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Associated Press
02-04-2025
- Business
- Associated Press
Redwood Living, Inc. reaches major milestone: 20,000 apartment homes in growing portfolio
Independence, Ohio, April 02, 2025 (GLOBE NEWSWIRE) -- Ohio-based developer and manager of single-story apartment homes, Redwood Living, Inc., has 20,000 reasons to celebrate an exciting new milestone. The company now has developed and manages a total of 20,000 apartment homes. 'Ultimately, this achievement tells a much bigger story than one number can,' said Steve Kimmelman, founder and CEO of Redwood. 'Every new Redwood apartment home represents an opportunity to enhance lives and demonstrate our unwavering commitment to quality, community and our vision to reinvent the apartment home. We mark this milestone with the deepest appreciation for the remarkable team members, residents, investors and partners who have been part of our journey. Without them, we simply wouldn't be here. We recognize that it's our people who got us here, and it will be our people who carry us into an exciting future. We remain focused on our ambitious goals for 2025 and beyond, continuing to expand, innovate, and create exceptional living experiences for our residents.' Fueled by strong development and expansion, Redwood reached this milestone thanks to the newest additions to its portfolio, including Redwood Galloway in Galloway, Ohio, part of the Columbus metro area. 'Redwood Galloway is home to our 20,000th apartment, so it was only appropriate to install a commemorative plaque at that neighborhood to honor the accomplishment,' Kimmelman said. Here's a look at Redwood's other recent neighborhoods that contributed to reaching the 20,000-home milestone: Ohio Redwood Amherst: New neighborhood Redwood Maumee: New neighborhood Redwood West Jefferson: New neighborhood Redwood Cincinnati Pippin Road: New neighborhood Redwood Sandusky: New neighborhood Redwood Miamisburg: New neighborhood Illinois Redwood Fox River Grove: New neighborhood Redwood Merrillville: New neighborhood Redwood Aurora: New neighborhood Redwood Crystal Lake: New neighborhood North Carolina Redwood Kannapolis: New neighborhood Redwood Hickory: New neighborhood Indiana Redwood Greenfield: New neighborhood Nebraska Redwood Omaha Wenninghoff Road: New neighborhood Redwood Bennington: New neighborhood Redwood Bellevue South 25th Street: New neighborhood Celebrating 20K Homes 'In the real estate industry, everyone says it's about location, location, location. But Redwood believes it's about people, people, people, which is why it was so important to us to make our Redwood Ambassadors the center of this special time in our company's history,' said Kimmelman. Redwood team members and residents spent the month of March celebrating the 20K milestone. Every week, Redwood held a raffle to award $200 to five employees and five residents. The month culminated with celebrations at Redwood's home office and across all its regions. Site teams gathered for activities including bowling, indoor golf, karaoke, and more. Spanning nine states, including Ohio, Michigan, Indiana, Illinois, Kentucky, Iowa, North Carolina, South Carolina and Nebraska, rental homes by Redwood feature the brand's signature single-story layout, two bedrooms, two bathrooms and attached garages. Residents also enjoy that their apartment home comes with its own private entrance and dedicated street address. Some additional amenities and Redwood Advantages that make a Redwood apartment feel like home include spacious eat-in kitchens, large pantries, open floor plans, large closets, washer and dryer hookups, vaulted ceilings, personal patios, pet-friendly accommodations, bonus living space and much more. About Redwood Redwood Living, Inc. (Redwood) is an innovative development and property management company with neighborhoods in Ohio, Michigan, Indiana, Illinois, Iowa, North Carolina, South Carolina, Kentucky, and Nebraska. The success of Redwood's approach to construction, development and property management continues to be validated in new and existing markets. Redwood is a company that believes in its mission, product and amazing people. It creates a simplified, relaxed lifestyle for residents, and offers a rewarding atmosphere for its employees. For more information, visit .
Axios
19-03-2025
- Business
- Axios
Exclusive: UAE, U.S. partnership to invest to power data centers
The Abu Dhabi-based wealth fund ADQ and U.S. heavyweight Energy Capital Partners aim to invest over $25 billion in projects to power data centers and other industrial consumers. Why it matters: Their new U.S.-focused, 50-50 partnership unveiled Wednesday is stark evidence that AI's voracious power demand is attracting fresh capital as the nation's electricity needs rise. Driving the news: A major goal is new, gas-fired generation co-located with data centers, rather than connected to wider power grids, ECP's Doug Kimmelman said. "What we don't want to do is be taking power off of the grid, which certainly could impact, for the average consumer, reliability and prices. So we need additionality," Kimmelman, the firm's founder and executive chairman, told Axios in an interview. What's next: The partnership envisions 25 gigawatts worth of projects, with the first coming online in around three years. One gigawatt is enough to power at least 700,000 homes for a year. Data centers require the predictability that gas plants provide, but could be "selectively" supplemented with renewables and storage, Kimmelman said. The U.S. will be the main focus for building generation and related infrastructure, but the partnership may venture into international markets later, the announcement states. The partners are initially planning to provide a combined $5 billion. The big picture: Analysts see U.S. power demand poised for a prolonged rise after many years of stasis. A late 2024 Energy Department study projects data centers accounting for 6.7% to 12% of U.S. electricity use by 2028, up from 4.4% in 2023, though estimates vary and it's a moving target as AI evolves. Data centers for AI and other powerful computing are the snazziest but far from the only thing behind the rise. Electric vehicles, new manufacturing and other sectors are all in the mix. State of play: It's a new partnership, but the two entities are hardly starting from scratch. "We have relationships with the hyperscalers, and certainly ADQ and UAE, they have significant relationships with the hyperscalers as well," Kimmelman said. The intrigue: Kimmelman said Trump 2.0 economic and infrastructure policies — including support for new fossil fuel generation and pipelines — provides strong tailwinds. "The environment has changed dramatically to encourage what we're doing," he said. "This is also going to spur production of natural gas, which is also on the president's agenda," he said. What we're watching: When and where the planned projects take shape.
