Edited by: TJVNews.com

While it is well known that during the dread Covid-19 pandemic, New York City saw a decrease in population as many city residents packed up and moved to Florida is what was termed as a mass exodus, the New York Post has reported that billionaire real estate developer, Stephen Ross, 82, has said that the migration to Florida amongst New Yorkers will continue because of the “ease of living” in the Sunshine State compared to the high-tax, crime-ridden Big Apple.

Speaking to Bloomberg News on Wednesday, Ross, who is the founder of Related Cos., the company that built the Hudson Yards project on Manhattan’s West Side, said that he has plans in motion to develop even more commercial real estate in Florida outside of the traditional markets of West Palm Beach and Miami, the Post reported.

Ross also told Bloomberg News that, “People are looking from the Northeast and relocating for jobs — not retirement — and companies are looking” for offices. It’s tax issues, and there is the security issues.” The Post reported that Ross added: “There’s just the ease of living.”

In the last two years, or thereabouts, Florida has witnessed a significant influx of New York residents and Ross has said that this push into Florida is aimed at keeping up with soaring demand for office space in the state. Ross owns the chain of Equinox Gyms and he also has the NFL’s Miami Dolphins in his portfolio, the Post reported. As of Thursday, Ross’ net worth was valued by Bloomberg Billionaires Index at $8.39 billion.

The multi-billionaire said that Florida is no longer just a retirement destination for older people seeking a warmer environment and a more relaxed living setting than they would find in their native Northeast locations, the report indicated.

Florida is now a strong draw for career-oriented people, who are younger and are more affluent as they continue to seek an alternative to the comparatively burdensome reality of New York.

Even though the Sunshine State appears to be shining in its own right among those who are choosing to leave New York City and other cities along the Northeast corridor, including Boston, Philadelphia and the Washington, DC area, Ross has said that he is not completely abandoning the Big Apple, the Post report said.

Related Cos is placing a bid to construct a Manhattan casino resort as part of the second phase of its $25 billion Hudson Yards plan; a portion of which remains undeveloped, the Post reported.  Ross told Bloomberg News, “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.”

He added that, “It’s changing, it’s getting younger, the older people are moving out, the wealthier people are moving out.” He also predicted that the business community in New York City will continue to be engaged as it remains a preferred venue for younger people.  The Post reported that Ross added,  “We have huge investments, we’re still doing tremendous developments in New York.  But I think Florida is going to capture an awful lot of people.”

As for Ross’ plans for continued growth in Florida, the Post reported that his Related Cos. has either built or is building mixed-use residential and commercial projects in West Palm Beach and Miami. They have attracted blue-chip tenants including Goldman Sachs and Mets owner Steve Cohen’s hedge fund, Point72 Asset Management.

The Post reported that last year, Related Cos partnered with Swire Properties to erect one of the tallest skyscrapers in the trendy Brickell section of Miami.

As with the nature of business, Ross is not the only one to see the litany of advantages of Florida for those seeking greener pastures, the Post reported.  Last year, Ken Griffin, the hedge fund billionaire who runs Citadel, announced that his company would be relocating its headquarters from Chicago to Miami.

Official data emanating from the federal government, indicate that Florida’s nonfarm employment surpassed that of New York for the first time in four decades last year, according to the Bureau of Labor Statistics, the Post reported.

The report added that last year alone, more than 64,500 former residents of New York state moved to Florida — more than any year in history, according to the Florida Department of Highway Safety and Motor Vehicles, which tracks driver’s license statistics.

In 2021, 61,728 New Yorkers relocated to Florida, according to the data provided by the government and the trend appears to be continuing.