Raffles Hotels & Resorts has announced its first standalone residential development, a collection of 35 private homes in Miami’s Coconut Grove neighbourhood.
Developed with Mast Capital and BH Group, Raffles Residences Coconut Grove will be located at 2545 South Bayshore Drive, overlooking Biscayne Bay. Sales are expected to launch in autumn 2026, with prices starting at US$4.5 million.
The announcement, made on 29 October, extends the Accor-owned hospitality brand into a property designed entirely for private residential ownership, without an accompanying hotel.
A new residential direction for Raffles
Raffles entered North America with Raffles Boston, which combines hotel accommodation and residences. The Coconut Grove project takes a different approach, with private homes and a limited collection of penthouses supported by the brand’s personalised service.
Plans centre on adapting Raffles’ hospitality model to everyday residential life, with services shaped around owners’ routines and preferences.
“As a neighborhood with a rich cultural heritage, a strong sense of community, and an effortless sophistication, Coconut Grove is a natural first for our first standalone, branded residences,” said Omer Acar, Chief Executive of Raffles.
Brandon Haw leads waterfront design
Brandon Haw Architecture will lead the project’s design, with support from Accor One Living, the group’s platform for mixed-use developments and branded residential communities.
The building is planned to offer views across Biscayne Bay, Coconut Grove’s residential areas and the Miami skyline.
Mast Capital Founder and Chief Executive Camilo Miguel Jr. said the neighbourhood’s character was central to the project.
“Its history, discretion, and deep connection to place are naturally aligned with what Raffles has represented for nearly 140 years,” he said.
Owners to receive Accor travel benefits
Residential owners will have access to the Accor Ownership Benefits Program, including global VIP recognition, Elite membership in the ALL Accor loyalty programme and preferred rates across the group’s hotel portfolio.
According to the announcement, those benefits extend across more than 45 brands and over 5,800 hotels and resorts worldwide.
The developers have not announced a completion date. Further information and registration of interest are available through Raffles Residences Coconut Grove.
