Banyan Tree Residences West Palm Beach Receives Unanimous Approval for Development Plans

Banyan Tree Residences West Palm Beach has reached a major development milestone after receiving unanimous and unconditional approval from the West Palm Beach Downtown Action Committee to utilize Transfer of Development Rights (TDRs), clearing the way for the luxury residential project to advance with its current design.

The approval, granted on August 12, allows the development to move forward at 25 stories with a 5.5 floor area ratio (FAR). The decision preserves key elements of the project's architecture and development program while providing greater certainty as the team advances toward construction and financing.

Developed by Mast Capital and Curated JCZM Development, Banyan Tree Residences West Palm Beach will introduce Banyan Tree's flagship brand to the United States for the first time. The project will feature 88 private residences in the heart of downtown West Palm Beach. Sales are exclusively led by Douglas Elliman Development Marketing, with residences starting at $1.9 million.

The approval follows approximately a year of engagement between the development team, City staff and neighborhood representatives. The project's podium and ground-level design were among the elements highlighted during the process, including landscaping intended to strengthen the building's relationship with the surrounding pedestrian environment and downtown streetscape.

"This unconditional approval and the unanimous vote by the West Palm Beach Downtown Action Committee is a landmark moment for the project," said Camilo Miguel Jr., CEO and founder of Mast Capital. "It's a powerful validation of the exceptional team, including OMA, Yabu Pushelberg, and Enea Landscape Architecture, and further proof of the caliber of design we set out to deliver from day one. As West Palm Beach continues to evolve into one of the country's most dynamic markets, we're proud to be an integral part of the city’s new chapter, and this approval gives us a clear, unobstructed path to bring that vision to life."

Banyan Tree Residences brings together an internationally recognized design team led by OMA, the architecture firm co-founded by Pritzker Prize-winning architect Rem Koolhaas. Yabu Pushelberg is designing the interiors and amenity spaces, while Enea Landscape Architecture is overseeing the project's landscaping. The development represents the first project in the neighborhood for each of the design partners.

The residential concept emphasizes connections between interior and exterior spaces, incorporating nature throughout the architecture, landscaping and amenity environments in a reflection of Banyan Tree's hospitality roots. Every residence within the building is planned as a corner unit, creating multiple exposures and further emphasizing natural light and views.

A substantial portion of the development will be dedicated to wellness and resident amenities. A full-floor wellbeing environment will incorporate a spa, meditation dome and garden, rainforest showers, cryotherapy, hammam, steam room, sauna, soaking baths and cold plunge.

Additional amenity levels will feature a fully serviced resort-style pool with private cabanas, an open-air cinema and private speakeasy lounge. Residents will also have access to a private porte cochère, indoor and outdoor fitness pavilion, Pilates studio, children's discovery garden and dedicated treatment spaces.

The extensive wellness component brings an experience historically associated with Banyan Tree's international resorts and spas into a residential setting in the United States. Banyan Tree has established a global portfolio of resorts and branded residences across more than 20 countries, with West Palm Beach now serving as the location for the flagship brand's U.S. residential debut.

Ownership will also extend beyond the West Palm Beach property through The Sanctuary Club, providing residents preferred access to Banyan Tree's international network of more than 100 hotels and resorts and over 140 spas and galleries across more than 20 countries.

The milestone comes as West Palm Beach continues its transformation into a major destination for luxury residential development. With the Downtown Action Committee's unanimous approval now secured, Banyan Tree Residences West Palm Beach can advance with its planned 25-story design, bringing one of the newest international luxury hospitality brands to enter the rapidly evolving South Florida market.

Renderings via Hayes Davidson

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Mast Capital, Curated JCZM Development and Banyan Group Reveal Banyan Tree Residences, West Palm Beach

Mast Capital and Curated JCZM Development, in collaboration with global hospitality leader Banyan Group, have launched Banyan Tree Residences West Palm Beach, marking the Group’s entry into the United States with the debut of its flagship Banyan Tree brand and its first residential offering in the market. Perfectly positioned just one block from CityPlace and two blocks from the Intracoastal Waterway, the dual-form tower is set to define a new residential paradigm in South Florida – one shaped by intentional design, a seamless integration with nature, holistic wellbeing, and meaningful connection within one of the country’s fastest-evolving real estate markets.

