Miami Dolphins Owner Now Owns 50% of London Micro-Homes Developer

April 11, 2016 Redazione

Stephen Ross, US billionaire, and owner of the Miami Dolphins football team, has entered the UK affordable housing market. Ross’s Related Companies group purchased 50% of Pocket Living at £25million. Pocket Living was founded 10 years ago and focuses on one-bedroom “micro” flats targeted at homebuyers who cannot afford market prices which are nine to ten times that of earnings, but are wealthier than “social” tenants. They make on average £39,000 a year, but Pocket Living offers 20% discount to buyers if they do not meet a certain income benchmark. Related Companies is predicted to make first profits in 2016-2017 with the goal of 500 homes in the annual pipeline

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