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August 15, 2019

Greystar plans upgrades to Shorewood on M.I.

Two years ago, Greystar paid $210 million to a local group for the 645-unit Shorewood Apartments on Mercer Island, one of that city's first and oldest apartment complexes. It was developed on 44 acres in 1949 by Charles Clise, of the local real estate dynasty. Now the Charleston, South Carolina-based Greystar has announced a major new upgrade effort now underway for the 41 buildings at 3209 Shorewood Drive. The cost wasn't divulged.

Greystar's Karyn Grindstaff said in a statement, “We consider this project a wonderful reinvestment in the property.” The company recently renovated the community clubhouse and is now upgrading the apartments and sports pavilion.

Shorewood is close to Interstate 90, but also around six minutes by bike, or a 20-minute walk, to the park-and-ride lot, where Mercer Island Station will open to light rail service in 2023.




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