Related California, which is building a $3 billion project in Santa Ana, announced co-founder and Chairman Bill Witte will be stepping down.
Related California, which is the West Coast affiliate of Related Companies, said Gino Canori will be president and CEO of Related California, including its market-rate division, and Ann Silverberg will be president and CEO of its affordable division, effective Jan. 1. Witte will assume the role of Chairman Emeritus.
Witte founded Related California with Stephen Ross in 1989 and he, along with his long-time business partner Frank Cardone, grew the company to a portfolio of more than 21,000 residential units completed or under construction including landmark public housing redevelopments such as the Sunnydale Hope SF community in San Francisco, mixed-income and market-rate homes such as Ocean Avenue South in Santa Monica and The Century in Los Angeles.
“When I look back on the past four decades and what this team has created, I can’t help but feel an overwhelming sense of pride,” Witte said in a statement. “From the day we opened for business, our mission has been to build quality housing that meets the interests and needs of all Californians. Through the grit and determination of a group of smart, driven, and caring people, we were able to accomplish that and much more. I am beyond confident in Related California’s future under the leadership of Gino and Ann.”
