Raffles Hotels & Resorts has announced Raffles Residences Coconut Grove, a 35-unit waterfront condominium project planned for 2545 South Bayshore Drive in Miami’s Coconut Grove neighborhood. Developed by Mast Capital and BH Group, the project will be the hospitality brand’s first standalone residential development, meaning it will offer private residences without an attached hotel component.
The project is planned along Biscayne Bay and will include a limited collection of two- to four-and-a-half-bedroom residences, along with a selection of penthouses. Prices are expected to start at $4.5 million, and sales are scheduled to launch in fall 2026.
The announcement adds another branded-luxury project to the South Florida pipeline at a time when Coconut Grove continues to attract high-end residential development tied to its waterfront location, established neighborhood character, and limited inventory of bayfront sites.
| Project Detail | Information |
|---|---|
| Project Name | Raffles Residences Coconut Grove |
| Address | 2545 South Bayshore Drive, Coconut Grove, Miami |
| Developer | Mast Capital and BH Group |
| Brand | Raffles Hotels & Resorts, part of Accor |
| Unit Count | 35 residences |
| Residence Types | Two- to four-and-a-half-bedroom residences, plus penthouses |
| Starting Price | From $4.5 million |
| Architecture | Brandon Haw Architecture; Cohen Freedman Encinosa as architect of record |
| Sales Launch | Expected in fall 2026 |
| Construction Timeline | Construction start and completion dates have not been disclosed |
Raffles Expands Its Residential Brand Into Coconut Grove
The Coconut Grove project represents an important step in Raffles’ residential expansion because it will be the brand’s first property devoted entirely to private ownership. Raffles previously entered North American residential development through a mixed-use hotel and residential project in Boston, but the Miami condominium will operate as a standalone residential building.
According to the project team, the development is intended to bring Raffles’ hospitality model into a private residential setting, with services and amenities adapted for condominium ownership rather than hotel guests. The company’s signature Butler Service will be part of the residential program.
For Coconut Grove, the announcement is notable because the neighborhood has long been associated with low-rise residential enclaves, mature tree canopies, historic homes, and a waterfront setting that continues to support some of Miami’s highest-end condominium proposals.
Waterfront Site on South Bayshore Drive
The project is planned for a waterfront parcel along Biscayne Bay, with views toward the water, the surrounding Coconut Grove neighborhood, and the Miami skyline. South Bayshore Drive is one of the Grove’s most established waterfront corridors, where bayfront sites are limited and closely tied to the area’s residential identity.
Developers describe the building as a sculpted waterfront structure designed to respond to its location and maximize views. The site sits within a neighborhood known for its mix of residential estates, low- and mid-rise buildings, and a more subdued scale than many other parts of central Miami.
Coconut Grove’s appeal to luxury buyers has often centered on that contrast: a waterfront location within Miami-Dade County, but with a more intimate urban environment than Brickell or Downtown Miami. The announcement of a 35-unit project reinforces the limited-supply character of the neighborhood’s premium bayfront market.
Design Team and Building Concept
The project’s architecture is being handled by Brandon Haw Architecture, with Cohen Freedman Encinosa serving as architect of record. The design images released with the announcement show a contemporary residential form oriented toward the water, with terraces and framed views that emphasize the bayfront setting.
While the final construction schedule has not been disclosed, the development team has positioned the project as a low-density residential building. That approach is consistent with the brand’s emphasis on privacy, individualized service, and a smaller ownership count that can support a more tailored hospitality model.
Accor One Living, the hospitality group’s branded-residences platform, will support the project’s development, design, and operations. The platform is intended to coordinate branded residential properties under Accor’s global hotel and lifestyle brands.
Residences, Service Model, and Ownership Benefits
Raffles Residences Coconut Grove will include a limited collection of two- to four-and-a-half-bedroom homes, along with penthouses. The small footprint is part of the project’s broader positioning as an intimate residential building rather than a larger condominium tower.
The hospitality component will extend beyond branding. The project is expected to include Raffles’ Butler Service, which the company says will allow staff to become familiar with homeowners’ preferences and daily routines. In branded residential projects, that type of service is often used to distinguish the ownership experience from conventional condominiums.
Residents will also be eligible for the Accor Ownership Benefits Program, which includes VIP recognition, Elite membership in the ALL Accor loyalty program, and preferred rates at more than 5,800 hotels and resorts across over 45 brands worldwide.
Pricing and Sales Timeline
Sales for Raffles Residences Coconut Grove are expected to begin in fall 2026, with starting prices from $4.5 million. No firm construction start date or delivery timeline has been released.
That leaves the project in an announcement stage rather than an active construction phase. For buyers and brokers watching the luxury pipeline in Miami-Dade County, the key next milestone will be the sales launch and the release of more detailed floor plans, pricing, and building specifications.
The current information does not include public details on unit sizes, amenity programming, parking, or the exact height of the building. Those details are likely to emerge as the project moves closer to market.
Why the Project Matters for Coconut Grove
Raffles Residences Coconut Grove adds to the ongoing evolution of one of Miami’s oldest neighborhoods, where waterfront land remains scarce and new development is typically smaller in scale than in nearby urban cores. That scarcity has helped shape the market for ultra-luxury residential projects in the Grove, particularly those tied to bayfront locations.
The project also underscores the continued appeal of branded residences in South Florida, where luxury buyers have shown interest in properties that combine private ownership with hotel-style service. In Coconut Grove, that formula is being adapted to a one-building, 35-unit project rather than a larger mixed-use complex.
For the neighborhood, the proposal is another sign that developers continue to view Coconut Grove as a market with enough prestige and supply constraints to support high-priced waterfront condominiums. For Raffles, it is the brand’s first step into a fully residential, standalone format in North America.
Frequently Asked Questions
Where will Raffles Residences Coconut Grove be located?
The project is planned for 2545 South Bayshore Drive in Miami’s Coconut Grove neighborhood, on a waterfront site along Biscayne Bay.
How many residences are planned?
The development will include 35 residences, including a selection of penthouses.
Who is developing the project?
Mast Capital and BH Group are developing the project.
Who is designing the building?
Brandon Haw Architecture is the design architect, and Cohen Freedman Encinosa is the architect of record.
When will sales begin?
Sales are expected to launch in fall 2026. A construction start date and completion schedule have not been disclosed.
