BOSTON — Behind every transformative cityscape, there’s often someone whose work speaks louder than their name. In Boston — where old streets meet new science, and where glass towers rise beside historic brownstones — Stephen N. Faber has been that quiet force for over four decades.
He doesn’t chase the spotlight. He doesn’t lead with the numbers. Ask him what he’s most proud of, and you’ll hear about trust, family, and doing the right thing — even when no one is watching.
“Remember to behave like a gentleman, especially in the face of adversity,” he says. It’s advice passed down from his father — a WWII veteran and Lockheed engineer — and it has quietly shaped Faber’s leadership philosophy ever since.
Today, as Executive Vice President at Related Beal, Faber stands at the center of one of the most dynamic real estate firms in Boston. But his path began far from the gleaming life sciences corridors of the Seaport.
On September 11, 2025, Faber with be honored with the 2025 Lifetime Achievement Award at the Boston Real Estate Times’s annual Excellence Awards gala.
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Fresh out of Boston University in the early 1980s — when the Federal Funds Rate hit 19% — Faber chose substance over flash, taking a job at General Investment and Development (GID) instead of joining a flashy brokerage firm. He cut his teeth managing assets across upstate New York, where a simple gesture from a hiring manager who held a job open during a family pregnancy became an early and lasting lesson in leadership.
Over time, Faber moved between asset classes, cities, and disciplines — mastering leasing, development, acquisitions, and entitlements. But it wasn’t until joining Beal Companies in 1996 that his work began reshaping Boston itself.
Following the firm’s merger with The Related Companies, Related Beal was born — and with it, a new platform for innovation-focused real estate. Faber emerged as a trusted leader at the forefront of Boston’s biotech boom, years before the market caught up.
At Innovation Square in the Seaport — now a keystone of Boston’s life sciences ecosystem — Faber took a bold risk. With internal approvals lagging and timelines tight, he personally paid the $155,000 permitting fee to keep the project alive. That bet paid off: the building leased up before completion, kickstarting a biotech migration to the South Boston waterfront.
“Steve blends bold vision with calculated risk to shape contextually appropriate outcomes,” said Joseph Mamayek, Principal at SGA. “Through his mentorship, collaboration, and advocacy, he nurtures stewardship of community values—driving job creation while advancing sustainable, resilient life‑science solutions.”
His vision also extends to environmental leadership. Under Faber’s guidance, Innovation Square Phase III became Boston’s first LEED Platinum and LEED Zero-Net-Carbon life sciences building, setting a new benchmark for sustainable, inclusive growth.
“Steve’s visionary leadership and unmatched expertise across the innovation, research, and commercial markets drive our team forward each day,” says Kimberly Sherman Stamler, President of Related Beal. “This award reflects not only his many accomplishments, but also the collaborative, principled, and future-focused mindset he brings to everything he does.”
That mindset has shaped many of the city’s most important recent developments: Channelside, a 6.5-acre mixed-use project on the Fort Point Channel; Congress Square and One Kenmore Square; and the landmark 350,000-square-foot lease with Vertex Pharmaceuticals at Leiden Center II — finalized, fittingly, at an outdoor table at Davio’s in the Seaport.
And yet, through all of this, Faber remains deeply grounded. He recalls his earliest mentor, Professor Keith Munsell at BU. He credits the Beal brothers, Bruce and Robert, for teaching him the importance of trust, community, and quiet leadership. And he speaks most often of his family — his wife, four children, and five grandchildren — as his deepest source of pride and purpose.
“I never had to ask to take on more,” Faber says. “I just did the work. Proved the hypothesis. Brought the deal.”
Related Beal: Building Boston’s Future
As Executive Vice President, Faber’s leadership is inseparable from Related Beal’s identity. The firm’s integrated platform — blending local expertise with national reach — has helped define Boston’s urban renaissance over the past decade.
From transformative projects like Innovation Square and Channelside to luxury residences like The Clarendon, Lovejoy Wharf, and The Beverly, Related Beal’s work reflects the values Faber champions: resilience, sustainability, and community impact.
The firm continues to double down on Boston — investing in emerging neighborhoods, evolving housing needs, and the innovation economy that drives the region forward. At the heart of it all is a belief in creating places that matter.
“We’re shaping the future of Boston,” Faber says. “We’re building spaces that fuel discovery, house families, and strengthen communities. That still gets me up in the morning.”
Q&A with Stephen Faber
Boston Real Estate Times: What first sparked your interest in your current field?
Stephen Faber: Once I began college, I knew I wanted to be in the field of investment management. Through a real estate investment course taught by Keith Munsell at BU (still a professor today), I really started to think about a career in real estate as an investment class.
Approaching graduation in the spring of 1981, when the Federal Funds Rate was at 19%, I had two offers: become a stockbroker for First Jersey Securities or go to work for General Investment and Development (GID) in Boston. I chose GID because I preferred the idea of having an active role in the creation of financial value. (It helped that the head of First Jersey was later convicted of securities fraud and allegedly the basis for The Wolf of Wall Street.) I think I made the right choice.
Boston Real Estate Times: What are some of the key milestones or turning points in your professional journey?
Stephen Faber: A big one was when my wife and I started our family while I was managing a property in Syracuse. I was offered a new job, but it didn’t come with insurance coverage for the pregnancy. The hiring manager graciously offered to hold the job — but ultimately, GID countered with a compelling offer to relocate me to Philadelphia to manage a large mixed-use project. That experience — and the generosity of that hiring manager — stuck with me.
Joining Beal Companies in 1996 was another major milestone. Over time, I gained the trust of Bruce and Robert Beal and was able to grow our portfolio through acquisition and partnerships with major equity groups and lenders.
At Beal, we were early believers in life sciences. That led to some groundbreaking lab developments in Boston and Cambridge — long before it became the market it is today.
Boston Real Estate Times: What obstacles did you face, and how did you overcome them?
Stephen Faber: I’ve always taken the approach that it’s better to show results than ask for permission. One example: before we secured full internal approval for our Innovation Square project, I paid for the building permit application out of my personal account to keep us on schedule with the EDIC. That allowed us to move forward with confidence — and ultimately lease the building six months before delivery.
Boston Real Estate Times: Was there a mentor or role model who helped shape your path?
Stephen Faber: My father, a WWII veteran and mechanical engineer, instilled in me the importance of adding value through your work. Professor Munsell at BU sparked my interest in real estate. And Bruce and Robert Beal trusted me and taught me invaluable lessons — Robert in community engagement, and Bruce in negotiation. My current superiors, Kim Sherman and Bruce Beal Jr., lead with thoughtfulness and make our entire team feel empowered.
Boston Real Estate Times: What has been one of the most impactful or rewarding moments of your career?
Stephen Faber: Sitting outside at Davio’s in the Seaport in 2022, finalizing the 350,000-square-foot deal with Vertex Pharmaceuticals for Leiden Center II. That was the culmination of years of work — and it took our entire team to get there.
Boston Real Estate Times: What continues to motivate or inspire you every day?
Stephen Faber: My amazing family — my wife, our four children, and our five grandchildren. Our incredible team at Related Beal. And the work itself — projects like Channelside and Innovation Square that shape Boston’s future.
Boston Real Estate Times: If you could give one piece of advice to your younger self, what would it be?
Stephen Faber: Remember to behave like a gentleman, especially in the face of adversity.
