Businesseconomic Development News

"The Surging Growth of Palm Beach's Neighbor Amid Influx of Billionaire Real Estate Investments"

West Palm Beach, once considered the poor neighbor of Palm Beach, has experienced significant economic development, attracting wealthy transplants and businesses, partly due to real estate mogul Stephen Ross and The Related Companies. The area has seen a surge in luxury condo projects, new businesses, and a growing population. However, soaring home prices and gentrification are squeezing middle- and lower-class residents, prompting efforts to address affordable housing and equitable development.