For many years, US cities like New York and Miami have had a firm grip on branded residences, as developers leaned heavily towards these proven hubs as well as destinations such as Aspen for the high-net-worth ski crowd.
However, the picture is now starting to change, and demand is now spreading into emerging secondary and tertiary markets - an evolution many see as the next phase of branded residences in the US - as pricing power is now being proven in markets that until semi-recently wouldn’t have been top of mind.
According to Savills, the global supply of branded residences is on track to roughly double within the next seven years, with North America still the largest and most active region. What is important to note, however, is that the next chapter of US growth is not confined to the usual suspects.
But what are these markets that are next on the radar?
Tampa and St. Petersburg, Florida
For those looking beyond the obvious spots in Florida, the Tampa and St Peterburg areas. While Miami has been the belle of the ball over the past few years, another cluster of branded residences have been building up, with projects ranging from the Tampa EDITION at Water Street to the Ritz-Carlton Residences along Bayshore, and the Waldorf Astoria tower in St. Petersburg which broke regional records with a $27 million penthouse. This is as wealth migration into the Gulf Coast coupled with large-scale placemaking efforts in downtown Tampa, has given confidence to ultra-high net worth buyers. Historically, this metro priced at a steep discount to Miami. However, today, waterfront scarcity plus brand assurance is pushing pricing into competitive territory with Florida’s east coast.
Austin and Texas Hill Country
Texas, meanwhile, has emerged as a proving ground for non-hotel branded residences. In Austin, Four Seasons Private Residences Lake Austin sold out 188 homes before construction began, anchored by a 145-acre campus, capitalising on domestic UHNW demand from Austin’s booming tech and finance sectors. Zooming out of Austin, Waldorf Astoria’s plans for residences in Fredericksburg underscores the state’s growth story.
“There is some attractiveness in terms of having new branded residences in certain markets as more people and businesses move from north to south, and we’re also seeing pieces of development in Austin,” notes Barry Landsberg, principal at Landsberg Residential Consulting.
Phoenix & Scottsdale, Arizona
Looking west, Phoenix and Scottsdale have caught the eye of the likes of Ritz-Carlton and Fendi with their Residences Paradise Valley and Private Residences respectively, within the Palmeraie development. This is as land and construction costs remain more favourable than their coastal peers, and developers create products around established developments.
Montana and Utah
And don’t forget your skis. Because joining destinations like Aspen and Vail is Deer Valley. Grand Hyatt Deer Valley opened in late 2024 with 55 branded residences, while Four Seasons announced plans for a 123-home resort and residences as part of the East Village expansion which is anchored by a Four Seasons and is adding retail, ski lifts and year-round infrastructure. And Montage Big Sky’s 39 branded residences in Montana reportedly sold out for a combined value of around $370 million, with prices from $5 million to $18 million.
And a lack of proximity to buzz isn’t a deal breaker, with Amangiri in Southern Utah proving that ultra-seclusion is investable, with Aman’s private residences trading for $5 million to $12.5 million for land alone, with construction costs additional. While such projects are niche, they demonstrate the premium that can be captured when isolation itself becomes the amenity.
Nashville
Nashville, Tennessee has also emerged as an unexpected cultural magnet. The Four Seasons Private Residences Nashville set a new city record in 2024, when a penthouse sold for $15 million, the transaction further proof that affluent buyers will pay for hotel-like services in vibrant cultural markets, even without ocean views or ski slopes.
The big picture
For branded resi developers, the lesson is clear. The US branded residence story is no longer limited to Miami or Manhattan. It is being rewritten in destinations where service, lifestyle and community programming have become as important as geography, and the strongest returns may come from leaning into the unexpected.
As the branded residences sector continues to evolve, growth is increasingly about where and how to build, not simply if a market can support a global flag. The most successful projects outside traditional gateways have a lifestyle hook, a credible operator or brand ecosystem to anchor services, as well as a scale of amenities and community programming.