A billionaire property developer has predicted that more New Yorkers will flee to Florida due to high taxes and 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 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 evDEN EVe nakliYat 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, eVDeN EVE naKLiyaT 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 12.2 percent, respectively
In the past two years, major 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.
Should you beloved this short article as well as you desire to be given more info concerning EvDEN EVE NaKliyAt kindly stop by our webpage. 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), EVdEn evE NAkliyAt 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.