Greystar Real Estate Partners has opened its first modular housing development today at Coraopolis, Pennsylvania, roughly 16 miles west of Pittsburgh.
The Wall Street Journal reported the six-building apartment complex called Ltd. Findlay consists of 312 apartments, making it among the largest multifamily modular projects in the country. The property was developed at Greystar’s modular factory in Knox, Pennsylvania, and the developer has six additional modular housing projects in the works.
According to the company, Ltd. Findlay was built at a roughly 40% faster speed than Greystar’s traditional projects, with the on-site construction requiring only one-third of the company’s standard workforce while generating 90% less waste. Ltd. Findlay was also about 10% cheaper for Greystar to build compared to a traditional multifamily project in nearby Pittsburgh.
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great idea. And if it costs less then we should be able to build more affordable housing
I’ve had two modular homes built. Both were around 3200 sq. ft., 2 story homes with garages. I had them bricked and they looked like a site built home with the exception of rafters and electrical/plumbing connections. The large drawbacks were that the factories made large mistakes and were 3-4 months behind in production. The first house was sitting on the manufacturers lot waiting to be delivered and wasn’t properly covered. Storm dumped 3″ of rain and wind which flooded all 4 components of the house. Second home was not set correctly on foundation by crane and none of the connections lined up. Crane came back out and still didn’t get it correct, so I hired my own operator to get it straight. Those homes came in 4 modules each. Two on the first floor and two for the second floor. They’ve since closed the plant that I used after 5 years of mistakes. I love the concept, but you need to have a competent manufacturer/installer.