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 execute 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 begin 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 faster 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 important 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.

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 assisted living and memory care, this new luxury community will provide seniors who need assistance 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 planned 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 almost unheard of for assisted living and memory care residents to have apartments as large and well-equipped as those planned 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 excellent care.”
With walk-in closets and washers and dryers in both assisted living and memory care apartments, and full kitchens in assisted 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 assisted living and 24 memory care. Three courtyards will provide secure access to sunshine and ample light inside the planned buildings. The community will offer concierge service, luxury amenities – such as a pool for assisted living residents – and something few senior living communities have – views of the sunset over the Pacific. All of this is punctuated by clinically excellent care for those seniors needing assistance 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, assisted living and memory care to families in Southern California.”

SCOTTSDALE, AZ – Mill Creek Residential, a leading developer, owner-operator and investment manager specializing in premier rental housing across the U.S., announced it has broken ground on Modera Reserve, a contemporary apartment community in the high-end Kierland neighborhood of North Scottsdale.
Modera Reserve, which will feature 360 apartment homes, marks Mill Creek’s second development in its recently unveiled Arizona portfolio and sits one mile southwest of inaugural community Modera Kierland. Modera Reserve is located directly adjacent from Kierland Commons and within a half-mile of the popular Scottsdale Quarter, two of the neighborhood’s most vibrant outdoor shopping centers. First move-ins are anticipated for spring 2025.
“The Kierland area adjacent to North Scottsdale can be considered the premier live, work, play submarket in the Phoenix metro, and Modera Reserve represents one of the last remaining multifamily opportunities in the area,” said Tyler Wilson, managing director of development in Arizona for Mill Creek. “We believe the premier location at the southeast corner of Greenway Parkway and Kierland Boulevard is truly unbeatable, as it puts residents across the street from Kierland Commons, within walking distance of other nearby amenities and within a short commute to anything they might need. Additionally, the immediate locale will offer a private, comfortable living experience that will allow residents to unwind when they are home. We look forward to offering a best-in-class experience.”
Situated at 14811 N Kierland Boulevard, Modera Reserve will feature a wrap-style design, three courtyards and 10,000 square feet of interior amenity space. Located between Paradise Valley and the McDowell Mountains, the community is within walking distance of The West Kierland Resort and within a short commute of the neighborhood’s vast array of additional dining, retail and entertainment options. Residents will also have accessibility to numerous recreational outlets, including Kierland Park, Desert Shadows Greenway Park and several others.
Modera Reserve will feature studio, one-, two- and three-bedroom homes with various layouts and an average size of 938 square feet. Community amenities will include a hotel-style lobby with stone cladding and a water feature, resident lounge, coworking spaces to cater to the ever-increasing remote worker, clubroom with pool table, media room and glass offices. An outdoor amenity deck will include a resort-style swimming pool, outdoor kitchen and grill areas, game lawn, putting green and a dog park. Residents will also have access to a state-of-the-art fitness center, sauna, spa and a digital package room.
Apartment interiors will include a variety of deluxe features, including stainless steel appliances, quartz countertops, tile backsplashes, luxury vinyl-plank flooring, premium cabinetry, kitchen islands, undermount sinks, under-cabinet lighting, full-size washers and dryers, private patios or balconies, roller shades and a variety of smart home features, including smart thermostats and keyless entry. Bathrooms will feature double vanities, tile flooring, tile tub and shower surrounds and backlit LED mirrors. Select “premium collection” homes will include wine refrigerators and other premium upgrades.

CHARLESTON, SC – Aventon Companies, a prominent multifamily developer and general contractor with active projects throughout the Mid-Atlantic and Southeast, announced that it has broken ground on its second luxury apartment community within Charleston. Part of the burgeoning and attractive Clements Ferry corridor, Aventon Mikasa will house 336 units built over 19 acres and consist of four-story elevator-serviced buildings.
With the option of one, two and three-bedroom spacious floorplans, each apartment within Aventon Mikasa will offer top-of-the-line finishes and amenities. Also included are a clubhouse with remote working lounge, game room and fitness center as well as a resort-style pool. Its premier location will provide easy access to multiple major employment nodes including Joint Base Charleston, Downtown Charleston Peninsula, Port of Charleston, and Charleston Airport as well as adjacent Boeing and Mercedes manufacturing plants. The site, which is poised to become the premier luxury asset in the high-end Daniel Islandsubmarket, will also offer proximity to expansive dining and shopping options. The Charleston region was recently ranked by Travel + Leisure as the ‘Best City in the U.S.’ for the 10th year in a row.
“With the debut of Aventon Mikasa, we look forward to deepening our footprint here in Charleston, a high-end and rapidly growing, yet still underserved, community,” said Ron Perera, Senior Managing Director. “The property will not only offer close proximity to the historic downtown Charleston peninsula but will also serve as the ideal commuting location for residents in this ultimate live, work and play destination.”
Aventon Mikasa’s buildings were designed by Scott + Cormia, with interior design curated by Studio 5 Interiors, Inc. Civil and landscaping for the property was created by renowned Charleston engineering firm, Thomas & Hutton. The community is located near the intersection of Clements Ferry Road and Charleston Regional Parkway and is expected to open for leasing in Fall 2024. Since 2019, Aventon Companies has assembled an impressive $2 billion portfolio of ground-up developments bringing over 9,000 Aventon-branded apartment homes to Florida, Georgia, the Carolinas, and the Mid-Atlantic.

