Related Companies is making a high-stakes entrance into the booming digital infrastructure market with a $45 billion pipeline of data center projects. The New York-based real estate giant announced Thursday the launch of Related Digital, a new division dedicated to developing high-capacity data centers. The venture kicks off with a 64-megawatt expansion in Ontario, Canada, setting the stage for what promises to be a game-changing move in the industry.
Raising Billions to Fuel Growth
In a press release, Related stated that it aims to raise up to $8 billion for Related Digital in multiple phases, starting with an initial commitment of $500 million. The first round of capital raising is scheduled to begin in the latter half of the year, signaling the company’s aggressive push into the market.
Among its flagship projects is a 400-acre data center development in Chicago at 8080 Lake Shore Drive, the former site of a U.S. Steel plant on Lake Michigan. The site will also house PsiQuantum’s ambitious effort to build the world’s largest quantum computer, with Related constructing a 1-gigawatt data center on the northern section of the property.
