The Related Companies

The Related Companies L.P.
Type Private
Industry Real estate development
Founded 1972
Founder(s) Stephen M. Ross
Headquarters New York City, United States
Website related.com

The Related Companies L.P. is a real estate developer, manager and financier. The developer of numerous high-profile projects in New York City and around the United States, Related is best known for its historic 2.8 million-square-foot $1,700,000,000 Time Warner Center on Columbus Circle. A branch of the company, Related Group of Florida, headquartered in Downtown Miami, is one of the largest developers in Miami, and has built many large scale residential high-rise apartments in Miami.[1]

Contents

History

Founded as Related Housing Companies in 1972 by Stephen M. Ross, the company began by developing government assisted housing developments. By the end of the decade more than 50 developments had been completed, worth over $250 million[2]. During the 1980s offices were opened in New York City, Miami, Chicago and California, and the company name was changed to Related due to the growth and expanded services that the company provided[3].

In the 1990s the company was re-organized into three divisions - Development, Management and Financial Services[4].

Related is a 13% stock owner of Centerline Holding Company, a real estate finance and asset management company. In August 2007 the company announced their intention to acquire the majority controlling interest of Virgin Megastores North America.[5] They have since decided to close Virgin Megastores North America.

Related is the developer of "The Century" a 140 unit condominium project in Century City, California. The Century City News likens this project to Michelangelo's David. Century City has begun calling this tower "The David."[6]

Awards

In 2007, Related received the Honor Award from the National Building Museum for their impact on the built environment, including their creation and management of affordable housing and their commitment to mixed-use urban development projects.[7]

References

  1. ^ http://www.relatedgroup.com/
  2. ^ "Related History". The Related Companies. Archived from the original on 2008-04-21. http://web.archive.org/web/20080421002454/http://www.related.com/index.asp?model=relatedHistory&view=1&slideid=1. Retrieved 2008-06-03. 
  3. ^ "Related History part 2". The Related Companies. Archived from the original on 2008-06-07. http://web.archive.org/web/20080607035347/http://www.related.com/index.asp?model=relatedHistory&view=1&slideid=2. Retrieved 2008-06-03. 
  4. ^ "Related History part 3". The Related Companies. Archived from the original on 2008-06-07. http://web.archive.org/web/20080607035350/http://www.related.com/index.asp?model=relatedHistory&view=1&slideid=3. Retrieved 2008-06-03. 
  5. ^ "Related Companies to Acquire Virgin Entertainment Group Virgin Megastores North America". PR Newswire. 2007-08-17. http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/08-17-2007/0004647544&EDATE=. Retrieved 2008-03-28. 
  6. ^ "The Century is the American Version of the Statue of David=". Century City News. 2010-10-18. http://www.centurycitynews.com/article/Columnists/Michael_Douglas_Carlin/The_Century_is_the_American_Version_of_the_Statue_of_David/75070=. Retrieved 2010-10-18. 
  7. ^ "A Salute to Related". National Building Museum. http://www.nbm.org/support-us/awards_honors/honor-award/related.html. 

External links