Nation's leading multifamily developer expands into infrastructure

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.”

The U.S. is ill-prepared to provide adequate housing for the growing ranks of older people, according to a report from Harvard University’s Joint Center for Housing Studies. Over the next decade, the U.S. population older than 75 will increase by 45%, growing from 17 million to nearly 25 million, with many expected to struggle financially.

Almost a million apartment units are currently under construction in the U.S., says Apartment List.

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