Related Ross Hires Former Exec from Florida Power & Light
By Jeff Ostrowski May 23, 2025 3:30 pm
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Related Ross — Stephen Ross’s new commercial real estate firm that has become increasingly active in West Palm Beach, Fla. — has hired a former executive from the state’s major electricity provider as vice chairman.
The company announced that Eric Silagy, a longtime executive at Florida Power & Light (FPL), will take on a role focused on Related Ross’ long-term vision for West Palm Beach and South Florida.
“The scale of transformation underway in West Palm Beach and South Florida demands leaders fluent in both the public and private spheres — individuals who can broker catalytic deals and build genuine trust across diverse communities,” Ross, the founder, CEO and chairman of Related Ross, said in a statement.
In 2023, Silagy, 60, stepped down as chairman, president and CEO of FPL, the largest utility in the nation’s third-largest state. FPL is a unit of Juno Beach, Fla.-based NextEra Energy , which in the past two decades has transformed itself from a middle-of-the-pack power producer into the nation’s most valuable energy company, based on market capitalization.
Silagy’s departure wasn’t without controversy. In one example, the Miami Herald reported in 2022 that Silagy was secretly running the Capitolist, a website that claimed to be an independent news outlet. But the Capitolist, aimed directly at Tallahassee decision makers, was bankrolled and controlled by executives of the power company through an Alabama consulting firm, the Herald reported.
Related Ross, for its part, dominates the market for Class A office space in West Palm Beach, where it owns Phillips Point, Esperanté Corporate Center, CityPlace Tower, 360 Rosemary and One Flagler. Related Ross’ portfolio spans 2.8 million square feet of existing commercial space that’s either built or under construction, with an additional 1.5 million square feet in development.
Related Ross’ development plans call for a $10 billion investment in a variety of projects, including offices, homes, retail, hospitality and golf clubs.
Jeff Ostrowski can be reached at jostrowski@commercialobserver.com.
