Raffles Hotels & Resorts plans to bring its first standalone residential project to Coconut Grove, marking a new chapter in the hospitality brand’s 139-year history. The development, planned for a Biscayne Bay site, will include 35 homes, with prices starting at $4.5 million. Sales are expected to begin in fall 2026.
Key takeaways
The project combines Raffles’ hospitality brand with a limited collection of private residences in Miami’s Coconut Grove neighborhood.
- The development is planned for 2545 South Bayshore Drive.
- It will offer 35 residences with two to 4.5 bedrooms.
- Prices start at $4.5 million.
- Mast Capital and BH Group are developing the project with Raffles.
A first standalone residential project
Raffles Residences Coconut Grove is the global hospitality company’s first standalone residential development. The project is being developed with South Florida-based Mast Capital and BH Group, and is planned for a site on Biscayne Bay at 2545 South Bayshore Drive.
The homes will range from two to 4.5 bedrooms. Douglas Elliman Development Marketing will lead sales and marketing, with Matthew Chook overseeing the effort alongside agents Lourdes Alatriste, Jennifer Goldstein and Jorge Sanchez. The development was scheduled to begin sales in fall 2026, according to the announcement.
Raffles brand and owner benefits
Founded in 1887 with Raffles Singapore, the brand has since expanded to destinations including Boston, Paris, London, Istanbul, Dubai, Doha, Jaipur, Phnom Penh and Bali. Raffles CEO Omer Acar described Coconut Grove’s cultural heritage and community character as a fit for the company’s first standalone branded residences.
Owners will be eligible for benefits through Accor’s Ownership Benefits Program, including VIP recognition and Elite membership in the ALL Accor loyalty program. The program also provides access to preferred rates at more than 5,800 Accor hotels and resorts.
A personalized residential experience
BH Group founder Isaac Toledano said the project’s scale is intended to let the Raffles approach to hospitality feel personal, with service shaped around residents’ preferences and daily lives. The development brings that service-led positioning to a small collection of private homes rather than a hotel setting.