Related Companies will dazzle OPIE.A leader in the real estate industry for over 40 years.Related Companies is one of the leading developers in the U.S.A.Real estate experience of over 22 million square feet (2,000,000 square meters) of commercial real estate properties including 250,000 residential units.Related’s Time Warner Center is one of New York City’s most well known mixed use destination properties.Developer of Bronx Terminal Market and Brooklyn’s Gateway Center, two of New York City’s largest retail properties.Designated as co-developer of Moynihan Station, New York City’s rail transit hub of the futureRelated Companies is the most prominent privately-owned real estate firm in the United States.
Formed in 1972, Related is a fully-integrated, highly diversified industry leader headquartered in New York City, and with 9 offices across the U.S.A., Related’s real estate portfolio is made up of best-in-class residential, retail, office, mixed-use and affordable properties. Related has developed such preeminent mixed-use projects as Time Warner Center in New York City and CityPlace in West Palm Beach.
Related has been selected by New York City to develop some of its iconic projects including: Moynihan Station, Willets Points, Hunter’s Point and Hudson Yards, making Related New York City’s most significant real estate developer.
Now, as a surge in demand from wealthy Chinese for the green cards for cash offer is threatening o overwhelm the program, EB-5 money from China is behind what's being billed as the largest private real estate development in the history of the United States and the largest development in New York City since Rockefeller Center -Related Companies' Hudson Yards.
The 28-acre site on Manhattan West Side between 34th and 30th Streets and 10th Avenue and the West Side Highway, will include 17 million square feet of commercial and residential space, more than 100 shops, 20 restaurants, 5,000 residences, 14 acres of public open space, a public school and a luxury hotel. Related says it will draw more than 24 million visitors a year and create more than 23,000 construction jobs.
The EB-5 visa program,created by Congress in 1990 to help stimulate the economy by creating jobs and opportunity for foreign investment, is limited to 10,000 visas per year.
Accordingto the US Citizenship and Immigration Service (USCIS), which administers the EB-5 program, approximately 90 percent of EB-5 visas come through regional centers. Last year, 90 percent of them were issued to Chinese nationals.Hudson Yards is a partnership between New York University's Center for Urban Scienceand Progress, Related Companies and Oxford Properties. The project will incorporate the High Line phase, which will be finished in September this year.