Building Inclusive Cities Nearly 50 years after Stephen M. Ross founded Related Companies, we are proud of what we have accomplished, even as we are humble in the knowledge we must do more. Building More Inclusive Cities Affordable and Workforce Housing From its founding, Related has been a leader in the development, construction, preservation, and renovation of rental homes for individuals and families who struggle to pay market rates. Investing in Action As a company and as individuals, Related, its leadership and employees have launched numerous initiatives to foster a more equitable and inclusive society through focused action. Workforce Development Related engages in a wide variety of efforts to create a more inclusive and diverse pool of businesses and workers with whom we partner and collaborate. Supporting Small Businesses By offering first-opportunity contracts to local startups, promoting community hiring and participating in mentorship programs, we are committed to empowering tomorrow's business leaders and supporting advancement through the growth of successful small businesses. Community Building Related operates or supports a broad range of artistic, cultural, technological and social service programs that strengthen our neighborhoods and communities that we serve. Employment and Leadership Related has long sought to develop a workforce that reflects the diversity of our society. Affordable and Workforce Housing Providing high quality, affordable housing to America’s most economically vulnerable citizens 80,000+ individuals live in our 50,000 affordable-housing apartments, a portfolio that extends across 25 states and the District of Columbia. Our longstanding commitment to providing and preserving quality affordable housing to America’s most economically vulnerable citizens is best demonstrated by the fact that we have never exited an affordable housing program or converted an affordable housing site to market rate. Affordable and Workforce Housing Affordable and Workforce Housing 75%+ of Related’s rental developments include a traditional affordable housing component Households that qualify for affordable housing earn 60% or less of “area median income” (AMI). Affordable and Workforce Housing Affordable and Workforce Housing 2/3 of the rental apartments that Related owns and operates serve affordable households The families who live in our affordable housing earn an average annual income of $20,000. More than 60% of those families identify as Black, Hispanic or Latinx, Asian or Native American. Affordable and Workforce Housing Affordable and Workforce Housing 5,000 units serve the workforce Related owns one of the nation’s larger workforce housing portfolios with units that have been built, priced and regulated to serve teachers, nurses, emergency responders and other households earning 60% to 130% of AMI. Affordable and Workforce Housing Working with community insiders to best serve our residents Related has partnered with more than two dozen nonprofits to address the needs of the local community in nearly 70 different affordable housing developments, with services ranging from after-school activities to financial skills workshops to health and wellness programs. Our efforts to weave our properties into the fabric of their communities is organically done when we team up with community insiders. One powerful example is the seven joint venture projects Related California has undertaken with churches in Black communities over the past 15 years, creating nearly 500 affordable family and senior units. Investing in Action Investing in Action Related Affordable Foundation The Related Affordable Foundation (RAF) is a tax-exempt 501(c)3 organization committed to enriching the lives of affordable housing residents and breaking the generational cycle of poverty. Since its inception, the foundation has distributed over $3.5 million in grant awards. Investing in Action Investing in Action Related Affordable Foundation The Related Affordable Foundation partnered with nonprofit After School Matters (ASM) to create a mural project at Parkway Gardens in Chicago, IL. Teen residents developed community leadership skills and painted a vibrant public artwork for their neighborhood. Investing in Action Investing in Action Related Affordable Foundation The Related Affordable Foundation partnered with the YMCA of South Florida to ensure the health and wellness of our residents and address their needs through the Path to Health Program (YPHP). Watch The Video Investing in Action Investing in Action Related Affordable Foundation The Related Affordable Foundation partnered with nonprofit KABOOM! to address playspace inequity by building a new playground in Austin, TX and a multi-sport court in Anderson, SC. Watch the video Investing in Action RISE Established in 2015, the Ross Initiative in Sports for Equality (RISE) is a national nonprofit focused on eliminating racial discrimination, championing social justice and improving race relations in sports. Since its founding, Related Founder and Chairman Stephen Ross has given more than $30 million to the cause. Investing in Action WRI Ross Center for Sustainable Cities Creating sustainable cities and supporting environmental justice has been a focus for Related and its founder for nearly half a century. With the understanding that climate change disproportionately affects socio-economically vulnerable populations, Stephen M. Ross announced a $30.5 million contribution to the World Resources Institute in 2014 to establish the WRI Ross Center for Sustainable Cities, as well as the Prize for Cities in 2018. Investing in Action Related Southeast community initiatives Like many of Related’s regional divisions, Related Southeast takes a grassroots approach to community investment through numerous annual donations to and sponsorships of local causes. Some of these organizations include the Homeless Coalition, the Storm of 1928 Memorial Park Coalition and the West Palm Beach Center for Arts & Technology. HIRE 360 Providing guidance, training and development opportunities Co-founded by Related Midwest, Hire360 is a cross-industry partnership designed to create an ecosystem that develops sustainable careers and business ventures for underrepresented individuals by encouraging leading prime businesses to invest, hire, and empower an inclusive workforce and promote small business development. Related Midwest, headquartered in Chicago, has been a leader in community hiring, small-business development and mentorship of minority and women-owned Business Enterprises (M/WBE), as well as diversity and inclusion for over 30 years. Hiring Networks Through a unique public-private partnership, we have brought together multiple human service agencies, close to a dozen local nonprofits, and labor advocates to create employment opportunities for populations that face barriers Related founded the Hudson Yards Hiring Network in 2018 to ensure that as many of the operational jobs as possible being created by our new Hudson