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.

Expanding Across the U.S.

Beyond Chicago, Related’s pipeline includes:

• Missouri: A 600-acre, 1.2-gigawatt facility

• Illinois: A 500-acre, 1-gigawatt project

• Wyoming: Two 250-megawatt data centers on 115 acres

Meanwhile, its Ontario project is already preleased and set for delivery to a hyperscale customer this summer, underscoring the strong demand for high-performance computing space.

The Data Boom and the Vision Behind It

Related’s bold push into the digital infrastructure sector reflects the skyrocketing demand for reliable data storage and computing power.

“Digital infrastructure is one of the most remarkable growth categories and asset classes that I have seen in my more than 35 years in real estate development, driven by the unprecedented demand for data centers with reliable access to significant energy sources,” said Jeff T. Blau, CEO of Related Companies.

A Powerhouse Leadership Team

To steer Related Digital, the company has assembled a team of industry veterans, including:

• Brent Behrman, former executive at CyrusOne, as Chief Investment Officer

• Greg Myers, formerly with Vista Equity Partners, as Chief Financial Officer

• Erik Egger, transitioning from Prologis to join Related Digital

• John Shine, from Compass Datacenters

Additionally, an advisory board will include:

• Bill Stein, co-founder of Digital Realty Trust

• Phil Horstmann, founder of Ascent

• Miguel Prado, from renewable energy firm energyRe

The Road Ahead

With billions on the table and a powerhouse leadership team in place, Related Digital is positioning itself as a formidable player in the digital infrastructure revolution. While Related did not provide further comment on its plans or legal counsel details, the industry will be closely watching as it reshapes the future of high-powered data centers across North America.