Greystar Kicks Off Construction on Innovative Living Space
Greystar's New Venture into Hybrid Living
Greystar, known for its leadership in residential real estate, is embarking on an exciting new project with the construction of Old Ivy Residences, a unique hybrid multifamily and build-for-rent community.
Introducing Old Ivy Residences
This new development will feature a total of 336 garden-style apartments along with 189 build-for-rent units that encompass detached homes and townhomes. The community stands out with its commitment to inclusivity, allocating 15 percent of its residences for families earning up to 80 percent of the area median income.
A Unique Community Space
The expansive property promises over eight acres of expertly curated greenspaces. Residents can look forward to amenities such as walking trails, playgrounds, sports courts, dog parks, a putting green, and two swimming pools, all designed to promote health and wellness.
Convenient Proximity to Education and Entertainment
Situated conveniently at the intersection of major routes, Old Ivy Residences is in close proximity to renowned educational institutions, including the University of Virginia's Darden School of Business and School of Law, both recognized for their excellence. Future residents will also enjoy easy access to downtown dining and entertainment venues, making it a vibrant place to live.
Community Plans and Construction Timeline
The project began construction recently, with the first units anticipated to be completed by the second quarter of 2026. This timeline reflects Greystar's dedication to quality and timely delivery of new housing solutions.
About Greystar
Greystar stands as a fully integrated global real estate company, specializing in property management, investment management, development, and construction of institutional-quality rental housing. The headquarters, located in Charleston, South Carolina, position Greystar as the largest operator of apartments in the United States, overseeing nearly $315 billion in real estate across around 250 markets worldwide. Founded in 1993 by Bob Faith, Greystar aims to deliver unparalleled service in the residential real estate sector. For further information, please visit our website.
Frequently Asked Questions
What is Old Ivy Residences?
Old Ivy Residences is a new hybrid multifamily and build-for-rent community being developed by Greystar.
Where is Old Ivy Residences located?
The community is situated at the intersection of US 29 and Old Ivy Road, offering access to local universities and downtown amenities.
What types of housing will be available at Old Ivy?
There will be garden-style apartments alongside detached homes and townhomes, catering to a variety of living preferences.
What amenities can residents expect?
Residents will have access to greenspaces, playgrounds, sports courts, dog parks, swimming pools, and fitness facilities.
When is the expected completion date for Old Ivy?
The first units are expected to be delivered in the second quarter of 2026, aligning with Greystar's construction plans.
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