T
he West Palm Beach Planning Board has given its approval to a joint venture between BH Group and Related Group to develop the Ritz-Carlton Residences, West Palm Beach, a 26-story luxury condo tower along the city's waterfront. The board voted 5-0 in favor of the project, which will feature 138 units ranging from 1,400 to 3,000 square feet, with prices starting at $2.5 million. The development team was granted six variances, including permission for slightly larger balconies and reduced entry points on North Flagler Drive.

    The site, spanning 2.6 acres, includes a separate parcel with an existing income-restricted apartment building that will not be demolished. However, three vacant office buildings at the site will be torn down to make way for the new project. Sales for Ritz-Carlton Residences, West Palm Beach, launched in March through Douglas Elliman.

    The joint venture between BH Group and Related Group has become a dominant force in South Florida's development scene. They recently acquired another waterfront lot in West Palm Beach for $34 million, although plans for the site have not been disclosed. The Ritz-Carlton brand is also set to appear in other projects across the region, including a complex of three luxury condo buildings in Palm Beach Gardens, which secured $340 million in construction financing last year.