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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