Related, Tiki Barber Team Up to Boost AH

Related Cos., New York, has announced a joint venture with former football star Tiki Barber aimed at increasing the nation's stock of high-quality affordable housing.The new company, Tiki Ventures, will partner with Centerline Capital Group to purchase and extensively renovate older affordable housing developments, Related said. The first phase of the venture will consist of the acquisition and refurbishment of over 3,500 residential units for low- to moderate-income families in Virginia and North Carolina. Centerline will finance approximately $150 million of the project. "Related has been at the forefront of affordable housing development for 35 years, and this venture continues this legacy," said Stephen M. Ross, chairman of Related and Centerline. Mr. Barber, formerly a running back for the New York Giants, is now a sports broadcaster. The companies can be found online at http://www.related.com, http://www.centerline.com, and http://www.tikiventuresllc.com.