Mandarin Oriental Residences to open 31-story tower in West Palm Beach

EXCLUSIVE: The seasonal Florida resident is becoming a thing of the past. High-net-worth individuals are now moving entire corporate infrastructures to West Palm Beach, necessitating a new tier of ultra-prime real estate that functions as a year-round primary residence.

“People actually want to live and move to West Palm Beach, especially in this sort of area due to favorable business and maybe political conditions. And we love it,” Great Gulf President of High-Rise Development Neil Vohrah told Fox News Digital.

“It’s not just about the billionaires themselves, but more importantly, it’s about the businesses that they bring, the companies they bring, the people they inspire and the opportunities that they create,” Cervera Real Estate principal and managing partner Alicia Cervera Lamadrid also told Fox News Digital.

“There’s a lot of wealth coming to this area,” she added. “And, of course, it has to be accommodated.”

‘THIS PLACE WILL WIN’: BUSINESS LEADERS SAY WEST PALM BEACH IS BECOMING AMERICA’S NEXT BIG BOOMTOWN

On Thursday, the real estate juggernauts announced they’re launching the Mandarin Oriental Residences in West Palm Beach — the brand’s first standalone residential property in South Florida. Located on North Flagler Drive in the growing “Billionaire Corridor,” the building will eventually stand 31 stories and house 87 residences with all the familiar luxury a Mandarin Oriental property might offer.

A north-facing aerial view of downtown West Palm Beach, Florida, at sunset. (Getty Images)

The project unveiling comes on the heels of other major brands declaring their entry into the South Florida market, including Mr. C Residences in Boca Raton, Ritz-Carlton Residences in Fort Lauderdale Beach, Delano Residences Miami and Kempinski Residences in Miami Design District.

Catering to a “Wall Street South” demographic, the Mandarin prioritizes extreme privacy, resort-style amenities and includes space for in-home staff and executive offices. Residences range from 2,100 to 6,300 square feet, and feature two- to four-bedroom layouts.

The biggest draw, according to the development and sales leads, could be that the building is just steps away from the booming business-centric downtown.

“This is not found anywhere else in the West Palm Beach area,” Vohrah said. “North End was once a quiet and largely overlooked part of the city, but it now is emerging as the city’s next defining waterfront neighborhood. West Palm Beach is also rapidly evolving into an international luxury hub, driven by wealth and migration, companies relocating, major investments in lifestyle and…