Since its first resort pioneering naturally luxurious and ecologically sensitive hospitality more than three decades ago, the Banyan Tree brand is renowned for its award-winning resorts and branded residences in some of the world’s most distinctive destinations —sanctuaries crafted for intimacy and infused with nature, nurturing wellbeing, meaningful connections and deep presence for purposeful travelers. Banyan Tree Residences West Palm Beach brings this same approach to residential living, introducing a private sanctuary for the senses in the heart of downtown West Palm Beach.

The project brings together a distinguished collective of global visionaries, with architecture by Pritzker Prize-winning Rem Koolhaas’ firm OMA, interiors by renowned design studio Yabu Pushelberg, and celebrated landscape architect Enzo Enea, marking the first collaboration of its kind between these four internationally acclaimed icons. The sculpted residential tower comprises 88 private residences, ranging from one- to four-bedroom layouts, along with a limited collection of penthouses. With every home conceived as a corner residence, the development’s architecture intentionally delivers multi-directional exposure from each home, allowing the residences to engage light, air, and views from multiple vantage points. Expansive sightlines unfold across the city skyline and surrounding waterways, while wraparound terraces in every residence extend living spaces outward and reinforce a seamless connection between indoors and out. Direct private elevator entry in most residences further defines an experience marked by a heightened sense of arrival discretion, and privacy.

“Introducing the first Banyan Tree in the United States represents a defining moment for both the brand and this partnership,” said Camilo Miguel Jr., Founder and CEO of Mast Capital. “West Palm Beach is emerging as a global residential destination – one defined by permanence, cultural depth, and long-term vision. This residential project reflects a highly deliberate collaboration with an unprecedented group of visionaries aligned around a singular ambition and shared pursuit of design excellence, enduring quality, and a deeply considered approach to living, developed to resonate for generations and contribute meaningfully to the future of West Palm Beach.”

Architecture and interiors are grounded in natural materials, tactile restraint, and environmental responsibility, with carbon-conscious operations and long-term sustainability principles reflecting the Group’s ethos of environmental stewardship while supporting a more considered approach to residential living.

“The United States represents an important market for Banyan Group, and American travelers have long been among our most valued guests across our resorts worldwide,” said Ho Kwon Ping, Founder and Executive Chairman of Banyan Group. “We are pleased to make our debut through Banyan Tree Residences West Palm Beach. The city’s cultural energy, strong sense of place, and growing appreciation for purposeful living align closely with our values, and we look forward to introducing our distinctive approach to branded residential living while contributing thoughtfully to its evolving residential landscape.”

Set within one of South Florida’s most walkable districts, the neighborhood places CityPlace, Royal Poinciana Plaza, Palm Beach Island, Worth Avenue, and the Intracoastal Waterway within easy reach, offering residents a rare balance between the serenity of a private retreat and the energy of the city, with access to upscale dining, a vibrant cultural scene, shopping, entertainment, and waterfront leisure at its doorstep.

“Banyan Tree Residences represents a pivotal moment for West Palm Beach, pairing an exceptional downtown address with the renowned legacy of Banyan Tree,” said Josh Simon, Co-Founder and Partner of Curated JCZM Development. “The brand’s expansion into this market underscores the city’s emergence on the world stage, offering residents an experience that is both deeply connected to place and unmistakably international in character.”

The residential amenities extend the Banyan Tree brand experience into everyday living, where wellbeing, privacy, and hospitality shape a lifestyle of quiet restoration and connection. Spanning multiple levels, the expansive amenity offering includes a private porte cochère, a fully serviced resort-style pool, curated social and recreation spaces designed to foster meaningful connection, and many more acting as a direct extension from the home. Complementing these experiences is a comprehensive wellbeing ecosystem dedicated to balance and renewal, anchored by a wellness center and spa featuring deluxe treatment rooms, cryotherapy, a hammam, and tranquil spaces for meditation, creating a daily ritual of restoration and calm.

Through The Sanctuary Club, owners will enjoy preferred access to Banyan Group’s global ecosystem of more than 100 hotels and resorts and over 140 spas and galleries across more than 20 countries, with exclusive privileges and bespoke experiences that extend the West Palm Beach lifestyle onto the global stage.

Sales are exclusively led by Douglas Elliman Development Marketing, with residences starting at $1.9 million.

Renderings via Hayes Davidson

Past PROFILE Articles about Banyan Tree Residences, West Palm Beach:

For more information about Banyan Tree Residences, West Palm Beach or to inquire about purchasing a unit please fill out the form below: