Jeff Blau:
The affordability of New York City is the key to having a vibrant community. We have to keep New York affordable. But that doesn’t happen by accident.
[TITLE CARD: The Future of NEW YORK]
[TITLE CARD: Jeff Blau, CEO, Related Companies]
Jeff Blau:
My father was a contractor. I grew up working on construction sites. This is in my DNA.
[TITLE CARD: Willet Point, Queens]
Related is one of the largest owners of affordable housing in the United States. It’s really about building homes and communities...
[TITLE CARD: Marine Terrace, NY]
...for families.
[TITLE CARD: Somers Point, NY]
WF has been an...
[TITLE CARD: North Park, NY]
...incredible banking partner really since the company was founded. They have a very strong focus on affordable housing.
Kara McShane:
Over the last...
[TITLE CARD: Kara McShane, Head of Commercial Real Estate, WF Corporate & Investment Banking]
Kara McShane:
...five years, we’ve committed over $34 billion of capital—debt and equity—to develop or preserve nearly 150,000 affordable housing units across the country. We’re looking for ways to have a positive impact on our community well into the future.
Jeff Blau:
Hudson Yards was really...
[TITLE CARD: Phase One]
...an abandoned part of the city, so we had to build everything at once to create a real community.
Kara McShane:
At Hudson Yards, we have led development financings of over $8 billion, including a $1.8 billion construction financing for 50 Hudson Yards.
[TITLE CARD: Phase Two]
Jeff Blau:
Phase two will have over 4,000...
[TITLE CARD: 4000+ housing units, 40 Hudson Yards, Residential, Mixed Use]
...new housing units...
[TITLE CARD: 625 affordable, development plans subject to change]
—625 will be affordable. We’re also rebuilding the...
[TITLE CARD: Hudson Yards, Fulton & Elliott-Chelsea Houses, Manhattan]
...Fulton and Elliott-Chelsea Houses...
[TITLE CARD: Willets Point]
...and building at Willets Point. WF became a partner with us in working with the New York City Housing Authority, speaking to the city, to the state, to really help us make this happen.
Kara McShane:
These developments will deliver upwards of 8,000 new apartments to neighborhoods in desperate need of affordable homes.
Jeff Blau:
The greatest moments are when a family tells us this home has changed their lives. We’re really building for the future.
Kara McShane:
We are changing the skyline, the city and the lives of the people that live in this community. We’re working to create a New York City that will thrive well into the future.
Close with music
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The Next Horizon
Related Companies
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