From a Ten Thousand Dollar Loan to Seventy Billion Dollars in Real Estate Assets

Countries & Cities · Published 15 October 2026 Swipe more like this →

In short: Stephen M. Ross founded Related Companies in 1972 with a modest loan from his mother. Today, the firm stands as a titan of urban development, managing over seventy billion dollars in assets while simultaneously serving as the largest private owner of affordable housing across the United States.

Related Companies began as Related Housing Companies, initially focusing on subsidized apartments for low and moderate-income residents. By the 1980s, the firm shifted its strategy toward high-profile, mixed-use developments. This evolution led to iconic projects like the Time Warner Center, which opened in the early 2000s and significantly impacted local retail markets. The company's reach now extends across major American cities including New York, Chicago, Boston, Los Angeles, and San Francisco, as well as international locations like London.

The firm's portfolio is diverse, encompassing residential, retail, office, and hospitality spaces in high-barrier-to-entry markets. Notable recent ventures include the Hudson Yards Redevelopment Project in Manhattan and The Grand LA, a massive development designed by Frank Gehry. Beyond traditional real estate, Related has expanded into infrastructure and technology. In 2021, it co-founded energyRe, a clean energy firm, and in 2025, it launched Related Digital to develop data centers, including a significant project in Cheyenne, Wyoming.

Leadership at the firm has seen strategic transitions. In 2012, Ross became chairman while Jeff Blau took on the role of CEO. By 2024, Ross announced he would step down as chairman to pursue other ventures, remaining as nonexecutive chairman while a leadership team including Blau, Bruce Beal Jr., and Kenneth Wong manages operations. Despite its growth, the company has faced legal challenges, including a 2014 lawsuit regarding accessibility compliance, and has navigated complex partnerships, such as a multi-year effort to develop a casino resort that concluded in 2025.

Today, Related continues to shape urban landscapes through projects like the Hudson Tunnel and large-scale affordable housing initiatives such as Willets Point. Its recent foray into quantum computing infrastructure with the Quantum Shore Chicago project highlights a continued pivot toward specialized, high-tech real estate. By balancing massive commercial developments with its roots in affordable housing, the firm maintains a unique position in the American real estate sector.

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