International Real Estate Developer Is Building 525 Units Off Old Ivy Road

Artist rendition of Old Ivy Residences being built by Graystar in Charlottesville.

Did you know that Greystar Real Estate Partners is developing a multifamily project with 336 one, two and three-bedroom apartments and 189 three-bedroom detached homes and townhomes at the intersection of the 250 Bypass and Old Ivy Road?

The project is called Old Ivy Residences, a build-for-rent community on 35 acres that will feature 525 total units, two clubhouses, two swimming pools, two fitness centers, playgrounds, sports courts, dog parks, a walking trail, a putting green, a coworking space, a library, a golf simulator and a food and sundries market.

The first units are slated to deliver in Q2, 2026.

Greystar is an international real estate developer based in the United States. As of 2023, Greystar had more than $76 billion in gross assets under management across 17 countries.

Greystar is legitimately building a small town on the 250 Bypass. Look at the picture.

Are Charlottesville and Albemarle County prepared for the incremental infrastructure strain on schools, roads, public utilities and quality of life that comes from a project of this magnitude?