________________________________________________________________________________________ Redwood Living Inc .
“ We expanded to Columbus , Indianapolis , and the Detroit metro area , a lot of which was fueled by the housing recession . Banks had to dispose of bad deals they had made on condo , apartment , and subdivision projects , which
ultimately enabled us to hit our 10,000 th unit by January 2019 . Interestingly , we hit our 16,000 th by June of this year , which , when you look at it , is an incredible trajectory of growth .”
“ We ’ re currently around 18 projects a year ,” Kevin continues , “ and we ’ re doing everything from closing the necessary construction loans on the plots , developing sites , and building the structures . In 2020 , we purchased two construction companies to bring everything in-house . As I mentioned , we ’ ve always been a management company , so we have a broad set of capabilities .”
Cosy and quiet
Up until 2019 , each of Redwood ’ s projects had their own unique names . The choice to bring all of Redwood ’ s developments under the umbrella of ‘ One Redwood ’ was made strategically , to strengthen the brand and make it more visible as the company continued its expansion . Meaning that whether a client moved into a Redwood apartment home in Ohio , North Carolina , or Illinois , they ’ re going to get the same excellent product and service .
“ The decision to rebrand catapulted us into being a household name across the Midwest , to the point where municipalities refer to single-story apartments as ‘ Redwoods ’ – we ’ ve literally monopolized the sector . That speaks to what really makes us unique against our competitors , our offering : a high-service housing option that grants people more freedom in their lives .”
“ We build single-story , two-bedroom , two-bathroom apartments with private entrances and attached garages ,” Kevin explains . “ Everything ’ s on one floor , so there are no steps to worry about , and our neighborhoods are designed with peace and quiet in mind . We don ’ t have amenities like playgrounds , pools or gyms , but people are generally attracted to our size . Our neighborhoods contain around 120 to 150 apartment homes , not several hundred as other developers opt for . Although we do have some younger professionals , our residents often fall into the category of what we call ‘ downsizers .’ They ’ re the people who are looking for the feel of a single-family home , without all the stress that comes with homeownership .”
Additionally , for the growing market of people who either can ’ t afford to get on the homeownership ladder due to rising interest rates , or don ’ t want to be
modernhb . com 51