[Altoic]

NYC Wealth Exodus Drives Billionaire’s Bet on South Florida Boom
https://www.bloomberg.com/news/artic...mium#xj4y7vzkg

One of Related’s mixed-use projects in West Palm Beach, dubbed The Square, has attracted the likes of Goldman Sachs Group Inc. and Steve Cohen’s Point72 Asset Management. Other financial companies have signed leases at One Flagler, also in West Palm and set to be ready in 2024. Last year, Related unveiled plans to build one of the tallest skyscrapers in Miami.

“New York will continue to grow, but it has its challenges, and a lot of people who don’t have to be there are looking not to be there,” Ross said. “It’s changing, it’s getting younger, the older people are moving out, the wealthier people are moving out.”
Still, Ross, 82, acknowledged that younger workers are still largely attracted to big cities like New York.

“We have huge investments, we’re still doing tremendous developments in New York,” he said. “But I think Florida is going to capture an awful lot of people.”