HOUSTON, TX – Greystar Real Estate Partners, a global leader in the investment, development, and management of real estate, including rental housing, logistics, and life sciences, announced that move-ins begun at Ltd. Med Center.
“We’re excited to welcome residents to Ltd. Med Center and what it means for Houstonians,” Brian Herwald, Managing Director, Development at Greystar. “We have reinvented renting by making the leasing and renewal processes much easier. We want our residents to live simply and simply live, which they can do here at Ltd. Med Center. We’ve seen an incredible and consistent response since we opened the doors in early March, which just goes to show that there is strong demand and an unmet need for this new type of product.”
Ltd. Med Center features a pressure-free leasing process that includes self-guided or virtual tours and limited rent increases. Renewals will be capped at 3 percent or tied to the 12-month change in the Consumer Price Index, whichever is greater, so residents will always know what their renewal rate will be months in advance. The community’s purpose is to provide lower rents for Houstonians in quality housing.
The community has two base floorplans available in one- and two-bedroom layouts. This uniform design allows for quicker construction that keeps costs—and rents—lower than typical multifamily building projects. The leasing process has also been streamlined and can be completed quickly.
Ltd. Med Center residents can enjoy additional options like a personal garage, reserved parking and storage units. Apartment homes have convenient keyless door entry, app-enabled thermostats in each as well as access to community-wide Wi-Fi, Fetch package delivery and valet trash service.
The community is conveniently located near the Texas Medical Center (TMC) and NRG Stadium in an area that is ready to grow as TMC begins to expand its footprint.

CASTLE ROCK, CO – MG Properties, a private San Diego-based real estate investor, owner, and operator, is further expanding its presence in Colorado, announcing the acquisition of Ridge at Castle Rock Apartments. Formerly known as Springs at Castle Rock, MG Properties purchased the property from Continental Properties for $67,150,000.
Offering one, two, and three bedroom apartments and lofts, Ridge at Castle Rock is a 2019 garden-style asset with contemporary finishes, attractive amenities, and functional floorplans.
The community is located in Castle Rock, an affluent and rapidly growing submarket between Denver and Colorado Springs. The Property is conveniently located within The Meadows Masterplan Community, offering residents access to a wide variety of retail and lifestyle activities and is approximately 10 miles south of Denver’s largest employment hub.
“This acquisition will allow us to further expand our operational presence in the Denver market,” said MG Properties President Jeff Gleiberman. “We believe this submarket is ideally positioned to benefit from the region’s continued growth.”
The seller, Continental Properties, was represented by David Potarf, Dan Woodward, Matt Barnett, and Jake Young of Walker & Dunlop. The property was financed with a mortgage provided by Fannie Mae and arranged by Bryan Frazier and Blake Hockenbury of Walker & Dunlop.

