Safety
Safety is not only a regulatory requirement but a core business enabler, reducing injuries, lowering downtime, and improving productivity. At the enterprise level, Greystar continued strengthening safety governance in 2025, reinforcing a consistent, global approach across business lines and regions. A key milestone this past year was the formal establishment of the Greystar Safety Council, which brings together global leaders from across business units to share best practices and align on company wide priorities. These efforts are supported by close coordination between enterprise risk teams and operational safety teams in the field, ensuring that insights identified at the firm level are translated into practical actions at the site level, while also allowing operational teams to surface emerging risks and challenges. As part of this, the enterprise risk team worked with operational leaders to conduct a deeper root cause analysis of the organization’s most common injury categories. Using insights from external insurers and international inspection practices, we identified key risk drivers, including slips, trips and falls, ladder and overhead work. These efforts informed more targeted training, clearer supervisory expectations, and improved hazard mitigation and response, including an investment in a “safe shoe” program to reduce slips, trips, and falls across property management.
Spotlight: Improving Safety with Target Zero Since launching in 2023, Target Zero, Greystar’s US construction safety program and long-term aspiration to achieve zero OSHA citations and zero injuries across the US real estate portfolio, has evolved from a new program into an embedded element of daily construction practice. After a year of rollout and adjustment in 2024, 2025 marked a shift toward stronger engagement, heightened expectations, and more rigorous and consistent safety reviews across projects. Our enhanced safety dashboard played a central role this year by improving the transparency and consistency of how risks are identified and managed across construction sites. As teams have engaged with kickoff meetings, safety newsletters, and safety quizzes, we have seen a more rigorous approach to evaluating potential hazards and a more comprehensive identification of risks during site reviews. This increased scrutiny is reflected in the Quarterly Safety Review pass rate, a standardized assessment of safety practices, hazard identification, and compliance with Greystar protocols conducted across projects, which shifted from ~92% in 2024 to ~89% in 2025. This shift does not indicate a decline in performance but instead demonstrates that teams are applying more stringent criteria and evaluating sites more robustly. By identifying issues earlier and addressing them more consistently, the program is strengthening overall jobsite safety and helping reduce the likelihood of injuries. In fact, all OSHA inspections this year concluded with no citations after abatement, highlighting the rigor of our program.
Throughout 2025, we worked to integrate safety into early-stage project planning. Kickoff meetings, introduced last year, are now consistently used to align cross- regional leaders and project teams on risk mitigation strategies, safety requirements, and expectations before work begins. Their increasing consistency and quality have been one of the strongest drivers of improved engagement and ownership across teams. A notable improvement in 2025 was the deeper integration of subcontractors into the program. All subcontractors are now required to meet the standards outlined in the Target Zero manual and provide site-specific safety plans before mobilizing. This has created more consistency across sites and reinforced shared accountability for risk mitigation. Our super region Safety Awards foster healthy competition and celebrate exemplary team performance. In 2025, the following projects were recognized for outstanding adherence to Target Zero standards and leadership onsite: • East Coast (Mid-Atlantic): Recognized for exceptional communication, clean and organized site conditions, and proactive risk mitigation. • Central (Austin, TX): Honored for strong housekeeping, disciplined trade partner management, and consistent accountability with partners. • West (Southern California): Awarded for exemplary subcontractor alignment, rigorous weekly inspections, and sustained focus on hazard identification and mitigation.
23
Powered by FlippingBook