Brooklyn Navy Yards is doing it. Marriott is doing it. Hilltop House is doing it.
And what exactly are they doing? Multifamily Modular Construction.
The 2017 trend for construction is ‘trim the fat’. While that’s always a focus for developers, as lenders get tighter and partnerships are starting to sweat the small stuff when it comes to return on investment and competition, developers and construction timeliness are finding out that modular construction is the new hot trend: shorter timelines, faster to market, higher returns, and an overall better investment.
Multifamily modular construction like rental apartments, mixed-use lifestyle centers, and upzoning municipalities are stronger than ever. (Feeling the strain from your lender? RAM, the financial arm of Aries Residence Suites and Aries Building Systems can finance your next multifamily development) As developers realize the wider margins available on using prefabricated modular construction, the myth and the rumors about modular being box-like, ugly, and plain have long been overturned.
Not only is multifamily hot in commercial development, but as unemployment drops and single family housing becomes less affordable in desirable and growing cities, luxury apartments are starting to appeal to buyers who gave up the search for buying. As things like temporary, sustainability, and economic factoring come into play, cities are scrambling to provide housing faster and cheaper. Boston held a design competition where the winner used modular building design. A common construction pain point is the lack of labor, which modular construction can help reduce labor costs but still maintain high quality results.
With a prediction of all sectors of construction increasing in 2017, you can expect to see more companies turn to modular building, especially in the housing industry, whether it is apartments, townhomes, or even temporary housing for workers who are aiding in the growth of specific economic areas. In fact, buy a whole ‘camp’ from Aries Building Systems!
Not only is multifamily modular construction hot in commercial development, but as unemployment drops and single family housing becomes less affordable in desirable and growing cities, luxury apartments are starting to appeal to buyers who gave up the search for buying. As things like temporary, sustainability, and economic factoring come into play, cities are scrambling to provide housing faster and cheaper. Boston held a design competition where the winner used modular building design. A common construction pain point is the lack of labor, which modular construction can help reduce labor costs but still maintain high quality results.
With a prediction of all sectors of construction increasing in 2017, you can expect to see more companies turn to modular building, especially in the housing industry, whether it is apartments, townhomes, or even temporary housing for workers who are aiding in the growth of specific economic areas. In fact, lease a whole ‘camp’ from Aries Building Systems!
