Press Releases

Related Companies announces nationwide residential smoke-free initiative

Related Companies becomes the first developer and owner to implement a nationwide policy aimed at improving the health and quality-of-life for all residents in its over 40,000 rental residences

Related Companies today announced the launch of a portfolio-wide smoke free initiative for all of Related’s over 40,000 luxury, workforce and affordable rental residences. Related, the premier brand of luxury rental residences and multi-family housing, owns and operates buildings across the country in 17 states. Today’s announcement follows the successful completion of a pilot program commenced in 2009 when Tribeca Green and The Sierra became the first New York City buildings in a premier asset class to establish this healthy living enhancement.

Jeff Brodsky, President of Related Management said, “In concert with Related’s commitment to sustainability and the wellness of its residents, we are proud to have proactively instituted a smoke-free commitment nationally. As a company, we are constantly looking for new ways to improve our residents’ quality-of-life. Since 2009, Related has initiated a smoke-free plan enhancing the indoor air quality in over 100 buildings representing approximately 20,000 residences. We are excited to be able to now make a firm commitment to include our entire residential portfolio in our smoke-free efforts.”

The demand for smoke-free housing often exceeds the supply available, and over the past several years Related has worked to meet this demand by successfully converting and establishing smoke-free buildings at One Back Bay in Boston, 500 Lake Shore Drive in Chicago, and 1214 Fifth Avenue, Tribeca Green, Tribeca Park, The Lyric, The Sierra and 89 Murray in New York City. Beginning in June, as a natural extension of the company’s brand promise of “expect more at home,” new residents and their guests will be prohibited from smoking in their apartments or in any common areas of the buildings. And going forward, all renewals, where legally permissible, will include a smoke-free lease rider. The smoke-free policy will also apply to all of Related’s future rental developments.

“Several of Related Companies’ buildings in New York City have already been recognized as Healthy High Rises by the American Cancer Society,” said Donald Distasio, Executive Vice President of the American Cancer Society’s Eastern Division. “A nationwide commitment is a great next move by Related and illustrates their commitment to public health. This policy should serve as an example to other residential building owners across the country. There is no safe level of exposure to secondhand smoke and the American Cancer Society applauds this action.”

The Smoke-Free commitment continues Related’s foray into groundbreaking advances in sustainability, wellness and lifestyle services, including the use of Green Seal cleaning products and low VOC paints in all of its apartments across the country, integrating one of the world’s finest fitness brands, Equinox Fitness Clubs, into its luxury residential portfolio, as well as becoming the first New York City developer to offer no-fee credit card rental payment options to its residents. Related is also committed to building sustainable buildings and reducing global carbon emissions by advancing clean energy generation, energy management and energy conservation throughout all of its properties. R

elated Companies is the most prominent privately-owned real estate firm in the United States. Formed over 40 years ago, Related is a fully-integrated, highly diversified industry leader with experience in virtually every aspect of development, acquisitions, management, finance, marketing and sales. Headquartered in New York City, Related has offices and major developments in Boston, Chicago, Los Angeles, San Francisco, South Florida, Abu Dhabi, Sao Paulo and Shanghai and boasts a team of over 2,000 professionals. The Company’s existing portfolio of real estate assets, valued at over $15 billion, is made up of best-in-class developments in premier high-barrier-to-entry markets across all asset classes.

The company has dramatically redefined the concept of metropolitan luxury by introducing extraordinary residential rental properties in Boston, Chicago, San Francisco and New York City. With each new building, Related has been hailed for setting new standards of excellence in the luxury rental marketplace. To ensure that every resident in every Related building enjoys the very finest services, unsurpassed amenities, and a luxury lifestyle without compromise, Related Companies takes great pride in managing every building it owns. Related owns and manages The Caledonia, MiMA, One MiMA Tower, The Lyric, One Carnegie Hill, One Union Square South, Riverwalk Crossing, The Sierra, The Strathmore, The Tate, Tribeca Green, Tribeca Park, Tribeca Tower, The Westminster and The Westport in New York City (and manages 1214 Fifth Avenue, The Ventura and 89 Murray also in New York City), One Back Bay in Boston, 500 Lake Shore Drive in Chicago and The Paramount in San Francisco. Related also owns an extensive portfolio of workforce and affordable housing across 17 states and has several new rental developments underway across the country.

Related also owns Equinox® Fitness Clubs, further expanding the company’s capabilities into the health and fitness arena and enhancing the value of its properties by incorporating an exclusive, branded amenity into the lifestyle offering, and a partnership interest in Union Square Events, the catering, culture, sports, and events business of Danny Meyer’s Union Square Hospitality Group. For more information about Related Companies please visit ###