{"id":1004720854,"date":"2024-07-12T03:14:03","date_gmt":"2024-07-12T11:14:03","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004720854"},"modified":"2025-02-24T01:58:09","modified_gmt":"2025-02-24T09:58:09","slug":"related-cos-ross-steps-down-launches-new-firm","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/related-cos-ross-steps-down-launches-new-firm\/","title":{"rendered":"Related Cos.\u2019 Ross Steps Down, Launches New Firm"},"content":{"rendered":"\n<p>Stephen Ross, the founder &amp; chairman of the Related Cos. LP., is stepping down after spending 52 years leading one of the largest commercial real estate development firms in the country.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"620\" data-attachment-id=\"1004721025\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/related-cos-ross-steps-down-launches-new-firm\/50_hudson_yard_ross\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/50_Hudson_Yard_Ross.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"50_Hudson_Yard_Ross\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Stephen Ross cuts the ribbon at the 50 Hudson Yards grand opening event. Image courtesy of Hudson Yards&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/50_Hudson_Yard_Ross.jpg?w=800\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/50_Hudson_Yard_Ross.jpg\" alt=\"Stephen Ross cuts the ribbon at the 50 Hudson Yards grand opening event\" class=\"wp-image-1004721025\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/50_Hudson_Yard_Ross.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/50_Hudson_Yard_Ross.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/50_Hudson_Yard_Ross.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><figcaption class=\"wp-element-caption\">Stephen Ross cuts the ribbon at the 50 Hudson Yards grand opening event.<em> Image courtesy of Hudson Yards<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>According to <em>The Wall Street Journal, <\/em>the 84-year-old Ross will remain as Related\u2019s non-executive chairman and will retain his majority ownership stake in the private company. As of year-end 2023, Related had more than $60 billion in assets across the office, multifamily, retail and hospitality sectors.<\/p>\n\n\n\n<p>Reporting from <em>The Wall Street Journal<\/em> states that Ross is set to be replaced by CEO Jeff Blau and COO Kenneth Wong.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-the-mogul-s-next-moves\">The mogul\u2019s next moves<\/h2>\n\n\n\n<p>Following his departure, Ross, a Palm Beach, Fla. resident, intends to rebrand, relaunch and lead Related Southeast, the firm\u2019s South Florida-focused investment and development subsidiary as Related Ross. Related Southeast is currently the largest office owner in downtown West Palm Beach, holding more than 3 million square feet. Properties owned and developed by the company include One Flagler, <a href=\"https:\/\/www.commercialsearch.com\/news\/newday-usa-teases-200-ksf-relocation-to-west-palm-beach\/\">360 Rosemary<\/a> and <a href=\"https:\/\/www.commercialsearch.com\/news\/related-cos-pays-175m-for-west-palm-beach-office-asset\/\">CityPlace Tower<\/a>.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/cre-outlook-remains-stable-despite-headwinds\/\">CRE Outlook Remains Stable Despite Headwinds<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p>Ross, who also owns the Miami Dolphins, was quoted by <em>WSJ <\/em>as being open to joint ventures between Related and Related Ross.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-related-s-recent-works\">Related\u2019s recent works<\/h2>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignleft size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004602413\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/related-cos-plans-austin-office-projects\/901-south-congress-1\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/09\/901-South-Congress-1.jpg\" data-orig-size=\"1200,776\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"901-South-Congress-1\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;901 South Congress &lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/09\/901-South-Congress-1.jpg?w=1024\" height=\"662\" width=\"1024\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/09\/901-South-Congress-1.jpg?w=1024\" alt=\"901 South Congress\" class=\"wp-image-1004602413\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/09\/901-South-Congress-1.jpg 1200w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/09\/901-South-Congress-1.jpg?resize=300,194 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/09\/901-South-Congress-1.jpg?resize=768,497 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/09\/901-South-Congress-1.jpg?resize=1024,662 1024w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">901 South Congress. <em>Image courtesy of The Related Cos.<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Ross, a tax attorney by trade, founded Related in 1972 as Related Housing Cos., which was geared primarily toward developing affordable housing. In 1979, Ross and Miami-based business partner Jorge P\u00e9rez established the separate Related Group, growing into the development of commercial properties, hotels and luxury condominiums. The associates parted ways in 2022.<\/p>\n\n\n\n<p>Ross\u2019 firm changed its development focuses in the 1980s to office spaces, luxury condominiums and retail spaces.<\/p>\n\n\n\n<p>Notable recent projects are primarily on the mixed-use front, and include Manhattan\u2019s <a href=\"https:\/\/www.commercialsearch.com\/news\/hsbc-opens-265-ksf-hudson-yards-hq\/\">Hudson Yards<\/a> and Deutsche Bank Center, Miami\u2019s <a href=\"https:\/\/www.commercialsearch.com\/news\/hm-tries-on-new-anchor-lease-at-miami-shopping-mall\/\">One Brickell City Centre<\/a> and <a href=\"https:\/\/www.commercialsearch.com\/news\/related-cos-plans-austin-office-projects\/\">901 South Congress<\/a> in Austin, Texas. <\/p>\n\n\n\n<p>Earlier this year, the firm announced the planned swapping of industrial space from office at <a href=\"https:\/\/www.commercialsearch.com\/news\/8b-related-cos-project-swaps-4-msf-of-office-space-for-industrial\/\">Related Santa Clara<\/a>, an $8 billion, 9.2 million-square-foot mixed-use project taking shape in Silicon Valley.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The founder and former chairman intends to lead a separate entity focused on South Florida. <\/p>\n","protected":false},"author":3012,"featured_media":1004721025,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21808,1492,21752,23891,21742,21747,32781],"tags":[32952,52441,33090],"class_list":["post-1004720854","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-featured","category-miami","category-mixed-use","category-national","category-latest","category-office","category-southeast","tag-related-companies","tag-related-southeast","tag-the-related-group"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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