Redwood Living, Inc. marks 24 milestones in 2024

Independence, Ohio, Jan. 14, 2025 (GLOBE NEWSWIRE) — From new neighborhoods and new markets to hundreds of new team members and investor partners, Redwood Living, Inc. has much to celebrate from 2024.

“I’m honored, humbled and extremely proud as we look back on Redwood’s collective accomplishments throughout 2024,” said Steve Kimmelman, founder and CEO of Redwood. “And while our goals and achievements vary year to year, our overarching mission of enriching the lives of those who choose to rent throughout suburban America will always be true. I extend my most heartfelt gratitude to the team members and partners who shared that journey in 2024, and for the past three decades. We head into 2025 with great optimism and excitement.”

Below are some Redwood highlights from 2024.

A Growing Portfolio

Throughout 2024, Redwood welcomed 12 new apartment neighborhoods that opened or are nearing construction completion across 6 states — Ohio, Michigan, Nebraska, Indiana, Illinois, and North Carolina.

In addition to new neighborhoods, 5 Redwood Neighborhoods expanded this year, which included new apartment homes in locations across Michigan, Ohio, North Carolina and South Carolina. In total, more than 2,400 apartments were added to new and existing neighborhoods.

With thousands of new apartment homes came thousands of new residents. Redwood welcomed 7,610 residents to new and existing neighborhoods throughout 2024.

Redwood’s grand opening and development activity was fueled greatly by the partnership of new and existing investors. In 2024, Redwood welcomed 114 new investors and raised more than $126M of capital, closing 10 deals throughout the year.

Looking ahead, Redwood’s plans call for continued growth and expansion, with the addition of new single-story apartment homes in current and upcoming suburban markets. The company anticipates adding 10 new neighborhoods and 2 new phases to existing neighborhoods across 4 of the states where Redwood currently operates. The company’s strong momentum is propelling Redwood to reach its goal of 20,000 completed homes by early 2025.

Redwood’s development success also attracted significant media attention from dozens of local, regional, and national outlets, including GlobeSt, Yahoo, and Crain’s Cleveland Business.

Last but not least, for the fourth consecutive year, Redwood placed in the top 20 nationally for online reputation management (Division III) in the annual Division ORA® Power Rankings. Overall, Redwood continues to receive exceptionally high online reviews. Redwood’s average Google rating is 4.7 (compared to the industry average 3.8) and an even higher average 4.8 rating on Apartments.com.

An Award-Winning Company Culture that Attracts Top Talent

The Redwood team expanded by 197 new ambassadors in 2024, bringing the total employee count to 646.

Redwood prioritizes opportunities to educate, train, recognize and reward team members to help build satisfying careers and encourage advancement. In 2024, Redwood granted $54,431 in tuition assistance for employees looking to pursue degrees, certifications, attend classes and more. Redwood was also proud to promote 115 team members across the company throughout the year.

Those looking for a new career in the new year can find a range of opportunities at Redwood that cater to a variety of skill sets and career stages.

Throughout 2024, Redwood was continually recognized for excellence by various national and regional organizations, particularly in the category of company culture:

• The National Apartment Association named Redwood a 2024 NAA Top Employer. The award recognizes member organizations that foster environments of collaboration, innovation and hard work.
• For the seventh year in a row, Redwood was certified a Great Place to Work® and was awarded a Top Workplaces award by Cleveland.com and The Plain Dealer. The awards reflect positive employee feedback about their workplace experience and showcase the company’s standout culture.
• Redwood was also named a 2024 NorthCoast99 award winner by ERC, the Employers Resource Council. The award honors 99 great Northeast Ohio workplaces for top talent. This is the second consecutive year that Redwood received this prestigious award.
• For the third year, Redwood earned a place on the Best Workplaces in Real Estate™ list. Compiled by Fortune and Great Place to Work®, securing a spot on this list means that Redwood is one of the best companies to work for in the country.

New and Impactful Ways to Serve Redwood’s Local Communities

Redwood takes pride in giving back and found many ways to do so throughout 2024.

Redwood invited its employees, residents, and investors to nominate a verified 501(c)(3) organization for Redwood to support in the form of volunteer time, promotion, and monetary donations. The company donated a total of $45,000 to six deserving charitable organizations. Here’s a closer look at the program’s impact in 2024. In total, Redwood has contributed more than $100,000 to worthy organizations via the Redwood Cares program over the past three years. In addition to Redwood Cares, the company made another sizable $15,000 donation to local organizations chosen by Redwood investors at the company’s annual investor gala.

While Redwood’s annual giving initiative is the company’s largest philanthropic effort, Redwood Ambassadors embrace the spirit of giving back and Redwood Cares all year long. Thanks to the company’s volunteer time off policy, team members can be found volunteering everywhere from animal shelters to food banks, and often host special events to benefit local nonprofits in neighborhoods throughout the portfolio. In 2024, Redwood team members volunteered for over 2,000 hours.

Redwood is also proud to partner with One Tree Planted, an environmental nonprofit, by donating $1 on behalf of each new Redwood employee, resident and investor to plant a tree in an area in need of reforestation. In 2024, 7,751 trees were planted thanks to these efforts.

Redwood’s plans for 2025 include strategic growth within its portfolio, adding to its team of ambassadors and investor partners, and continuing to find ways to make an impactful difference in the communities it serves.

Follow along with Redwood in 2025 on LinkedIn, Facebook, X and Instagram.

About Redwood Living, Inc.
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 byredwood.com.

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• Redwood celebrates the close of a successful 2024

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