KNOX, PA – Greystar Real Estate Partners, a global leader in the investment, development, and management of high-quality rental housing properties, announced the opening of its flagship manufacturing facility for its modular construction business, Modern Living Solutions (“MLS”), which focuses on attainable and sustainable housing. The milestone was met with a ribbon-cutting ceremony at the western Pennsylvania site where MLS is in the process of hiring 170 full-time employees to do the ramp-up and operations of its first modular factory.
Greystar’s Modern Living Solutions business is focused on addressing the chronic undersupply of housing by delivering design-conscious and cost-effective modular apartments while combining development, construction, and modular manufacturing in a vertically integrated business. As a wholly owned subsidiary of Greystar, the largest manager and developer of apartments in the US, Modern Living Solutions has the opportunity to utilize this size and scale to make a positive impact on increasing the housing supply in America. The MLS corporate office is located in Baltimore, MD, and the first factory is located in Knox, PA.
“Greystar recognizes the significant undersupply of housing options across the US today and we believe what we’re doing with MLS will start to address this challenge,” said Bob Faith, Founder, Chairman, and CEO of Greystar. “We are harnessing the innovative power of the private sector to deliver a rental product that is less expensive, more attainable, and sustainably produced to meet a need we are seeing in the market.”
Modular construction offers several key advantages that lead to a product that is more sustainably produced and provides a high quality and more affordable option to renters. At the manufacturing facility, MLS conducts both the design and assembly of modular apartments, streamlining the process on all fronts.
Manufacturing the modules in a factory-controlled environment means that projects can be delivered up to 50 percent quicker than traditional construction with less external risk presented by factors including weather, labor shortages, or on-site safety concerns. With sustainable designs, efficient usage of materials, and speed of construction, MLS units will have a smaller carbon footprint than traditionally built projects. Through a one-of-a-kind process, roughly 80 percent less waste will be produced compared to traditional builds.
“We are excited to be joining the Knox community and are proud to bring a positive impact to the economy of Northwest Pennsylvania. We’re looking forward to building our network of talented team members who I know will play vital roles in the work we do at Modern Living Solutions,” said Andy Mest, Managing Director, Modern Living Solutions.
Initially, the factory will serve the Mid-Atlantic region, particularly 30 to 45 minutes outside major metropolitan areas like Pittsburgh, PA, and Baltimore, MD, where the essential worker lives and the housing supply is low.

