Related bets big on California with $6.5B development

Real estate powerhouse ramping up large scale developments on the West Coast

TRD New York /
Sep.September 17, 2014 09:00 AM

California, here we come.

New York-based Related Companies — one of the biggest developers in both the city and the country — is planning a $6.5 billion project in Santa Clara, Calif. Related’s proposal — 8 million square feet of offices, retail space, hotels and apartments — will have to go through an environmental review, the Wall Street Journal reported.

Related is also planning to construct two skyscrapers in San Francisco. Ground will not be broken on those towers until 2016, according to the Wall Street Journal. In Los Angeles, the real estate company is looking to build a $2 billion mixed-use project.

The projects on the West Coast underscore Related’s intention to boost its profile outside of the New York market and tap into California’s growing demand for large scale investments.

“We’re now in a major expansion mode,” William Witte, chief of Related’s California division, told the Wall Street Journal. Until now, that division has mostly been focused on low- and moderate-income housing. “The economy is stable and growing, and appears like it will be for some time,” Witte said. [WSJ] — Claire Moses

Related Articles


Related is the latest developer to target the Rockaways

15 Hudson Yards (Credit: Related-Oxford, iStock)

First he sold a plot of land to Hudson Yards’ developers. Now he owns 7 luxury condos there

The Plaza Hotel in 1975 and models walking the runway during New York Fashion Week September 2019 (Credit: Getty Images)

Fashion Week struts its stuff at these iconic NYC locations

Related CEO Jeff Blau, Deutsche Bank CEO Christian Sewing, and Time Warner Center at 10 Columbus Circle (Credit: Getty Images and Wikipedia)

Deutsche Bank shrinks footprint at future Columbus Circle home amid global downsizing

Gym chain creator looks to part ways with Westchester County compound

1065-1075 Gerard Avenue in the Bronx 

Prana pays Related $36M in Bronx multifamily play

These are some of the most notable resi sales of the week

Clockwise from top: Related chairman Steven Ross, Mactaggart Family & Partners CEO Philip Mactaggart, a rendering of 456 Greenwich Street, and Caspi Development's Joshua Caspi (Credit: Getty Images, Mactaggart, and MHA Westchester)

Developers of bankrupt Tribeca hotel project think Related might be colluding with their landlord