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Related California announces new market-rate residential division to be led by veteran real estate executive Greg Vilkin

Related California, the West Coast Affiliate of Related Companies, today announced that veteran real estate executive Greg Vilkin will join the company as President of Related California Urban Residential, a newly formed division, and as a member of the senior executive team.

In the newly created role, Mr. Vilkin will lead all of the firm’s market-rate and luxury residential development opportunities, both stand-alone and within mixed-use environments, throughout the state. Mr. Vilkin will officially join the firm on October 1. Simultaneously, long-time Related California executive Frank Cardone was named President of Related California Affordable where he will continue to spearhead all of the firm’s affordable housing activities. Mr. Cardone also will continue to serve as Chief Operating Officer of Related California.

Related California Chairman and CEO William Witte said, “The last twenty-five years we have maintained steady growth and commitment, and I am extraordinarily proud of the team of professionals we have assembled that offer the ability to influence every aspect of the real estate business. In the past five years, we have produced a remarkable pipeline of market-rate and mixed-income residential opportunities deserving of their own division. We are thrilled that Greg Vilkin will be joining our talented and experienced executive team, all of whom have played a key role in positioning Related California well for our next chapter of growth. Greg is an experienced leader with a broad and long track record of delivering best-in-class residential projects. He will be a great asset as we execute on our vast pipeline of residential developments and continue to capitalize on unique opportunities in the marketplace.

"We also remain staunchly committed to developing, acquiring and rehabilitating affordable housing and are pleased that Frank Cardone, a foremost expert in the area, will continue to lead, grow and expand that business as President of Related California Affordable.”

Mr. Vilkin previously served as managing principal and president of MacFarlane Partners. He joins Related with more than 30 years of real estate investment, development and management experience, during which he has led teams that developed over $10 billion in residential, retail, hospitality, office and industrial properties, as well as master-planned communities, in markets throughout the United States. A nationally recognized authority on workforce housing, he has worked extensively in developing communities and revitalizing urban neighborhoods through public/private partnerships.

Stephen M. Ross, Chairman of Related Companies, said, “I am very pleased to have Greg join our talented executive team in California. His over 30 years of diversified real estate experience across the Western Region will further enhance our industry leadership position and ensure we execute on our strategic growth plan for the region.”

Greg Vilkin said, "I am delighted to join Related Companies in this newly created role. Related has always been a best-in-class developer and consistently made communities better with a commitment to building housing for all and through thoughtful and beautifully designed buildings. They have assembled a tremendous pipeline of marquee projects and I look forward executing on the current projects and pursuing additional new development opportunities."

Mr. Vilkin previously worked in various capacities for Forest City Enterprises, a publicly held real estate operating and development company with assets nationwide. For more than 10 years, he served as president of Forest City’s real estate businesses that operated in the western U.S. – Forest City Residential West and Forest City Stapleton. The two businesses developed and owned a wide range of properties, including high-density apartments and condominiums, office buildings, retail centers and large-scale mixed-use projects.

Under his leadership, Forest City Stapleton undertook the nation’s largest urban redevelopment project, working in a public/private partnership to transform the former Stapleton International Airport in Denver into a master-planned community consisting of more than 12,000 homes and 10 million square feet of commercial and retail space.

Mr. Vilkin serves on the board of directors of the Center for Creative Land Recycling and the Multifamily Leadership Board of the National Association of Home Builders. He also is a member of the Urban Land Institute, the Congress for the New Urbanism and the Young Presidents’ Organization. He holds a B.A. in Finance from California State University at Northridge.

Mr. Cardone will oversee all operations and development activities for Related California Affordable with responsibilities that encompass all aspects of the development and redevelopment process. He has been with Related for nearly 20 years, playing a critical role in building and leading the firm’s affordable housing business. Prior to joining Related California in 1995, Mr. Cardone was a Senior Project Manager for M. David Paul & Associates, a Santa Monica-based residential and commercial developer.

Mr. Cardone has also worked as a Development Project Manager/Vice President for Calmark Development Corporation, a developer of multifamily housing. He holds a master’s degree in Civil Engineering from Stanford University and a bachelor’s degree in Civil Engineering from Loyola Marymount University. Related California has over 1,000 affordable and market-rate residential units currently under construction. Residential sales are underway at The Waverly and Seychelle in Santa Monica and The Century in Los Angeles.

The Emerson, in downtown Los Angeles, will commence leasing in the near-term. In addition, Related California has nearly $2+ billion of market-rate projects under development in San Francisco, Silicon Valley, Marina del Rey, Hollywood, Orange County and San Diego and nearly 3,000 units of affordable housing in 20 projects under development statewide including two major public housing redevelopments in San Francisco and Sacramento. Related California also is collaborating with Related Companies on the 9-acre, 3.6 million-square-foot mixed-use Grand Avenue development in downtown Los Angeles and a 230-acre, nearly 8 million-square-foot mixed-use development in Santa Clara.

 

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Related California, the West Coast affiliate of Related Companies, is a fully integrated real estate firm that develops multifamily residential and mixed-use properties in California. Since 1989, Related California has undertaken a range of transformational developments from best in class luxury high rise residential properties to the redevelopment of obsolete public housing, spanning a broad spectrum of urban infill, affordable, mixed-income and market rate multi-family developments. The company has completed more than 9,800 residences and has a track record of consistently developing communities that represent industry benchmarks in design, construction, sustainability and property management. Related California has a long history of community partnership, having collaborated with more than 20 municipalities and over 25 non-profit organizations throughout California. Related California has successfully developed and managed a broad range of property types throughout Alameda, Contra Costa, Los Angeles, Orange, Sacramento, San Bernardino, San Diego, San Francisco and Santa Clara counties. Related California has developed more than $2.9 billion in assets. For more information about Related California, visit www.relatedcalifornia.com.

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