“We set out with the goal of reaching 16,000 occupied apartment homes in 2023, and we achieved that goal well before year-end,” said Steve Kimmelman, Redwood’s CEO. “We look to finish 2023 from a position of strength and with great optimism for the coming year. We anticipate another ambitious period of growth throughout 2024 in both new and existing markets, as we welcome thousands of new residents to Redwood Neighborhoods.”

Recently, Redwood celebrated consecutive openings of neighborhoods across Ohio, Illinois, and Michigan. Each ribbon cutting event was well attended by city officials, local chambers of commerce and Redwood team members, and provided a prime opportunity to celebrate these important milestones and the impact that the neighborhoods will have in their communities for years to come.

Recent openings include:

Redwood Brunswick Hills
Location: 4356 Red Ivy Drive in Brunswick Hills, Ohio
Number of apartments: 103
Number of floor plans: 5
Square footage range: 1,294-1,620
Monthly rent: starts at $1,749

Redwood Chardon
Location: 155 7th Avenue in Chardon, Ohio
Number of apartments: 91
Number of floor plans: 3
Square footage range: 1,294-1,381
Monthly rent: starts at $1,600

Redwood Obetz
Location: 3195 Sunflower Place in Obetz, Ohio
Number of apartments: 156
Number of floor plans: 5
Square footage range: 1,294-1,620
Monthly rent: starts at $1,899

Redwood Batavia Tealtown Road
Location: 4516 Redtinder Lane in Batavia, Ohio
Number of apartments: 100
Number of floor plans: 8
Square footage range: 1,294-1,709
Monthly rent: starts at $1,649

Redwood Groveport
Location: 5056 Sunflower Drive in Groveport, Ohio
Number of apartments: 140
Number of floor plans: 7
Square footage range: 1,294-1,620
Monthly rent: starts at $1,799

Redwood Volo
Location: 901 Wood Rose Dr
Number of apartments: 132
Number of floor plans: 6
Square footage range: 1,294-1,620
Monthly rent: starts at $2,649

Redwood Comstock Township
Location: 4895 Red Willow Trail
Number of apartments: 189
Number of floor plans: 6
Square footage range: 1,294-1,620
Monthly rent: starts at $2,224

All the grand opening and development momentum is attracting significant media attention. Redwood has been featured in dozens of local, regional, and national outlets. Below is just a sample of some of the most recent coverage:

• Warren County Post: 110 Single-Story Apartment Homes Coming to South Lebanon
• WCMH-TV: Apartment complex approved for Delaware’s 270-acre Addison Farms development
• The Oakland Press: Rochester Hills: Building underway adds luxury apartments and new neighborhoods
• Yahoo Finance: Redwood Living, Inc. expands across Chicagoland with two new apartment neighborhoods
• Cleveland.com: Redwood officially opens its new neighborhood in Brunswick Hills Township
• The Gazette: Redwood Apartment Neighborhoods expand to Brunswick Hills
• Modern Home Builders: With its inherent expertise in property management, Redwood Living, Inc. (Redwood) is providing a leading rental housing solution across the Midwest and Carolinas
• Newswire: Redwood Living, Inc. recognized nationally for reputation management excellence
• World Construction Network: Work begins on Redwood Bellevue South 25th Street development
• MarketWatch: Redwood Living, Inc. to open first Nebraska apartment neighborhood
• MLive: The New Redwood Apartment Neighborhood in Comstock, MI

Redwood has been developing neighborhoods of single-story apartment homes for more than three decades and manages its properties with a long-term vision. Redwood investors benefit from this more predictable passive investment and income stream, allowing them to preserve capital while investing in multifamily projects. Plus, the Redwood team is involved with every stage of each neighborhood’s development and management—from land acquisition, through construction and on to daily operations.

For those interested in learning more about investment opportunities with Redwood, including current and upcoming deals, fill out the contact form below or call 216.360.9441 to speak to a member of the Investor Relations team.