Ross says adaptability key to business

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Stephen Ross, head of Related Companies, may be best poised to change tacs in the market downturn, according to the Financial Times, as he looks to expand his repertoire with international projects and a bank acquisition. The Times paints Ross as a soothsayer who saw the housing crisis in 2007, back when it was merely a glimmer in other analysts’ eyes. Today, Ross is looking beyond his beaten path. “To be a real estate developer in this market today is oxymoronic,” Ross said. “There won’t be any large development projects, particularly in the U.S., for years.” This easily-adaptable approach to business could hold Ross in good stead in the near future: Related has been named as a possible candidate to over the scandal-plagued Stuyvesant Town, while it waits for a new financial partner for the development of the Hudson Yards development.