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Greystar
“ All of this means we need to manage the timelines on our projects differently . For each project , we ’ ll spend three years , if not longer , getting them entitled and approved . We have to factor that in when we ’ re planning a development in either territory . In addition , we strive to work closely with local communities , who can delay the project if they feel it will impinge on the surrounding environment .
“ A lot of these restrictions are there for a reason . Many of them are very well-meaning , especially those related to climate control . It ’ s equally important to us that our work has a positive impact on the local community , and there are a number of measures we take to ensure that ’ s the case . To begin with , we always make sure there ’ s an allotted amount of affordable housing in our developments .
“ There ’ s also a second tier of affordable housing , sitting somewhere between government regulated affordable homes and our luxury products — we call this attainable housing . It ’ s not ultra-luxury , but it provides some luxury elements at a lower price point . These homes are nice , well laid out , and they offer something new to the market . The buildings have less amenities than our luxury units , which means we can keep building costs down and ensure lower rates for tenants ,” he explains .
This people-first approach to property development has secured Greystar ’ s longterm success . Reflecting on the company ’ s guiding principles , Jesse concludes : “ In the end , I think it comes down to budget , safety , quality , and schedule . If we accurately hit those four points , I ’ ll consider the project a success . It ’ s such an accomplishment to deliver on a project and see the community that it creates . It takes time to build things that last , and as long as we keep that in mind , there will always be new opportunities available to us .” ■
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