Property management and development firm Greystar is expanding its reach into infrastructure with the hire of Michael Hoverman as the Executive Director of Infrastructure.
Greystar's strategy for infrastructure is driven by the shifting landscape of today's cities—primarily in the increased digitization, urbanization, and transitions to clean energy. The company's mission aims to improve supportive infrastructure from waste management to reliable power grid demands.
Multifamily Developer Greystar Enters Infrastructure and More
Other “adjacent thematic opportunities” the company has identified include data center development, transportation, social infrastructure, and logistic facilities. For its existing real estate footprint, Greystar plans to integrate infrastructure such as rooftop solar, cell towers, battery storage, fiber internet, and electric vehicle charging with its housing.
“Expanding into infrastructure is a natural progression for us as we continue to seek opportunities that support better living and provide high value to our residents,” says Bob Faith, Founder and CEO, Greystar. “We’re particularly excited about the opportunities within infrastructure that align with the accelerating urbanization of great cities around the world.”
Related Stories
Multifamily Housing | Mar 24, 2023
Washington state House passes bill banning single-family zoning
The Washington state House of Representatives recently passed a bill that would legalize duplexes or fourplexes in almost every neighborhood of every city in the state.
Multifamily Housing | Mar 24, 2023
Momentum building for green retrofits in New York City co-ops, condos
Many New York City co-op and condo boards had been resistant to the idea of approving green retrofits and energy-efficiency upgrades, but that reluctance might be in retreat.
Legislation | Mar 24, 2023
New York lawmakers set sights on unsafe lithium-ion batteries used in electric bikes and scooters
Lawmakers in New York City and statewide have moved to quell the growing number of fires caused by lithium-ion batteries used in electric bikes and scooters.
Multifamily Housing | Mar 24, 2023
Multifamily developers offering new car-free projects in car-centric cities
Cities in the South and Southwest have eased zoning rules with parking space mandates in recent years to allow developers to build new housing with less parking.
Multifamily Housing | Mar 24, 2023
Coastal multifamily developers, owners expect huge jump in insurance costs
In Texas and Florida, where Hurricane Ian caused $50 billion in damage last year, insurance costs are nearly 50% higher than in 2022.
Multifamily Housing | Mar 24, 2023
Average size of new apartments dropped sharply in 2022
The average size of new apartments in 2022 dropped sharply in 2022, as tracked by RentCafe. Across the U.S., the average new apartment size was 887 sf, down 30 sf from 2021, which was the largest year-over-year decrease.
Geothermal Technology | Mar 22, 2023
Lendlease secures grants for New York’s largest geothermal residential building
Lendlease and joint venture partner Aware Super, one of Australia’s largest superannuation funds, have acquired $4 million in support from the New York State Energy Research and Development Authority to build a geoexchange system at 1 Java Street in Brooklyn. Once completed, the all-electric property will be the largest residential project in New York State to use a geothermal heat exchange system.
Urban Planning | Mar 16, 2023
Three interconnected solutions for 'saving' urban centers
Gensler Co-CEO Andy Cohen explores how the global pandemic affected city life, and gives three solutions for revitalizing these urban centers.
Building Tech | Mar 14, 2023
Reaping the benefits of offsite construction, with ICC's Ryan Colker
Ryan Colker, VP of Innovation at the International Code Council, discusses how municipal regulations and inspections are keeping up with the expansion of off-site manufacturing for commercial construction. Colker speaks with BD+C's John Caulfield.
Multifamily Housing | Mar 14, 2023
Multifamily housing rent rates remain flat in February 2023
Multifamily housing asking rents remained the same for a second straight month in February 2023, at a national average rate of $1,702, according to the new National Multifamily Report from Yardi Matrix. As the economy continues to adjust in the post-pandemic period, year-over-year growth continued its ongoing decline.