POMONA, CA – Mill Creek Residential, a leading developer, owner-operator and investment manager specializing in premier rental housing across the U.S., announced the construction process is underway at Modera Pomona, a contemporary apartment community in Los Angeles County, which first broke ground in January.
The gated community, which will feature 210 apartment homes and a deluxe package of amenities, is situated on the southeast corner of N. Towne Avenue and E. Bonilla Avenue in Pomona. The strategic location approximately midway between Los Angeles and San Bernardino will position residents in a secluded neighborhood within 10 minutes of a key transportation hub.
“Modera Pomona will offer residents a little bit of everything, from a scenic-yet-commuter-friendly location to amenity spaces that will enable them to relax and recharge,” said Himanshu Brahmbhatt, vice president of development in Southern California for Mill Creek. “We believe the community’s modern, comfortable design will create a friendly atmosphere for a wide variety of residents, and we look forward to offering a best-in-class experience in the neighborhood.”
Three of LA’s primary thoroughfares intersect the area—Interstate 10, Route 57 and Route 71—providing connectivity to the greater metropolitan area. The nearby Pomona (North) Metrolink Station and Montclair TransCenter offer additional commuter options. Within the neighborhood, residents will have access to Montclair Place, a 1.2 million-square-foot regional mall anchored by Nordstrom, one of only two Nordstroms within the Inland Empire.
The area’s prominent employment market features Pomona’s thriving educational hub, which includes California State Polytechnic University, Pomona (Cal Poly Pomona) and Western University of Health Sciences. The prestigious Claremont Colleges, which combine for more than 10,000 students, are located within a 10-minute walk from the community.
Modera Pomona will offer studio, one- and two-bedroom homes with den layouts available. Community amenities will include a resort-inspired swimming pool, rooftop deck with fire pit and grilling areas, hot tub and spa, landscaped courtyards, resident clubhouse, game room, Ping-Pong table, Bocce ball court, conference room, coworking spaces and a club-quality fitness center with cardio equipment, TRX system and yoga/Pilates studio. Residents will also have access to Amazon package lockers, EV charging stations, controlled-access garage parking and several pet-friendly features, including a dedicated dog run, pet park and pet spa.
Apartment homes will include nine-foot ceilings, wood plank-style flooring, energy efficient stainless-steel appliances, quartz countertops, tile backsplashes, kitchen islands, 42-inch custom cabinetry, walk-in closets, in-home washers and dryers, built-in shelving and private patios or balconies. Bathrooms will include soaking tubs, backlit mirrors, double vanities and linen closets. The smart home package will include mobile app entry, programmable thermostats, controlled guest-access technology and bulk Wi-Fi. The community will also feature a variety of native and drought-tolerant vegetation throughout that help conserve water.
Modera Pomona marks Mill Creek’s first development within Pomona, although the company has developed and acquired several assets in the greater Southern California market.

VIENNA, VA – Middleburg Communities announced it has closed on a 13.48-acre land parcel at 9002 Brook Road in Glen Allen, Virginia. Middleburg plans to develop a 310-unit, class-A apartment and rental townhome community on the site ( The Brook ), marking one of only a select few market-rate developments to be built in the area in the last 20 years. Construction of The Brook is slated to begin this month, with the community scheduled to open in late-2024.
We are pleased to have acquired this strategic land parcel just 15 minutes from downtown Richmond, stated Selim Tay-Agbozo, President of Middleburg Development. Northern Richmond has been underserved for two decades now, and the pace of development has lagged the growth the area has experienced during this time. As such, there is a tremendous need for the type of product we plan to build. We look forward to leveraging our institutional-quality development platform to develop this project on time and to providing the residents in the area with a high quality, vibrant community to call home.
The Brook will be developed as a joint venture between Middleburg as development manager and The Resmark Companies ( Resmark ) as investment partner. The apartment part of The Brook will consist of five, 4-story apartment buildings with elevator service totaling 274 units, and will offer a mix of one-, two-, and three-bedroom floorplans. The townhome portion of the community will be made up of six, 6-unit buildings with two- and three-bedroom floorplans complete with private garages. What s more, one of the apartment buildings will have an integrated clubhouse that is open to all residents and a leasing center, while the property will be equipped with a number of premium amenities, such as high-end interiors with upscale finishes, an outdoor swimming pool, a fitness center and yoga studio, grilling stations, a dog park, a pet spa, electric vehicle charging stations and more.
Middleburg is our ideal partner for The Brook development given its extensive track record of generating value for its investment partners, commented Stephen O Neil, Senior Vice President of Investments at Resmark. The opportunity to be part of The Brook was very attractive for us because of the lack of inventory that currently exists in the coveted northern section of Richmond, which possesses many of the qualities that make it an ideal destination to raise a family – strong employment, educational and cultural opportunities. We look forward to delivering a community that matches the character of the area.
Situated along US Route 1 in Henrico County, the location of The Brook is a 20-minute rush hour drive from 60 percent of all jobs in the MSA. What s more, the site is proximate to several other major developments, including GreenCity, a proposed 204-acre, $2.3 billion mixed-use ecodistrict which is slated to break ground this year, and Virginia Center Commons, a 775,000 square foot mall that is currently being redeveloped to add a mix of residential and retail uses alongside an indoor sports and 4,500-seat convocation center. The Brook is the second multifamily community Middleburg plans to develop in the Richmond MSA. Earlier this year, the company announced it will break ground on Hamlet Watkins Centre, a 283-home build-to-rent community in Midlothian later this year.
I am very excited that one of the first development projects I will be overseeing since joining Middleburg is The Brook, said Robin Bettarel, Managing Director of Development for Middleburg s Mid-Atlantic Region. The type of residential community we are building is pretty much non-existent in the submarket, so we expect to see significant demand for The Brook given all that the property will have to offer.

