Greystar Breaks Ground on 305-Residence South Charlotte Apartment Community

CHARLOTTE, N.C., June 28, 2023 /PRNewswire/ -- Greystar Real Estate Partners, LLC ("Greystar"), a global leader in the investment, development, and management of real estate, including rental housing, logistics, and life sciences, today announced that it is breaking ground on a brand new community in Rea Farms called Laurent.

"Laurent is going to bring a sophisticated and elevated experience that offers the true lifestyle comforts typically found in the hospitality industry," said Mike Sullivan, Greystar Director of Development. "The location is fantastic as it sits within the Rea Farms suburban center, which features over 250,000 sq. ft. of convenient and walkable retail with the Laurent being seamlessly woven into the planned community park extension."

Greystar overcame several challenges with this new development. The parcel was initially zoned for office space. In cooperation with Lincoln Harris, Greystar was able to successfully rezone the site to include apartments.

The community will have three- and four-story buildings and will feature a variety of spacious floor plans, including studio, one-, two- and three-bedroom apartments, as well as townhomes. Each apartment home will have high-quality finishes such as a luxury closet system and tile floors in the bathrooms. All corridors are air conditioned and will have elevators, an uncommon, but desired feature in three-story apartments. Laurent's highlight will be a third-floor amenity terrace that will have views of the community park, as well as a robust social calendar geared toward enhancing the resident lifestyle experience.

Greystar selected architecture firm Dwell Design Studio, interior designer Cline Design and civil engineer and land planner Land Design to bring the vision for Laurent to life. Greystar's internal construction team will be the general contractor. U.S. Bank is providing construction financing for the project. With the completion of Overture Providence in 2018, this will be Greystar's second project within Rea Farms and Greystar's 12th development in Charlotte. The community's targeted completion date is early 2025, with pre-leasing beginning in the second half of 2024.

About Greystar
Greystar is a leading, fully integrated global real estate company offering expertise in property management, investment management, and development services in institutional-quality rental housing, logistics, and life sciences sectors. Headquartered in Charleston, South Carolina, Greystar manages and operates over $250 billion of real estate in 234 markets globally with offices throughout North America, Europe, South America, and the Asia-Pacific region. Greystar is the largest operator of apartments in the United States, manages over 817,000 units/beds globally, and has a robust institutional investment management platform comprised of more than $69 billion of assets under management, including approximately $29 billion of development assets. Greystar was founded by Bob Faith in 1993 to become a provider of world-class service in the rental residential real estate business. To learn more, visit www.greystar.com.

SOURCE Greystar