PITTSBURGH, PA – Greystar, a global leader in the investment, development, and management of real estate, including rental housing, logistics, and life sciences, announced the start of construction on Ophelia, its first apartment development in the city of Pittsburgh.
“Greystar is excited to make its entry into Pittsburgh in partnership with ECHO Realty,” George Hayward, Senior Director of Development at Greystar, said. “Together we are transforming a legacy retail strip center into a unique mixed-use project, signifying the dramatic evolution of the East Liberty and Shadyside neighborhoods. We expect this to be the first of many Greystar development projects in the city.”
The new apartment community will have 231 apartment homes for rent with 35 units dedicated to the city’s affordable housing program. ECHO Realty’s retail part, The Meridian, will have 44,000 sq. ft. of restaurant and retail space that includes Shake Shack and Barnes and Noble as well as a 36,000 sq. ft. Market District grocery store, which will combine with Greystar’s apartment community to make a best-in-class mixed-use development.
“We are pleased to partner with Greystar to bring this project to the neighborhood,” Philip Bishop, Senior Vice President at ECHO Realty, said. “We look forward to bringing back a groundbreaking new grocery store, along with other necessity-based retailers, to meet the needs of the community. We are excited to see Greystar’s vision for Ophelia come to life on the site. The new apartment community will provide a new, quality option for Pittsburgh renters.”
Ophelia will have studio, one-, and two-bedroom layouts with high-end finishes and amenities. The interior design will be a nod to the Shadyside neighborhood’s Victorian architecture with a modern take on gilded-age aesthetics. Amenities will include a fitness center with outdoor workout area, co-working space, billiards and bar area in the club room, pool, grilling and lawn area.
The Meridian project is in a prominent location at the intersection of Penn Ave. and Shady Ave. The site is close to Bakery Square, which is home to Google and other tech and life science-oriented offices as well as retail including Trader Joe’s, Target and restaurants along Penn Ave. and Walnut Street. The new East Liberty Bus Rapid Transit station is across the street, providing simple access to downtown and Oakland.
“Pittsburgh has a lot to offer with several of the country’s best universities—Pitt, Carnegie Mellon and Duquesne—and significant growth in the tech industry,” Hayward said. “There is a demand for class A for-rent housing, yet supply has lagged. We are excited to help meet that demand.”

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LEANDER, TX – Tricon Residential, a Blackstone Real Estate portfolio company, along with its residents, partners and local leaders, celebrated the grand opening of two new built-to-rent communities in Texas: Tricon Bryson in Leander and Tricon Willow Creek in Tomball. Developed in partnership with HHS Residential, a division of Plano-based Highland Homes, these communities will expand housing supply in the Austin and Houston metropolitan areas by adding 303 new, high-quality single-family rental homes.
The homes offer thoughtfully designed floor plans featuring three and four bedrooms, attached two-car garages, fully fenced backyards and sought-after community amenities, with the benefit of Tricon s industry-leading on-site maintenance and professional property management.
Tricon is proud to add much-needed housing supply to the Austin and Houston areas, developing new single-family home communities in the neighborhoods where people most want to live, said Andy Carmody, Senior Managing Director and Head of Sustainability at Tricon Residential. Tricon Bryson and Tricon Willow Creek will enhance the supply and diversity of high-quality homes, at prices well below the cost of owning, for families in communities with quality schools, simple access to employment centers and local amenities.
Tricon is on track to deliver 1,000 new build-to-rent homes in the U.S. in 2024 and has another 1,000 build-to-rent homes under development and scheduled to open in 2025.
About Tricon Bryson:

Tricon Bryson is a charming neighborhood of 155 single-family rental homes located at 440 Raglands Road, within the award-winning master-plotted community of Bryson in Leander, just north of Austin.
The community features six thoughtfully designed floor plans with an open concept offering three- and four-bedroom options, state-of-the-art technology and outdoor amenities, including a resort-style pool, river splash pad, fire pit, playground, dog park, fishing pond and more.

Every home includes a gourmet kitchen, granite countertops, stainless steel appliances, a two-car garage, optional EV chargers and a fully fenced backyard.

The community is conveniently located near Austin Community College, major employers, shopping centers, outdoor recreation, the Leander CapMetro light rail station and more.

The project developer is Johnson Development, and the builder is HHS Residential.

About Tricon Willow Creek:

Located in the northern Houston suburb of Tomball at 9835 Willow Creek Commerce Dr, Tricon Willow Creek offers 148 single-family rental homes.

Tricon Willow Creek features four open-concept floor plans with three- and four-bedroom options. Every home includes a gourmet kitchen, granite countertops, stainless steel appliances, an attached two-car garage, a fully fenced backyard and smart home technology.

