Essential Housing
US In the US, Greystar’s Essential Housing strategy continues to target delivering high-quality rental homes affordable to households earning between 70–90% of area median income. This population includes teachers, healthcare professionals, and other essential workers who remain underserved by traditional market rate offerings. Across the US, several Essential Housing developments advanced through lease-up or preconstruction phases in 2025. While most communities are still in the early stages of leasing, initial data suggests that projects are tracking toward their targeted affordability bands. Additional demographic and affordability indicators will be available as occupancy stabilizes in 2026, allowing for enhanced reporting on essential worker representation. A core enabler of our Essential Housing model in the US is our modular development program Modern Living Solutions (MLS), which kept maturing in 2025. This vertically integrated approach allows us to control construction processes more closely, with the goal of improving build quality and speed while lowering worker injury rates and development costs relative to conventional construction. The program’s factory in Knox, PA was intentionally developed to be an employer of choice in the region, offering attractive wages and benefits. As the factory grew, Greystar actively sought input from employees and prospective hires, many of whom identified access to childcare as a major barrier. In response, Greystar partnered with the YMCA to build a dedicated onsite childcare center, which is planned to open by the end of 2026. The center will provide low-cost childcare with priority access for factory employees while also serving the surrounding community. Even ahead of opening, it is expected to be a powerful recruitment and retention tool, helping working families overcome a key obstacle to stable employment.
The Netherlands In The Netherlands, our Essential Housing strategy continued to scale meaningfully in 2025, with construction breaking ground on several major developments that together will target delivery of over 2,000 new homes beginning as early as 2027. In 2025, the portfolio grew to include three large developments in Leiden, the Hague, and Utrecht, projects that form a significant step toward the program’s goal of providing approximately 4,600 Essential Housing homes by 2028. All communities within the venture align with The Netherlands’ regulated and mid-rent system, which sets clear rent caps and income eligibility requirements. This framework helps ensure homes remain affordable and accessible to essential workers, while the extensive use of modular and prefabricated construction techniques enhances safety and shortens onsite build times, helping deliver cost-effective homes more efficiently. Working closely with municipalities and employer networks, the team shares information about upcoming availability in advance, helping essential workers secure housing in the communities where they are most needed. Environmental considerations are embedded throughout the venture as well. Projects are targeting BREEAM In-Use Excellent and incorporate efficient heat pump systems with underground thermal storage, supporting low carbon heating and cooling while reducing the risk of summertime overheating. 2k+ ~4.6k target delivery of new homes beginning as early as 2027 goal for Essential Housing homes
Modern Living Solutions Factory | Knox, Pennsylvania
by 2028
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