ahead of Greenberg Traurig’s 10-year, full-floor lease, targeted for 2027 delivery. Combined, that is roughly 946,000 square feet of office space under construction against 570,000 square feet already delivered and leased. Separately, Related Ross is backing Vanderbilt University’s planned $520 million West Palm Beach graduate campus, with Ross personally committing $50 million toward a project sized for about 1,000 students on seven acres of donated public land, according to Yahoo Finance and Vanderbilt’s own announcement.

What’s next

For developers in secondary Florida CBDs, the sequencing is the lesson: fill the first towers with anchor financial tenants to prove pricing power, then use that leverage to pre-lease the next towers before they top out, and only then reach for the amenity that locks in long-term migration, in this case a university pipeline rather than a park or a train stop. Vanderbilt’s campus still needs regulatory approval and has raised only a fraction of its second $250 million fundraising phase, per Vanderbilt’s own release, so the office towers remain the only part of the Miami region’s northern build-out that is actually built.