Yards development would be made available to those NYC residents who might experience additional barriers to employment. The Hiring Network is a strong representation of a private-public partnership, engaging and coordinating the efforts of multiple NYC agencies and local nonprofits that serve the needs of jobseekers that face employment barriers within the underserved communities of our city. HIRE 360 HIRE 360 Community Inclusion Council The Community Inclusion Council (CIC), a first-of- its-kind organization, was founded with a council of trusted community partners with the mission to guide our business diversity, equity and inclusion efforts and provide feedback on our practices. HIRE 360 HIRE 360 Related Midwest Community Commitment Ecosystem This collection of interdependent programs, resources, partners and initiatives works to hold our industry accountable, and strengthen communities. HIRE 360 HIRE 360 Equity, Diversity and Inclusion Directive EDID is an internal Related Midwest program that outlines policies required across all our projects with the core mission to: create equity, diversity and inclusion programs; support and promote the development of sustainable careers and business ventures for underrepresented individuals and companies; and provide mentorship and tools to support small businesses. Public School Outreach Connecting curious minds to new opportunities With the goal of expanding our job candidate pool, Related has sought to increase exposure to the real estate industry. At the forefront of these efforts is Related Beal, which since 2017 has established a variety of programs in partnership with Boston Public Schools, including multiple summer internships, career workshops, construction site tours, job shadow programs and more. In addition, Related Beal employees have participated in curriculum planning for a new engineering curriculum at Dearborn STEM Academy. Small Business Development Small Business Development $250m+ in contracts awarded to businesses that are owned by underrepresented groups including women. Small Business Development Small Business Development 450+ community residents hired across 25 projects Small Business Development Small Business Development 25 small businesses across Chicago have participated in the program that provides mentorship, ongoing support and training Small Business Development Small Business Development 15 first-opportunity contracts for local startups Small Business Development Small Business Development 15+ small businesses have received loan funds that offer a path to obtaining low-interest loans, secured through funds raised by industry leaders Candidate Pool Expansion Shaping a more diverse real estate industry For nearly 10 years, Related has supported leading community nonprofit organizations, universities and other nonprofits to nurture students from populations traditionally underrepresented in the real estate industry. The goal is to increase the pipeline of available candidates from these communities for jobs in all areas of commercial and residential real estate. Community Building Social service enhancements Related is proud to partner with more than two dozen different local service organizations to provide residents across the country with after-school programs, art engagement and various services focused on health and wellness, financial skills development and aging in place with dignity. In aggregate, we invest $4 million per year for these social-service enhancements. Community Building Community Building Neighborhood investment coalitions Related is a founding member of the West Side Community Fund (WSCF) in New York City, a consortium of more than 20 leading businesses and firms that help deliver improved or expanded services to residents in Manhattan’s Chelsea and Hudson Yards neighborhoods. Primary beneficiaries include low-income residents, youth, and the homeless. In its first year, the WSCF awarded more than $440,000 in grants to more than 50 separate organizations or projects, focusing mainly on health and wellness, arts, food assistance, education, job training, and legal advocacy. Community Building Community Building Neighborhood investment coalitions Primary beneficiaries of the West Side Community Fund include low-income residents, youth and the homeless. Community Building Community Building Neighborhood investment coalitions In its first year, the WSCF awarded $440,000 in grants to more than 50 separate organizations or projects, focusing mainly on health and wellness, arts, food assistance, education, job training and legal advocacy. Community Building Striving for internet equality To help bridge the digital divide, Related has partnered with Starry Internet to provide an ultra-low-cost, high-quality broadband option to residents. Through it, more than 4,000 of Related’s affordable housing residents have access to a high-speed, uncapped broadband service for $15 per month or less, which includes equipment, installation and 24/7 customer care. Crucially, the program does not require long-term contracts, credit checks or other eligibility requirements or any other traditional barriers to adoption. Community Building Community Building Arts, culture and conversation Related’s commitment to community engagement through arts and culture includes a focus on telling the diverse stories of our communities. Some of those examples include the sponsorship of art programs in our affordable portfolio, such as “Art of Sedgwick” in Chicago and the Mural Festival in Springfield, Massachusetts. Community Building Community Building Arts, culture and conversation Hudson Yards opened its retail center and Public Square with the much-heralded Off The Wall exhibit, showcasing a diverse collection of visual artists that included Jamilla Okubo and Willie Cole. Community Building Hosting local cultural events Our mixed-use properties regularly host events created to raise awareness around important issues. Hudson Yards, as an example, increases cultural understanding, facilitates education and raises money for issues affecting people of color and women, partnering with more than four dozen nonprofit organizations over the past three years, including Prep for Prep (leadership development for students of color), The Bridge Fund (homeless prevention) and Her Justice (legal services for women living in poverty). So far, Hudson Yards has hosted events attended by nearly 4,000 guests, providing free space and, in most cases, covering all other costs. Similarly, The Square, Related Southeast’s new development in West Palm Beach, has hosted a variety of community-fostering gatherings include an International Women’s Day panel. Employment and Leadership Employment and Leadership Diversity within our employee base Approximately 55% of Related’s 3,737 employees identify as Black or African American; Hispanic or Latinx; Asian; Native American or Alaskan; Hawaiian or other Pacific Islander; or mixed-race. Approximately 35% of Related’s 3,737 employees identify as female.
