Greystar Tackles Nation’s Attainable Housing Need

Utilizing its vertically integrated platform and global expertise, leading multifamily stakeholder Greystar Real Estate Partners is delivering a scalable private-sector solution to meet the nation’s attainable housing needs.

Greystar’s dedicated Ltd. brand will provide an affordable option for missing-middle households, primarily focusing on renters who earn too much to qualify for subsidized housing but not enough to afford the rents of new market-rate apartments.

The company’s impact housing product also will provide a “certainty of housing” for residents with a guarantee that annual rents will not increase by more than the greater of the Consumer Price Index or 3%.

“It’s important for Greystar and the industry,” says Scott Berka, the company’s senior managing director of brand and customer experience. “When you look at housing today, the middle is really underserved. When you look at new developments, high incomes and higher rents are pricing people out like nurses and teachers and paramedics. They can’t afford a lot of the new deliveries coming online. The housing they are left with is aging. We want to bring better housing to those people who drive our country forward.”

Greystar gave Multifamily Executive an early look at how the company plans to meet this challenge, with the first group of Ltd. communities taking shape.

Company founder, chairman, and CEO Bob Faith says there hasn’t been a great private-sector strategy to address this middle-market product in the United States. He adds that many of the ideas behind the Ltd. brand grew out of the company’s global platform.