The PACT Partner
Team
Essence Development and Related Companies are uniquely qualified to partner with the Fulton and Elliott-Chelsea community, NYCHA leadership, and local stakeholders to lead a resident-focused redevelopment. With a strong commitment to delivering a resident-centered experience for Fulton Houses and Elliott-Chelsea, Essence is a certified Minority Business Enterprise (MBE) social impact development firm, led by a highly experienced developer of affordable and workforce housing. Essence is dedicated to creating thriving communities through active community engagement, sustainable design, and diverse teams that genuinely reflect the neighborhoods they serve. Related, one of the most prominent privately-owned real estate firms in the country, began its journey in 1972 as an affordable housing developer and has since grown into one of the largest developers, financiers, and preservationists of affordable and workforce housing across the U.S. Today, Related proudly owns, operates, and manages more than 55,000 affordable and workforce housing apartments, continuing its tradition of building brighter futures for all.
Related Companies is a global real estate and lifestyle company defined by innovation and the most prominent privately-owned real estate firm in the United States. Formed over 50 years ago, Related is the largest private owner of affordable housing and 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 also has offices and major developments in Boston, Chicago, Los Angeles, San Francisco, Austin, South Florida, Washington, D.C., and London, and boasts a team of approximately 4,000 professionals. With over $70 billion in assets owned or under development, Related has experience executing some of the largest and most complicated real estate projects in the United States spanning a wide range of asset classes. Active large-scale mixed-use developments include the 28-acre Hudson Yards neighborhood on Manhattan’s West Side, The Grand and Related Santa Clara in California, and The 78 in Chicago. Related was named to Fast Company Magazine’s list of the 50 Most Innovative Companies in the World.
Essence Development is a social impact firm with a vision for building communities of opportunity. We begin with a scalable model that leverages the team’s years of experience with federal, state, and local programs to create and preserve affordable housing in urban cities throughout the country. One of the visions for Essence is to combine government programs with private sector resources to build and preserve communities and unlock tremendous value. The model focuses on several high-impact areas to achieve this goal: Workforce Training & Income Mobility, Affordable Healthcare, Quality Education, Healthy Grocers, Quality Sustainable Housing, Broadband Connectivity. Essence Development was founded on the idea that providing top-quality living, while offering social, economical, and healthy living opportunities is fundamental to creating real change.
