Campus Housing Revitalization Case Study

UH4 Project - University of Washington

Project Overview

Greystar is working with the University of Washington to execute a residential renovation and redevelopment strategy that will dramatically increase housing opportunities and affordability for UW students, faculty, and staff. Components of the UH4 Project include:

Acquisitions — Radford Court & Nordheim Court: In May 2024, Greystar acquired two properties using tax-exempt bond financing totaling $183 million: a 399-unit multifamily community and a 460-bed midrise student housing property, both originally built in 2003. Greystar assumed property management responsibilities for both communities and is progressively implementing value-add renovations to residential units and common areas.

New development — Blakeley Village & Laurel Village: Greystar will redevelop these two sites into modern student and family housing, with construction beginning in fall 2025 and completion expected in 2028. In May 2025, Greystar closed tax-exempt bond financing on the $386 million project. Due to strong investor demand—6.5 times oversubscribed—the offering secured a lower interest rate and increased debt service coverage, enhancing the project's financial feasibility.