A Year of Growth and Challenges: Looking Back at 2023

By Clay Grubb, CEO

Our 60th anniversary year was marked by significant accomplishments by the Grubb Properties team. While the financial environment for multifamily development was difficult, Grubb Properties continued to make great strides in expanding essential housing across the country, opening new Link Apartments℠ communities in Charlotte, NC, Washington, DC, and Memphis, TN.

Among our achievements in 2023:

Celebrating Grubb Properties’ 60th Anniversary

In 2023, Grubb Properties celebrated its 60th anniversary. While the company has evolved significantly over the course of 60 years, the values upon which we were founded have remained the same. We prioritize the development of sustainable communities while giving back and investing in projects with community, social and environmental benefits. The commemorations culminated with a company-wide celebration, bringing together all our Link Apartments℠ communities and offices.

Grubb Properties’ Approach to Parking Garners Attention

The Wall Street Journal, Bloomberg, and Fast Company all highlighted Grubb Properties’ unique approach to parking, focusing on the impact of parking on rent levels, Link Apartments℠ CYKEL, our car-free development in Charlotte, and our strategy of transforming aging office parks into vibrant multifamily communities.

Link Apartments℠ QPN Underway in New York

The first Link Apartments℠ community in New York commenced construction. Located in Long Island City in Queens, Link Apartments℠ QPN will bring more than 400 units to the strapped New York market and will be the first Link Apartments℠ community to open in New York when it welcomes residents in 2025. In addition, Grubb Properties is participating in New York’s Zoning for Accessibility program, gaining approval for additional density in exchange for constructing a 24-hour accessible entrance to the adjacent Queens Plaza North subway station.

Checking In with Young American Renters

Once again working with Wakefield Research, Grubb Properties conducted its second annual State of the Young American Renter survey. In this year’s survey, we were gratified to see that young American renters are largely satisfied with their apartments, and, more importantly, believe that their living situation contributes to the overall sense of well-being. They also continue to prioritize environmental factors when selecting an apartment.

Recognition and Awards for Grubb Properties Projects and People

From national media to local community groups, Grubb Properties was well-recognized in 2023. Among our awards:

• Clay Grubb was named to GlobeSt.com’s Multifamily Influencers list
• The Chamber for a Greater Chapel Hill/Carrboro presented Grubb Properties with the Community Impact Award for our work in revitalizing downtown Chapel Hill with the new Innovation District as well as our Glen Lennox community.
• Link Apartments℠ Montford II was named a finalist for the Charlotte Business Journal’s Heavy Hitters Award.
• Elizabeth Palmisano and her #NoDaCloudWall won Queen City Nerve’s Critics Pick award for Best Public Art. Her art installation on three sides of the soon-to-open Link Apartments℠ NODA 36th’s parking garage integrates wishes from the community and provides a vibrant new landmark for the NoDa community. 

Looking ahead to 2024, we look forward to continuing to expand essential housing across the country, with Link Apartments℠ CYKEL in Charlotte, NC, Link Apartments℠ Calyx in Chapel Hill, NC, and Link Apartments℠ Four12 in Oakland, CA, all expected to open this year.

Most importantly, I want to offer heartfelt thanks to our investors and our employees. Your support remains invaluable as we navigate the current economic environment. Thank you, and here’s to a great 2024!

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