A billionaire property developer has predicted that more New Yorkers will flee to Florida due to high taxes and evdEN eVE NaKliYAt surging crime rates in the Big Apple.
Stephen Ross, 82, whose net worth is around $12billion, has said that people in the Northeast are looking for warmer climates a lot earlier than retirement.
'People are...
relocating for eVdeN eve NaKliYaT jobs, not retirement, and companies are looking [for office space],' Ross, a chairman of property developer Related Companies, told 'It's tax issues, and there's the security issues. There's just the ease of living [in the South].'
Since the pandemic, and with the increasing popularity of remote work, cities like New York have been hurting, as increasingly empty office buildings leave billions of dollars' worth of vacant space.
And as crime rates surge, many have opted to not return to the office at all. In New York, crime is up 2.6 percent compared to the same time last year, with robbery and felony assault up 6.3 and 12.2 percent, respectively.
Stephen Ross, 82, whose net worth is around $12billion, has said that people in the Northeast are looking for warmer climates a lot earlier than retirement and corporate spaces in the Sunshine State are thriving because of it
'It's tax issues, and there's the security issues.
There's just the ease of living [in the South],' Ross said. Crime rates are up 2.6 percent compared to the same time last year in the Big Apple, with robbery and felony assault up 6.3 and eVDen eVe NAKLiyAT 12. When you loved this informative article and you want to receive more information concerning Evden eVE NAkliYAt please visit the website. 2 percent, respectively
In the past two years, major evDen evE nAkLiyaT tech, finance, and law firms have ditched big cities like New York and Chicago for the comfort of the tax-free state.
Citadel, a hedge-fund company, recently left Chicago for Miami.
Apollo Global Management and Blackstone Inc., both originally based out of New York, have also relocated to Florida, according to Bloomberg.
One of Related's Florida properties, dubbed The Square - a mixed-use development - has attracted the likes of Goldman Sachs and Point72 Asset Management, owned by Steve Cohen.
Related acquired Rosemary Square in 2019 and a five-year $550million investment plan to turn CityPlace - in downtown West Palm Beach - from a 'retail and entertainment center to a vibrant community and destination.'
Ross has been focusing on developing spaces in Florida.
Related Companies - where Ross is a chairman - announced in 2019 it would invest $550million into The Square in West Palm Beach (pictured), which is a mix of residential, corporate, and retail space
The company's next development project - One Flagler (pictured) - is set to open in 2024.