The development will have a cap on any rent rate increases. Credit: rawmn via Shutterstock.

US-based real estate developer Greystar Real Estate Partners has broken ground on Ltd Spring Run, the first property to be constructed entirely of units manufactured in Greystar’s Modern Living Solutions (MLS) factory.

This 312-unit project is one of several upcoming developments by Greystar’s specialised brand for impact housing, Ltd by Greystar, which focuses on providing more affordable housing alternatives across the US.

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MLS managing director Andy Mest said: “We are excited about the increase in production, and as this growth continues, we are looking for best-in-class talent to join our growing team here at the factory in Knox.

“With the ground-breaking of Spring Run, we are eager to witness the realisation of our first MLS-built community and actively seeking suitable land to bring more Ltd-branded communities to life.”

Claimed to be distinct from the Ltd brand, Greystar expects to create certainty of housing for renters by limiting rent increases by no more than the consumer prices index or 3%.

Greystar’s brand and customer experience senior managing director Scott Berka said: “At Greystar, we are very aware of the acute undersupply of housing in markets like Pittsburgh.

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“Ltd Spring Run is the first of many communities under Greystar’s Ltd brand that will provide high-quality housing at an attainable price point to critical workers like the teachers, nurses, and firefighters who are integral to our communities.”

The construction site for Ltd Spring Run covers approximately 24 gross acres in Coraopolis, Pennsylvania, with the first units planned to be delivered in June next year.

The site is a seven-minute drive to Pittsburgh International Airport and a 25-minute drive to Downtown Pittsburgh.