New partnership will provide additional choice to Related’s residential portfolio and low-cost internet service to Related’s affordable housing
Related Companies today announced it has formed a strategic partnership with Starry, Inc. to provide Starry Internet across Related’s national portfolio of residential properties. Starry, a Boston-based technology company pioneering the use of millimeter waves to deploy fixed 5G wireless last-mile gigabit broadband, is already providing service in Related’s residential properties in Boston and Los Angeles. The new partnership will now expand Starry service to Related’s luxury residential units in New York City this fall, and also bring low-cost internet access to affordable housing units that Related owns and manages across the country.
“The partnership with Starry continues Related’s commitment into groundbreaking advances in technology, sustainability, wellness and hospitality, and expands on our belief that every Related resident should enjoy the best services, amenities and lifestyle conveniences we can offer,” said Jeff T. Blau, CEO of Related Companies. “We are constantly looking at new ways to enhance our residents’ experience, and customer choice has been a core component to delivering great service to our residents. Related was founded with a focus on innovation and our partnership with Starry is an ideal fit to expand our technology offerings. We piloted Starry in our Boston portfolio to great success and are pleased to be first-to-market in Los Angeles and New York City. We are also extremely proud to be able to work with Starry to bring low-cost broadband to our affordable housing developments across the country.”
“Today, everyone recognizes and acknowledges the importance of having a reliable, affordable high-speed internet connection in the home,” said Starry CEO and Co-Founder Chet Kanojia. "Innovative companies like Related, however, have an acute understanding of the importance of providing its residents with access to cutting-edge technologies to enhance the resident experience and the value of their properties. At Starry, we are changing the entire internet experience for the consumer. Delighting the customer is our priority. That’s why we’re thrilled to partner with Related, a company that shares these same values and an insatiable spirit of innovation.”
Starry is currently available in The Beverly, The Clarendon, Lovejoy Wharf and One Back Bay in Boston, as well as Argyle House in Los Angeles, and will launch in various Related New York City affordable and luxury residential properties in upcoming weeks. Related Companies takes great pride in managing every building it owns and in developing and implementing initiatives that improve the health and overall quality of life for all its residents. Related was recently named one of the “50 Most Innovative Companies in the World” by Fast Company Magazine.
Among other leadership initiatives, Related was the first landlord to accept credit card payments, one of the first developers to build sustainable high-rise buildings and the first national developer to go smoke-free, as well as having created a strategic partnership with tech-meets-hospitality platform Hello Alfred to create a custom offering of life-enhancing services. Related’s commitment to hospitality-level service in its residential buildings includes a proprietary training program that empowers employees to exceed its residents’ expectations.
Related is also a strategic investor in category-defining companies including Equinox®, SoulCycle and Motivate—the operators of Citi Bike and other bikeshare systems across the nation. Related is also a world leader in the preservation and rehabilitation of affordable housing. Related Affordable, the division of Related Companies that develops, acquires and preserves affordable housing, is best known for its property rehabilitation and long-term preservation efforts, which have included enhancing the properties through additional community centers and computer rooms so residents without internet access in their homes can participate in after school programming, job training and life-changing adult literacy courses.
Through Related’s partnership with Starry, Related Affordable will now be able to offer free broadband in common areas and low-cost internet service to residents living in its affordable properties. In the United States, lack of competition among internet service providers has translated into high costs for broadband-only connections. According to Federal Communications Commission data, half of all American households do not have a choice in high-speed internet providers and more than 24 million Americans lack any access to a high-speed internet broadband connection. Among lower-income Americans, nearly half do not have a broadband connection at home.
“Related is proud of its nearly half-century commitment to affordable housing and our track record of enhancing residents' lives through innovative services and amenities,” said Matthew Finkle, president of Related Affordable. “Through our work, Related Affordable has been able to help our residents go to college, attend after school events and participate in local job training programs, and we are pleased to partner with Starry for low-cost broadband.” In addition to the partnership, Related Companies has made a strategic investment in Starry, participating in the company’s most recent $100 million C round. Starry has raised a total of $163 million and is backed by a diverse group of investors including Tiger Global, KKR, Firstmark Capital, Fidelity, Arrowmark Partners, IAC and HLVP.
About Starry, Inc.:
At Starry, Inc., we believe the future is wireless. Connecting people and things to high-speed broadband internet should be simple, effortless and affordable. Starry is re-imagining broadband access by developing an ecosystem of products designed to simplify and improve your connected life. Using our proprietary pre-standard 5G millimeter wave technology, Starry is deploying a wireless last mile gigabit-capable broadband network to deliver high-quality, affordable internet service to homes across the country. Based in Boston, Starry is backed by world-class investors and is growing. To learn more about Starry or join our team, visit www.starry.com.
Related Companies is the most prominent privately-owned real estate firm in the United States. Formed over 40 years ago, Related is 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 has offices and major developments in Boston, Chicago, Los Angeles, San Francisco, South Florida, Washington, D.C., Abu Dhabi and London, and boasts a team of 4,000 professionals and over $50 billion in assets owned or under development. Related has a staunch four-decade commitment to affordable housing development and preservation. The company owns approximately 45,000 affordable units and has not converted a single affordable unit to market rent. Related was recently named one of the “50 Most Innovative Companies in the World” by Fast Company Magazine. Among other leadership initiatives, Related was the first landlord to accept credit card payments, one of the first developers to build sustainable high-rise buildings and the first national developer to go smoke-free and created a strategic partnership with tech meets hospitality platform Hello Alfred to create a custom offering of life-enhancing services. Related’s commitment to hospitality-level service in its residential buildings includes a proprietary training program that empowers employees to exceed its residents’ expectations. Related has also made strategic investments in category-defining companies including Equinox®, SoulCycle and Motivate - the operators of Citi Bike and other bikeshare systems across the nation. For more information about Related, please visit www.related.com.
Virginia Lam Abrams
Madelaine St. Onge