Greystar opened the doors to Ltd. Med Center in Houston last year, marking the developer's first Ltd.-branded apartment project.
Greystar launched the brand to provide more attainable housing for middle-income renters affected by the lack of options. Greystar plans to keep the Ltd. units affordable by using products from its recently opened Modern Living Solutions factory where it makes prefabricated modular apartments.
Modular construction offers several key advantages that lead to a product that is more sustainably produced and provides a high quality and more affordable option to renters.
The Ltd. Med Center apartment project has two base floor plans with a uniform design that allows for quicker construction that keeps costs — and rents — lower than typical multifamily projects.
In recognition, the project was selected as the winner of the 2024 CoStar Impact Award for multifamily development of the year in Houston, as judged by a local team of real estate professionals familiar with the market.
About the Project: Ltd. Med Center is located near the Texas Medical Center and NRG Stadium in an area that is ready to grow as TMC begins to expand its footprint. The amenities include personal garages, reserved parking and storage units, keyless door entry, app-enabled thermostats, smart locks, package delivery and valet trash service.
What the Judges Said: Ltd. Med Center's "innovative construction method and commitment to rent stability significantly contribute to the vibrancy and economic activity in the medical center area, making it a catalyst for change in the multifamily development sector," said Bill McGrath with LandPark Advisors.
They Made It Happen: Greystar's team included David Reid, Brian Herwald, Remy Midkiff, Brad Harrell, Aaron Herwald, Betsy Valdes and Brooke Dollen.