DENVER, CO – Mortenson, a top-20 U.S. builder, developer, and engineering services provider with four decades of experience in Colorado, alongside joint venture partner Pinnacle Partners, celebrated the groundbreaking of Revival on Platte in Denver’s Sun Valley neighborhood, a first-of-its-kind multifamily project that will showcase the full breadth of Mortenson’s develop, design, fabricate and build capabilities.
“We’re thrilled to partner with the Pinnacle team on this incredible opportunity, as both organizations share a commitment to development that addresses core community needs,” said Brian Fitzpatrick, Vice President and General Manager of Mortenson Denver. “We have a long history in Denver of bringing together our develop, design and build capabilities for our project partners. Fabrication is the final piece in this puzzle, and we can’t wait to show the market what our BLUVera team is capable of on this project.”
The project, Revival on Platte, is situated on a .9-acre building site in a designated Opportunity Zone adjacent to the South Platte River. The new 234,156 SF development will feature 200 studio, one- and two-bedroom apartment options across eight stories with two levels of parking. Residents will also have access to an on-site gym, business center and a rooftop amenity deck offering city and mountain views. The entire structure will be built with Mortenson’s cold-formed metal stud, steel-framed structural system with prefabricated interior and exterior walls.
“In these current challenging economic times, we are particularly excited to close on our construction financing and break ground on Revival on Platte with our development partner. This transformative development will bring much-needed housing to Denver’s rapidly growing Sun Valley neighborhood,” said Leo Backer, Managing Partner from Pinnacle Partners. “Revival on Platte serves as a shining example of the potential impact of Opportunity Zones on communities across the country.”
Close to downtown attractions – including universities at the Auraria campus, Meow Wolf and Empower Field – the new multifamily development is additionally near public transit systems and offers direct access to roughly 90 miles of bike trails. Residents will also have access to eight electric cars via a third-party app, further expanding transit options.
“We’re always looking for ways to optimize processes for our clients and for our own development team,” said Taber Sweet, Vice president of Real Estate Development at Mortenson Denver. “This level of vertical integration represents the full manifestation of that goal. The location of this project is also incredible, as it’s adjacent to Denver’s Stadium District Master Plan, and aligns well with the comprehensive development strategy for the Sun Valley community.”

IRVINE, CA – WNC, a leading provider of investment, asset management and development services in the affordable housing industry, announced it has closed WNC Institutional Tax Credit Fund 54, L.P. (Corp 54), a low-income housing tax credit (LIHTC) fund totaling $172.8 million in equity from a total of eight institutional investors. WNC Fund 54 welcomed one new investor and six new development partners.
“WNC has worked tirelessly for the past five decades to provide residents in need with safe, high quality and affordable housing,” said WNC Executive Vice President of Investor Relations Christine Cormier. “We’re pleased to announce the closing of this fund despite current unrest in the banking industry, raising significant equity that we can employ to help address the growing affordable housing crisis throughout the country.”
Equity raised by the fund will be used to construct and renovate 1,331 affordable housing units across 14 properties in Arkansas, Georgia, Idaho, Indiana, Massachusetts Michigan, Minnesota, Nebraska, New York, Ohio, South Dakota, Tennessee and Texas. Some of the funds’ units are set aside for special populations, including veterans, homeless or at risk of homelessness, Native Americans/tribal projects and extremely low-income households.
Among the projects within the fund is Patriot Park, a 60-unit affordable housing development in Fayetteville, Arkansas that is exclusively for veterans experiencing homelessness, low-income veterans and veterans with disabilities, as well as their families. Thirteen of the 60 units are set aside for veterans with incomes of up to 30% of the region’s annual median income. The University of Arkansas for Medical Sciences (UAMS) Northwest hospital campus and a U.S. Department of Veteran Affairs office are located within one-half mile of Patriot Park. The Veterans Health Care System of the Ozarks is easily accessible via Interstate 49. Service providers will provide direct aid and care for Patriot Park residents via visits to the community.
Other notable projects within the fund are Canvas Apartments and New Point Family Apartments. Canvas Apartments is located within the Minneapolis Arts District and will include 23,184 square feet of production and commercial space on the ground floor. The community is located within Minneapolis’ Industrial Living Overlay District, which was established to encourage the rehabilitation and reuse of existing industrial structures and to provide for limited residential and retail uses where such uses are compatible with other uses in the area.
New Point Family Apartments is a historic rehabilitation project for 18 family units in Salem, Massachusetts, for households experiencing or at risk of experiencing long-term homelessness. All units will be reserved for households with incomes at or below 30%, 50% and 60% of the area median income. The project will provide for the renovation of three buildings built in 1915 and 1920 within Salem’s historic The Point neighborhood. Historical elements of the buildings that will be preserved during the planned renovations include interior trim woodwork, replacement of windows and deck railings with aesthetically comparable products and recessing the brick infill that will replace the basement windows.
The properties in WNC Fund 54 will create approximately 1,700 jobs and the aggregate economic impact is expected to generate more than $190 million in local income tax and other government revenue.