Raffles Hotels & Resorts is entering the standalone residential market with a 35-home project on Biscayne Bay in Miami’s Coconut Grove. Developed with Mast Capital and BH Group, Raffles Residences Coconut Grove will offer homes with two to 4.5 bedrooms, priced from $4.5 million. Sales are scheduled to begin this fall.
Key takeaways
- The project at 2545 South Bayshore Drive marks Raffles’ first standalone residential development in its 139-year history.
- The planned building will include 35 private residences, with prices starting at $4.5 million.
- Mast Capital and BH Group are developing the project with Raffles; Douglas Elliman Development Marketing is leading sales and marketing.
The development will bring the hospitality brand’s residential offering to Coconut Grove, a neighborhood known for its established community and cultural heritage. Raffles says the project is intended to pair personalized service with a connection to the local area.
Project details and sales plans
Raffles Residences Coconut Grove is planned for 2545 South Bayshore Drive, along Biscayne Bay. The homes are described as ranging from two to 4.5 bedrooms. The project’s sales launch is expected this fall, with Douglas Elliman Development Marketing’s Matthew Chook leading the effort alongside Lourdes Alatriste, Jennifer Goldstein and Jorge Sanchez.
The partnership brings together Raffles, South Florida developers Mast Capital and BH Group. The announcement did not provide further details on the building’s design, construction schedule or completion date.
Raffles’ first standalone residential project
Raffles, part of hospitality company Accor, began with Raffles Singapore in 1887 and has since expanded internationally. The Coconut Grove project represents a new step for the brand: its first standalone residential development, rather than residences tied to a hotel property.
Raffles CEO Omer Acar described the neighborhood’s heritage and community character as a fit for the company’s first project of this kind. BH Group founder Isaac Toledano said the limited number of homes would allow the company to tailor the residential experience to owners.
Owner benefits
Residents will be eligible for Accor Ownership Benefits Program offerings, including global VIP recognition and Elite membership in Accor’s ALL loyalty and rewards program. The stated benefits also include access to preferred rates at more than 5,800 Accor hotels and resorts.
The announcement positions those hospitality-linked perks alongside the project’s residential services, though it did not detail specific on-site amenities or the scope of personalized services planned for homeowners.