ELi Mastracci, CCIM’s Post

Greystar will open its first U.S. modular project, a six-building apartment complex in Pennsylvania, and is building six more. Modular housing development has long been a fringe part of the U.S. market, primarily limited to lower-budget or emergency housing. Now, the country’s largest apartment operator is trying to change that.

America's largest apartment operator, Greystar, just opened its first modular apartment complex -- and it's definitive proof of how an integrated modular approach like ours can deliver multifamily projects significantly faster and cheaper than conventional construction: What: ✅ Greystar's first modular apartment complex, a 312-unit development in Coraopolis, PA ✅ Modular design and modular fabrication at Greystar's Knox, PA factory Results: ✅ 40% faster construction than Greystar's traditionally-built projects ✅ 10% cheaper ✅ 90% less waste ✅ 2/3 less on-site labor required for finish work This integrated modular design, fabrication, and assembly is exactly what the Cloud Apartments platform provides -- with even greater cost savings ( 30!). Who's next? We're excited to partner! Mill Creek Residential Trust LLC Trammel Crow Residential Svcs Wood Partners Hines Related Companies Hillpointe Avalon Alliance Residential Company The Michaels Organization Core Spaces D.R. Horton - Multifamily The Garrett Companies Roers Companies Thompson Thrift SoLa Impact Woodfield Development Willow Bridge Property Company LDG Development, LLC The Bainbridge Companies Advantis Development Northwood Ravin JPI Toll Brothers Fairfield Residential Hawthorne Residential Partners Holland Partner Group OHT Partners, LLC Aventon Companies Evolve Companies cc: Curtis Wong Apoorva Pasricha Tim Connors Matthew Rapa Sara Torrelko #industrializedconstruction #multifamily #realestatedevelopment #modulardevelopment #prefabhomes #offsiteconstruction #innovationinconstruction #affordablehousing #urbandevelopment #workforcehousing #modularhomes

The time has come for modular apartment construction to be a solution to help solve America's housing shortage. Greystar has achieved acceptance from state and local building officials to use its alternative modular apartment construction method, which saves time and reduces costs. Elm Tree Communities #multifamily #ctapartments #connecticut #CRE #multifamilyinvesting

America’s Biggest Apartment Owner, Greystar, Takes a Leap Into #ModularHomes: https://lnkd.in/duex5TJC Using #modularconstruction, this project was roughly 10% cheaper for Greystar to build relative to a traditional #multifamily project in nearby #Pittsburgh. The apartment units have between one and three bedrooms and range in size from 662 square feet to 1,373 square feet. Says Jose Luis Blanco Alvarez, a senior partner at McKinsey & Company, of this and similar projects: “We’ve seen modular as a choice. I think we’re past beyond that. It’s just a pure necessity.” Modular Building Institute #offsiteconstruction

"In Western Europe, small new apartment buildings of just three stories typically include a small elevator (and sometimes buildings of just two stories as well). These types of buildings have almost never had elevators in America, and developers are planning and building new five- and six-story walk-ups in some cities. When a developer in Philadelphia or Denver comes across a piece of land zoned for a few stories, elevator expenses are often one reason they build townhouses rather than condos — fewer in number and with higher price tags." https://lnkd.in/gsDqDcfy

Modular housing development — building homes in off-site factories — has long been a fringe part of the U.S. market. Now, America's biggest apartment owner is trying to change that. Greystar is opening a six-building modular apartment complex, its first U.S. project assembled using this alternative construction method. “We’ve seen modular as a choice. I think we’re past beyond that,” McKinsey senior partner Jose Luis Blanco tells me. “It’s just a pure necessity.” I'm back on the housing beat at WSJ. Read my first story here: https://lnkd.in/ez3jrjnA

Interesting to see one of the largest apartment owner's take a step toward into modular complexes. The rise of modular building and VDC in the AEC industry will be a key opportunity for firms to consider.

Excited to see this project move forward. "City planning staff are recommending approval of a plan to build a 12-storey, 127-unit residential building on James Street North at Barton Street, on the site where the Mission Services men’s shelter once stood. A report that includes the staff recommendation goes to a vote at the city’s planning committee meeting Aug. 13 at city hall." Link to full The Hamilton Spectator article in the comments, but wanted to share some thoughts. This project will signal a big change for the area. 12 storeys is tall for this street, where most of the buildings are 2 or 3 stories. But these buildings were built 100 or more years ago, when our city and country were very different. Given that there is a GO Transit Station ~1.5 blocks from the site, it totally makes sense to increase the density and I think that Core Urban (who are a Hamilton developer) has done a good job. And, to be clear, I am writing this as a local resident, someone who will have a direct view of this project from my home. It will for sure have some impact on our lives during construction and it will be something to get used to going forward. But, I am excited about this project because it is going to be delivering 127 much needed rental homes in our community, as well as more commercial space, and what should be really nice office space in the adaptively reused 1910 brick heritage building that has been retained. So, ya, change can be hard, but in this case I hope that our community embraces it. #Housing #Infill #Redevelopment #Homes #Construction #Change #Residential #HamOnt #RandomMusings

Modular done at scale offers an opportunity to really benefit from the efficiencies of offsite manufacturing by ‘keeping the plant running’. Good article and great to see the continued adoption of modular approaches.

America’s Biggest Apartment Owner Takes a Leap Into Modular Homes: "Ltd. Findlay is the first property developed at Greystar’s modular factory in Knox, Pa ...Ltd. Findlay was built roughly 40% faster than Greystar’s traditional projects, Mest said. The on-site construction required one-third of the company’s standard workforce and generated 90% less waste." https://lnkd.in/ed5FRdyh