Related Ross Buys Land for Major Mixed-Use Dev in Florida

Billionaire Stephen Ross has closed on a land acquisition to build a major, open-air mixed-use development in Wellington, a village in Palm Beach County, Fla., renowned for its equestrian scene. 

Related Ross, the developer’s namesake firm, paid $28.3 million for a 32-acre site at 10400 Stribling Way, just east of State Road 7, property records show. The planned development, called Village Landing, is set to include a 180-room hotel and over 300,000 square feet of retail, office and restaurant space, all connected by six plazas. 

“Our goal is to create a village center that complements what is already special about Wellington while adding the everyday amenities, restaurants, experiences and connections that are designed to serve the western communities of Palm Beach County,” Kevin Ryan, executive vice president of Related Ross, said in a statement.

Starwood Property Trust supplied a $29.1 million loan. Construction is expected to commence in the fall. 

The western portion of the site, spanning about 44 acres, will be turned into a private grade school, operated by ElevateED. The land sale is expected to close in October, per a representative for Related Ross. 

The combined 71-acre parcel is part of the Acme Improvement District, which was controlled by the Village of Wellington. In 1953, the Florida Legislature created the special district to manage water drainage and infrastructure development. 

Village Landing marks Related Ross’ first ground-up development outside of West Palm Beach since launching in 2024 and becoming the city’s biggest office owner. Ross’s goal is to turn West Palm Beach into a leading business hub and attract high-profile tech and finance companies. 

The West Palm Beach-based firm is building two more office buildings after securing a $772 million construction loan package last year. Two luxury condo developments are under construction. 

Julia Echikson can be reached at jechikson@commercialobserver.com.