Related Breaks Ground On $350M Santa Monica Residence

Law360, New York (February 16, 2012, 4:26 PM EST) -- The Related Cos.' West Coast subsidiary, Related California, has begun construction on a $350 million residential development in Santa Monica, Calif., that will provide both luxury and affordable housing, the company said Thursday.

The project — the first development on the city's oceanfront in two decades — comes in the wake of recent reports predicting that California's financial markets will finally begin to see growth this year and ratings agency Standard & Poor's Financial Services LLC having upgraded the state's ability to pay its debts from...
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