Billionaire Steve Ross Transforms Related Southeast into Related Ross, Focused on South Florida Expansion
Billionaire Steve Ross focuses on South Florida's real estate and sports ventures
Billionaire Steve Ross has rebranded Related Southeast to Related Ross as he shifts his focus to South Florida's real estate and sports ventures. Ross, 84, will lead the newly formed firm, overseeing 2.8 million square feet of commercial properties and residential projects. This strategic move aligns with Ross's increased involvement in the Miami Dolphins and Formula One races held at his Hard Rock Stadium in Miami Gardens.
Key Takeaways
- Steve Ross rebrands Related Southeast to Related Ross, focusing on South Florida developments.
- Related Ross oversees 2.8 million sq ft of commercial properties and residential projects.
- Ross plans to increase involvement with Miami Dolphins and Formula One at Hard Rock Stadium.
- The firm is expanding in West Palm Beach, with ongoing projects like 10 CityPlace and 15 CityPlace.
- Related Ross launches condo sales with penthouses priced up to $72.5 million.
Analysis
Steve Ross's strategic pivot to South Florida through Related Ross underscores a regional economic boom post-pandemic. This shift impacts local real estate markets, especially in West Palm Beach, where demand for commercial and residential spaces is surging. Ross's increased involvement in sports ventures complements urban development, enhancing Miami's global appeal. Financially, this move could diversify Ross's portfolio, mitigating risks associated with real estate fluctuations. Long-term, Related Ross's expansion plans may solidify South Florida's position as a hub for business and entertainment, attracting international investment and talent.
Did You Know?
- Related Ross:
- A newly formed entity spun off from Related Southeast, under the leadership of billionaire Steve Ross, dedicated to managing and expanding real estate and infrastructure projects in South Florida, particularly in West Palm Beach.
- Hard Rock Stadium:
- A multipurpose stadium located in Miami Gardens, Florida, owned by Steve Ross, serving as the home of the Miami Dolphins and hosting major events such as Super Bowls, College Football Playoff National Championships, and Formula One races.
- Penthouse Pricing in South Florida:
- Highlights the luxury real estate market in the region, reflecting the demand for ultra-luxury living spaces and the exclusivity of such properties in prime locations.