The Next Horizon

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]

Wells Fargo 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, Wells Fargo 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. Wells Fargo 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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Sponsored by Wells Fargo Corporate & Investment Banking

The Next Horizon

Related Companies

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