Greystar Real Estate Partners LLC. has broken ground on a community of prefabricated modular rental units that will bring affordable housing to Pittsburgh.
The project, called Ltd. Spring Run, is Greystar’s first property constituted only of Modern Living Solutions’ factory units.
Focusing on the investment, development, and management of real estate worldwide, Greystar offers offsite prefab modular apartments at affordable prices. Delivery of the first units on its 24-gross acres is expected in June 2024. The site is seven minutes from Pittsburgh International Airport and 25 minutes from downtown Pittsburgh.
“At Greystar, we are very aware of the acute undersupply of housing in markets like Pittsburgh,” said Scott Berka, Senior Managing Director of brand and customer experience. “Ltd. Spring Run is the first of many communities under Greystar’s Ltd. brand that will provide high-quality housing at an attainable price point to critical workers like the teachers, nurses, and firefighters who are integral to our communities.”
This innovation will create several open positions for team members at MLS’s factory in Knox. PA. MLS is offering a sign-on bonus of $1,500 with competitive wages.
“We are excited about the increase in production, and as this growth continues, we are looking for best-in-class talent to join our growing team here at the factory in Knox,” said Andy Mest, Managing Director of Modern Living Solutions. “With the groundbreaking of Spring Run, we are eager to witness the realization of our first MLS-built community and actively seeking suitable land to bring more Ltd.-branded communities to life.”
About Ltd., by Greystar
Ltd. by Greystar is Greystar’s brand focused on housing that offers cost certainty for residents. Its communities will limit future rent increases, keeping them under the Consumer Price Index. A Ltd. community provides the opportunity to live in a high-quality, professionally managed Greystar apartment with the comfort of cost certainty.
Greystar is a global real estate company offering property development and management expertise throughout North America, Europe, South America, and Asia-Pacific. Its management, investment management, development, and construction services are headquartered in Charleston, SC. It manages and operates more than $275 billion of real estate in 238 markets internationally. Bob Faith founded Greystar in 1993 to become a world-class rental residential real estate service provider.
Modern Living Solutions is a modular construction company headquartered in Baltimore, MD, with a state-of-the-art offsite manufacturing facility in Knox, PA. With its expertise in the design, development, and delivery of modular construction residential real estate products, the company develops thousands of modular products on behalf of dedicated partners. Modern Living Solutions was founded in 2020 to become a provider of world-class services in the modular construction residential real estate business.