Powered by WPeMatico

RICHMOND, VA – Capital Square, one of the nation’s leading sponsors of tax-advantaged real estate investments and an active developer of multifamily communities, announced it has broken ground on a 352-unit, Class A multifamily development in the Scott’s Addition neighborhood of Richmond, Virginia, located within a designated qualified opportunity zone. Construction of the development is expected to be completed by Spring 2025.
“Capital Square has a track record of success in Scott’s Addition, building Class A mixed-use multifamily communities for the firm’s opportunity zone funds,” said Louis Rogers, founder and co-chief executive officer of Capital Square. “Two of the three communities known as Scott’s Collection were built, leased up, permanently financed and stabilized, all in record time with rents exceeding pro forma, while the third and final community within Scott’s Collection is currently in lease-up and performing ahead of schedule. With strong demand from qualified residents, this is an brilliant time to build another exceptional Class A residential community in Scott’s Addition.”
Located at 2929 W. Clay St., 2922 W. Marshall St., and 2925 W. Marshall St., the community will include three seven-tale adjoining multifamily buildings above podium parking with over 5,350 square feet of ground-level retail space. Residents will be within walking distance of arts, cultural and lifestyle amenities provided by the Scott’s Addition neighborhood, which contains over 51 retail, dining and entertainment venues.
Capital Square has been the most active developer within the Scott’s Addition neighborhood since 2020, having completed construction of three Class A multifamily communities, INK at Scott’s Collection, VIV at Scott’s Collection and GEM at Scott’s Collection, and nearing full completion of The Otis, all within walking distance of one another. In total, Capital Square will have delivered more than 900 Class A apartment homes to the community upon completion of the Marshall/Clay Street project for a total development cost exceeding $260 million.
Established in 1901, Scott’s Addition is a historic area known for its food, drink and entertainment amenities, including 13 breweries, cideries, meaderies and distilleries. Once a hub for industrial buildings and businesses, Scott’s Addition has become the number one “millennial hot spot” in Virginia, with a 43% increase in millennials in just five years, according to RENTCafe. The area is a designated opportunity zone with a census tract that stretches across Virginia Commonwealth University and the Carver neighborhood and is now known as Richmond’s fastest growing neighborhood, according to the Greater Scott’s Addition Association.
“Scott’s Addition has become the hottest neighborhood in Richmond, with heavy demand for high-quality rental housing,” said Whitson Huffman, co-chief executive officer. “It is a walkable, amenity-rich neighborhood that has attracted a growing population of affluent young renters and is among the highest performing markets in Richmond in terms of occupancy. Demand for our previous four apartment communities within Scott’s Addition has exceeded our expectations, and we expect our fifth development will perform in a similar fashion.”
Capital Square has partnered with Timmons Group as civil engineer, Poole & Poole Architecture as building architect, Hourigan Construction as general contractor, ENV as interior designer and Marvel Designs as landscape architect, all locally based firms.
Development of the project will be primarily funded with proceeds from Capital Square’s seventh qualified opportunity zone fund, CSRA Opportunity Zone Fund VII, LLC. Capital Square is an active sponsor of qualified opportunity funds and recently launched CSRA Opportunity Zone Fund VIII, LLC to fund the development of a multifamily development adjacent to the University of Tennessee’s Neyland Stadium in Knoxville. Capital Square’s opportunity zone funds have initiated nearly $600 million in development value to-date.
Opportunity zones were made to stimulate long-term private investments in low-income urban and rural communities nationwide. Conceived as part of the Tax Cuts and Jobs Act of 2017, opportunity zone funds are intended to help foster economic growth by providing tax benefits to incentivize private investments in designated opportunity zones.

Powered by WPeMatico

SAN CLEMENTE, CA – Harbert South Bay Partners announces construction has now begun on THE SEVILLE, a senior living community located at 2421 Calle Frontera, San Clemente, CA 92673. Offering the highest levels of care for both helped living and memory care, this new luxury community will provide seniors who need help throughout the day – or just from time to time – or those living with dementia a lifestyle of ease and grace. The leasing office for THE SEVILLE will open late 2023, with occupancy plotted for summer of 2024.
With a unique design focused on encouraging residents to live at the highest level of ability, developer Harbert South Bay Partners points out apartments within THE SEVILLE will be significantly larger than those in traditional supportive environments for seniors.
“It’s nearly unheard of for helped living and memory care residents to have apartments as large and well-equipped as those plotted for THE SEVILLE,” says Patrick McGonigle, CEO for Harbert South Bay Partners. “Seniors and their families are much more discerning now, and we’re giving them lifestyle options they most likely have not imagined were possible in a setting that also provides brilliant care.”
With walk-in closets and washers and dryers in both helped living and memory care apartments, and full kitchens in helped living apartments, residents will have a level of independence not typically seen in senior living communities providing care services.
THE SEVILLE will include 87 units, with 63 of those being helped living and 24 memory care. Three courtyards will provide secure access to sunshine and ample light inside the plotted buildings. The community will offer concierge service, luxury amenities – such as a pool for helped living residents – and something few senior living communities have – views of the sunset over the Pacific. All of this is punctuated by clinically brilliant care for those seniors needing help with activities of daily living and those who are experiencing all levels of dementia-related memory disorders.
THE SEVILLE will be managed by Momentum Senior Living, a Southern California-based company providing management and operational services to senior living communities in California.
“We continue to push the boundaries of what wellness for seniors looks like in a community setting,” says Josh Johnson, Momentum CEO. “We’re excited to see this project grow and take life, and are thrilled to bring this level of elegant, helped living and memory care to families in Southern California.”

Powered by WPeMatico