NYC developer Stephen Ross conquering West Palm Beach

Stephen M.Ross, who as former head of Related Cos.

drove development of Time-Warner Center at Columbus Circle and Hudson Yards, is creating a new Boomtown USA far from Manhattan’s West Side — in West Palm Beach, a short bridge stroll across the Intracoastal Waterway from its wealthier cousin, Palm Beach Island.West Palm, long in the shadow of its glam neighbor, has emerged as a live-work-and play model for what Ross sees as a “new Silicon Valley.” A business-friendly political climate, sunny weather and pandemic-driven demographic patterns contributed to the surge in West Palm’s prime, waterway-fronting district.His new company, Related Ross – not affiliated with New York-based Related Cos.– is leading a development boom that includes other real estate companies.

But Ross’s private $10 billion investment is by far the largest to date.Today’s downtown/waterfront section of West Palm feels worlds removed from the pleasant but somewhat sleepy backwater it was until not long ago.Sidewalks bustle with residents, office workers and shoppers amidst the din of construction sites.The commercial towers are rapidly filling up.

In perhaps the largest lease, California-based ServiceNow launched a second headquarters in 200,000 square feet at Ross’s 10 CityPlace.Wells Fargo signed for 50,000 square feet at One Flagler, a 25-story tower on Lakeview Avenue with restaurant Milos at its base.Wells Fargo isn’t fleeing Manhattan – it just expanded to nearly 1 million square feet at Hudson Yards.

But Ross told The Post the One Flagler move is “significant because they’re moving their wealth management office from New York and St.Louis.”On the residential side, Ross reported $1 billion in condo sales in the past six months.

Apartments at Robert A.M.

Stern-designed, South Flagler House, tower, to open in 2027, are priced up to $72.5MReflecting a “wellness” and educational priority of his company and of the city of West Palm Beach, a 125,000 square-f...