Sun Terrace at 500 Lake Shore Drive
Partnering with world-renowned architects sets us apart and allows us to be at the forefront of architectural design.
Robert A.M. Stern, Michael Van Valkenburgh, Gary Handel and Lucien LaGrange. This is the caliber of talent that regularly designs our buildings.
Related became one of the first companies to recognize what has since become an important trend in high-end residential development: both renters and buyers appreciate the special value of a building designed by a renowned architect and would pay a premium for it. As a result, Related has been able to create additional value for investors and apartment purchasers while simultaneously making significant architectural contributions to the urban landscape.
Combining residential rentals and condominiums in the same building creates meaningful advantages. A concept that Related pioneered.
Related is a leader in the development of hybrid buildings that combine luxury for-sale and rental residences in a single structure. The hybrid creates value and distinct advantages for both renters and owners. Since we can achieve inherently larger buildings, there are economies of scale and at the same time rental and condominium values are positively impacted by limited supply of each.
Residents also enjoy benefits including an enhanced package of shared amenities that might not otherwise be economically feasible. Renters have the ability to convert from renter to owner without moving from the building. Owners get full use of amenities yet pay a fraction of the cost to operate and maintain them and appreciate the long-term interest that Related has in these buildings and the value of their condominiums appreciate accordingly.
We first recognized the advantage of integrating these two asset classes in 2006 with the development of One Carnegie Hill on Manhattan’s Upper East Side. Our other hybrid developments include The Caledonia, which launched in 2008 on Manhattan’s High Line Park; and, The Clarendon condominiums and One Back Bay rental apartments, which opened in the heart of Boston’s Back Bay neighborhood in 2009.
Our attention to detail is beyond reproach. Residents often compare living in a Related building to staying at a luxurious 5-star hotel.
Related introduced Five Star Living at the One Central Park residences at Time Warner Center and has continued the tradition at our exclusive collection of for-sale and luxury rental properties. This groundbreaking concept ensures our buyers receive the best in every aspect of the luxury residential experience: inspired architecture and design, the most desirable locations, captivating views, superior service, world-class amenities and services and a sustainable lifestyle.
For over a decade, Related Midwest has embarked upon a large-scale initiative to pursue environmentally sustainable development and operations
In accordance with Related’s longstanding commitment to innovation and belief in leading by example, we have embarked upon a large scale initiative to pursue environmentally sustainable development and operations. Our first green development, Tribeca Green in Lower Manhattan, was the nation’s second LEED residential high-rise and earned the prestigious LEED Gold rating. The building’s sophisticated features include a black water treatment system, stormwater collection, premium efficiency systems and appliances, photovoltaic panels and a cogeneration microturbine. Perhaps most important to the building’s residents, every residential unit is supplied with filtered and humidity-controlled ventilation. We followed Tribeca Green with Chicago’s first LEED Silver residential condominium, 340 on the Park, and a LEED Silver retail mall in the Bronx, New York.
In 2008, Related began developing green exclusively, defined as LEED Silver or better for market rate development across all asset types and the local housing authority green building standards for subsidized development. Since making this commitment, Related has developed an additional six LEED Silver residential condominiums and two LEED Silver rental buildings, including a low-rise development in Colorado that followed the LEED for Homes rating system.
With MiMA, Related’s newest mixed-use development, we established some firsts for New York in both design and construction. The development reduced waste to landfill, improved indoor air quality on site and saved hundreds of thousands of dollars in energy through a comprehensive green construction program that included techniques like segregating gypsum wall board scrap onsite for recycling, using sweeping compounds made with pine oil in lieu of petroleum, and energy efficient temporary lighting. Inside the building, leading edge measures like LED lighting in common spaces, occupancy-based HVAC and lighting control in hotel rooms, and hybrid heat pumps in residential units make MiMA one of New York City’s most energy efficient buildings.
Partnering with established best-in-class brands has long been part of Related’s policy of providing luxury amenities that their discerning residents look for and expect.
Related properties delight residents with fresh ideas that bring joy to living: playrooms to inspire little explorers, serene outdoor spaces, pet spas for four-legged friends and entertainment lounges for lively get-togethers. With wireless business centers, in-building full service Equinox Fitness Clubs® and new culture lounges featuring luxury book publisher Assouline, Related continues to deepen their knowledge of their residents' needs so that the company can provide amenities and features residents have yet to even imagine.
Related is one of the first real estate companies to provide full online leasing capabilities including electronic lease execution.
With this tool, prospects looking to rent can go through the entire experience online through our website with no paper or property appointment required.
By integrating a variety of software and combining it with cutting edge technology created in-house, we are able to create a completely seamless leasing and move-in experience that turns a prospect into a leaseholder and ultimately into a resident.
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