Exclusive community amenities, including a neighborhood playground, sports park, dog park, pool and BBQ area.

Tricon Willow Creek offers a number of pilot Department of Energy (DOE) Zero Energy Ready Homes ( net zero homes ). These high-performance homes are designed to utilize renewable energy sources to offset most or all the annual energy consumption.

The project developer and builder is HHS Residential.

All the homes in Tricon Bryson and Tricon Willow Creek are professionally managed by Tricon Residential, offering a virtually maintenance-free lifestyle supported by a caring on-site team. In addition, as part of Tricon s commitment to supporting its residents, Tricon Bryson and Tricon Willow Creek residents will also have access to Tricon Vantage, a suite of resources designed to help them realize their financial goals and enhance their financial well-being. These include credit building support, financial literacy programs, and individualized financial coaching services.
Rob Harper, Head of Blackstone Real Estate Asset Management Americas, said: Together with Tricon, we are building on our work as a quality housing provider. This week, we re excited to announce the opening of two new communities with over 300 homes in the Austin and Houston metropolitan areas. We re thrilled that Tricon is adding more options to the housing supply and working as a right partner with the communities we serve.”

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COLORADO SPRINGS, CO – Thompson Thrift, a full-service nationally recognized real estate company and one of the nation’s leading multifamily developers, announced that it will develop Switch, a 276-unit Class A multifamily community, within Colorado Springs’ Polaris Pointe development. The company will start construction this month with first resident go-ins targeted for fall 2025.
“Colorado Springs consistently ranks among the best places to live in the United States, and its economy produces extremely favorable fundamentals that outperform the national averages,” said Josh Purvis, managing partner for Thompson Thrift Residential. “We look forward to bringing another distinctive Thompson Thrift community to this vibrant metro area and providing residents with top-notch amenities and service.”
Located on approximately 11 acres at the intersection of two major thoroughfares, Voyager Parkway and North Gate Blvd., Switch offers brilliant visibility and connectivity to I-25, allowing residents to reach top area employers within a few minutes, including the U.S. Air Force Academy, UCHealth Memorial Hospital North and Progressive Insurance. Residents can also reach greater Colorado Springs in 20 minutes and downtown Denver in only 40 minutes.
Switch will provide 276 apartment homes in one-, two- and three-bedroom configurations. Apartment homes will average 1,000 square feet and feature a host of premium amenities including stainless-steel appliances, glass-top ranges, hardwood-style flooring, a walk-in shower, multiple smart home capabilities and full-sized washers and dryers. Additionally, select units will offer premium appliances, cabinetry with soft-close doors, a deluxe closet system with shelving and garage options.
Signature community amenities will include a fully equipped 24-hour fitness center, resort-style heated swimming pool, electric firepits, a billiards and shuffleboard area, bike storage and workshop, a dog park and pet spa, and a Starbucks™ coffee bar. Residents may also utilize the residence conference room with video conference technology, the outdoor entertainment kitchen, and community-wide wi-fi. An on-site service team and a user-friendly mobile app will also be available.
Switch is strategically located within Colorado Springs’ Polaris Pointe development, a 60-business, 200-acre retail complex that also features the brand-new Ford Amphitheater, an 8,000-seat entertainment venue that includes a 45,000-square-foot, year-round restaurant and event center. Additional dining, entertainment and shopping options at Polaris Pointe include Sprouts, Bass Pro Shops, Chick-fil-A, Top Golf, indoor skydiving at iFly, trampoline and adventure park AirCity 360 and Overdrive Raceway.
U.S. News & World Report ranked Colorado Springs as the second most desirable place to live in the U.S. for 2023 through 2024 and the ninth best place to live out of the U.S.’ 150 most populous metro areas. Additionally, Colorado Springs ranks 15th out of 200 cities nationally on the Milken Institute’s 2024 Best-Performing Large Cities report, which indexes several metrics including job creation, wages and high-tech growth.
Multiple semiconductor manufacturers, aerospace and defense, and IT companies including Boecore, Meyer Burger, Entegris, Zivaro, Microchip Technologies, and others have announced plans to expand operations in the area. These expansions are expected to make more than 3,500 new jobs and have a multi-billion-dollar impact on the local economy.
The city has also made a significant investment in tourism and entertainment with its City for Champions projects, a collection of five new distinct venues including the U.S. Olympic & Paralympic Museum, Weidner Field, Ed Robson Arena, the William Hybl Sports Medicine & Performance Center and the Air Force Academy Gateway Visitor Center.

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