Introduction
Stephen M. Ross is widely recognized for his transformative urban developments, particularly Hudson Yards in New York City. But the billionaire behind Related Companies is also a key player in affordable housing, using his platform and capital to reimagine inclusivity in real estate.
A Dual Focus: Luxury and Affordability
Ross’s Related Companies has long operated in both high-end and affordable housing spaces. In fact, Related is one of the largest private owners of affordable housing in the United States, with tens of thousands of subsidized units under management through its Related Affordable division.
Related Affordable: A Powerhouse Developer
Through Related Affordable, Ross has built and preserved affordable housing in over 250 communities across the country. These range from Section 8 properties to Low-Income Housing Tax Credit (LIHTC) projects, designed to ensure long-term affordability and stability for underserved populations.
A Nationwide Strategy
Ross has taken a strategic, scalable approach to affordable housing. Related’s model often includes acquiring existing affordable properties in need of renovation and preserving them for future generations. This minimizes displacement and extends the life of critical housing stock in high-demand areas like California, Florida, and New York.
Housing as Infrastructure
Ross has advocated for a more infrastructure-like approach to affordable housing investment. In interviews and public forums, he’s emphasized the economic ripple effect of housing: job creation, increased tax revenue, and community revitalization.
The Bottom Line
Stephen M. Ross’s affordable housing efforts may not dominate the headlines like Hudson Yards, but they could end up being his most enduring legacy.
At Common Walk, we focus on Attainable Housing—a resilient investment strategy that blends affordable housing with market-rate units to support both investor returns and community uplift. To learn how you can get involved, schedule a call through our Contact page.