Raffles Hotels & Resorts is making its first standalone residential debut in Coconut Grove, with Raffles Residences Coconut Grove planned for 2545 South Bayshore Drive. The project will bring 35 private residences to one of Miami’s most established waterfront neighborhoods, with prices starting at $4.5 million.
The development is being led by Mast Capital and BH Group in partnership with the Accor hospitality brand. The announcement is notable because Raffles has previously entered the North American residential market through a hotel-and-residences model, while the Coconut Grove project is positioned as a fully standalone private residential tower. That makes it a meaningful expansion of the brand’s real estate strategy in South Florida.
Sales are expected to launch this fall, and the project will be marketed by Douglas Elliman Development Marketing. The residential offering is limited to two- to 4.5-bedroom homes, with a penthouse collection also planned, according to the development team.
| Project Detail | Information |
|---|---|
| Project Name | Raffles Residences Coconut Grove |
| Address | 2545 South Bayshore Drive, Coconut Grove |
| Developer | Mast Capital and BH Group |
| Brand Partner | Raffles / Accor |
| Architect | Brandon Haw Architecture |
| Number of Residences | 35 |
| Starting Price | $4.5 million |
| Residence Mix | Two- to 4.5-bedroom homes |
| Sales Team | Douglas Elliman Development Marketing |
Raffles expands into standalone residential development
Raffles Residences Coconut Grove marks a new chapter for the luxury hospitality brand in Miami. The company’s residential presence in North America had been associated with Raffles Boston, which combined hotel and condominium components. In Coconut Grove, however, the brand is backing a project dedicated exclusively to private ownership.
That distinction is important in a market where branded residences have become increasingly common, but standalone branded homes remain comparatively limited. In Coconut Grove, the project positions Raffles within a neighborhood better known for its low-rise character, bayfront views and established residential fabric than for dense high-rise development.
The project team says Accor One Living will support the development, design and operation of the community. Owners will also have access to the Accor Ownership Benefits Program, which includes global VIP recognition, Elite membership in the ALL Accor loyalty program and preferred rates at participating Accor hotels and resorts, according to the announcement.
What is planned at 2545 South Bayshore Drive
The announced plan calls for just 35 residences, a relatively small inventory for a project carrying a global luxury hospitality brand. The homes are expected to range from two to 4.5 bedrooms, with a limited penthouse selection included in the offering.
While the development announcement does not disclose the full amenity roster, the project materials emphasize service and hospitality rather than a long list of standard residential features. BH Group founder Isaac Toledano said the concept is intended to translate Raffles’ hospitality approach into a more personal residential setting.
Starting prices begin at $4.5 million, placing the project squarely in Miami’s upper-end condominium and branded residence segment. That positioning aligns with Coconut Grove’s continued draw for affluent buyers seeking waterfront access, neighborhood identity and a lower-scale setting than some of Miami’s more high-rise-heavy submarkets.
Brandon Haw Architecture to design the building
Brandon Haw Architecture is leading the design of the project. Haw founded his practice in 2014 after 26 years at Foster + Partners, where he directed the firm’s U.S. operations, according to the project announcement.
The renderings released with the announcement show a curving tower form with deep balconies, tropical landscaping and terraces oriented toward Biscayne Bay and the marina. The project’s visual presentation reflects the kind of indoor-outdoor emphasis that has become common in South Florida luxury development, especially in bayfront locations.
Design details remain limited publicly, but the available images suggest a building intended to maximize views and outdoor living space. In Coconut Grove, where older zoning patterns and neighborhood scrutiny have historically shaped development, architectural massing and site planning are likely to remain closely watched as the project advances.
Coconut Grove remains a competitive luxury address
Coconut Grove has long been viewed as one of Miami’s most established residential enclaves, with a mix of waterfront estates, boutique condominiums, marina access and village-style retail and dining. In recent years, the neighborhood has also drawn renewed attention from developers targeting buyers who want luxury amenities without the scale of Brickell or Downtown Miami.
Raffles Residences Coconut Grove adds another branded offering to that broader market narrative. The project enters a part of the city where new residential inventory tends to be more selective and where bayfront land carries a premium. That combination often makes small-format luxury developments especially notable, even before sales begin.
For South Florida’s broader residential market, the announcement underscores continued interest from international hospitality brands in branded living concepts. Miami has seen a growing number of such projects in recent years, but the Coconut Grove development is distinct for its size, its standalone structure and its location in a neighborhood that has historically prioritized residential character over large-scale vertical growth.
What happens next
The next milestone is the anticipated sales launch this fall. Douglas Elliman Development Marketing is handling the exclusive sales effort, led by sales director Matthew Chook, along with Lourdes Alatriste, Jennifer Goldstein and Jorge Sanchez.
At this stage, no completion date has been publicly released, and the developers have not disclosed a formal construction timeline in the announcement reviewed by PROFILEmiami. No permit or groundbreaking update was included in the source material.
For now, the project is best understood as an early-stage branded residential launch rather than a fully underway construction story. Still, the combination of a small unit count, a prime bayfront address and a globally recognized hospitality brand makes it one of the more closely watched luxury announcements in Coconut Grove this year.
Frequently asked questions
Where is Raffles Residences Coconut Grove located?
The project is planned for 2545 South Bayshore Drive in Coconut Grove, overlooking Biscayne Bay.
Who is developing the project?
Mast Capital and BH Group are developing the residences in partnership with the Accor hospitality brand.
How many residences are planned?
The development is planned as a collection of 35 private residences.
What is the starting price?
The announced starting price is $4.5 million.
Who is designing the building?
Brandon Haw Architecture is the project architect.
