Daily Newsletter

17 August 2023

Daily Newsletter

17 August 2023

Greystar breaks ground on Ltd. Spring Run project in Coraopolis

The site will offer quick access to Pittsburgh's airport and its central business district.

August 17 2023

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.

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.

“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.

AI adoption in the construction industry is gaining traction and will continue to grow over the coming years

The construction industry is at a disadvantage when considering AI adoption as it is a difficult industry to digitalize. The vast and complex data sets needed for building information management (BIM) have been historically difficult to process. However, this is becoming possible due to developments in chips and cloud computing. AI applications in the construction industry can facilitate planning, design, modeling, safety, site monitoring and maintenance, and emissions tracking. The increased interest in generative AI has also been felt in the construction industry.

Newsletters by sectors

close

Sign up to the newsletter: In Brief

Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Thank you for subscribing

View all newsletters from across the GlobalData Media network.

close