Billionaire Stephen Ross has completed the acquisition of a plot of land to realise a major open-air mixed-use project in Wellington, an area in Palm Beach County, Florida, known for its equestrian scene. Related Ross, the developer's eponymous company, paid $28.3 million for a 32-acre parcel at 10400 Stribling Way, east of State Road 7, according to property records. The planned project, known as Village Landing, is set to include a 180-room hotel as well as over 300,000 square feet of retail, office, and restaurant space, all connected by six plazas.
Kevin Ryan, Executive Vice President at Related Ross, commented on the endeavour in a statement: "Our goal is to create a village center that complements what is already special about Wellington, while adding everyday amenities, dining, experiences, and connections designed to serve the western communities of Palm Beach County." Project financing was secured through Starwood Property Trust with a $29.1 million loan. Construction is expected to commence in the autumn.
Comprehensive Development and Strategic Direction
The western part of the site, comprising approximately 44 acres, will be transformed into a private primary school to be operated by ElevateED. The sale of this area is expected to close in October, according to a Related Ross representative. The entire 71-acre area is part of the Acme Improvement District, which was previously managed by the Village of Wellington. This special district was established by the Florida Legislature in 1953 to manage water drainage and infrastructure development.
Village Landing represents Related Ross's first new development outside West Palm Beach since the company was founded in 2024 and became the city's largest office owner. Stephen Ross pursues the overarching goal of developing West Palm Beach into a leading economic hub, attracting high-profile technology and financial companies. The West Palm Beach-based company is currently constructing two further office buildings, having received a $772 million construction loan package last year. In addition, two luxury condominium developments are under construction.
Key Development Points
- —180-room hotel as a central component of the complex.
- —Over 300,000 square feet for retail, offices, and catering.
- —Connection through six plazas, forming the social hub.
- —Private primary school on a separate 44-acre plot.
