"I want to keep busy," Studley tells GlobeSt.com. "I'm not ready to retire." He adds that the venture will help pay for the non-profit ventures he's involved in.In an interview with Real Estate Forum editor Cynthia J. Hoffman for the March 2005 issue, Studley said, "I have become interested in affordable housing. Affordable housing is a problem that the boom in real estate has not properly dealt with."

Studley will also provide advisory services to owners and developers through another entity. He is joined in the venture by Donald Schnabel, Stan Kovak and Marion Rios, all previously of Studley. The firm will share its headquarters at 505 Park Ave. with the Julien J. Studley Foundation. Studley, who has a more than 50-year career in commercial real estate, will also remain involved with supporting the not-for-profit groups he has been involved with as either a board member, officer or supporter over the last decade.