Multifamily Modular Construction is Gaining Ground

2019-08-30T17:47:05+00:00

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!

Interested in buying or leasing multifamily modular buildings from Aries? Check out our selection here.

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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!

Pre-Fabulous Possibilities

marshall2019-02-18T15:14:13+00:00

alt=”Street View of a modular building used it for bicycle leasing business”

This isn’t your uncle’s mobile home anymore. Designers are re-examining the idea of prefabrication because in retail and restaurant industries, “time is money.” The faster buildings go up, the quicker a business can start producing revenue. Aries Building Systems has pre-used inventory that have pre-fabulous possibilities.

For seasonal businesses that run short on housing and need the extra space, prefabricated modular buildings can be retrofitted to be the extra residences that an employer needs. In places where tourism runs high in the summer months and low in the winter, this is a great option. Modular units can be placed temporarily until designs are approved, or they can be placed permanently.

Places in Colorado where seasonal and affordable housing is scarce, places like Ute are using modular housing for temporary workers.

Many businesses avoid modular because they are afraid the construction will be boxy and not match the exterior brand. With the help of the Aries design team, customization of a pre-used ‘pre-fabulous’ modular unit can help transform your ‘box’ into an aesthetically beautiful home that will be the envy of other businesses.

If you’re in the business of ‘fast food’ or ‘fast fashion’, then purchasing used modular inventory and customizing the building into what you need might be a better option than building from the ground up or leasing commercial space. When you lease commercial space, you are still responsible for common areas, repairs, maintenance, property taxes, and often have to sign a multi-year lease. The other problem that many ‘fast fashion’ retail or ‘fast food’ establishments run into is location and ‘retail death’.

Construction to deconstruction; with fast fashion becoming the new norm, retailers need to launch fast, test their products, and have a getaway plan for when their fashion is no longer needed. Modular is the hot possibility that is coming across retail: a fold-away store that can go up fast and be broken down just as quick while being able to reuse materials to save cost.

The idea is becoming so popular and common place, there are retail developers that help businesses specialize in this type of installation. Imagine customizing using YOUR colors, YOUR brand, your interior and exterior choices, and the entire building is already code compliant.

Many say modular and immediately think of flat-pack prefab units from the 1960’s to the 1980’s. Quite the opposite, Florida Power and Light Co. has used Category 5 modular buildings and is putting in seven more. When hurricanes hit, customers experience massive power outages and in Florida, FPL has invested a lot of money to be the strongest power grid in America: this means having a ‘high tech hub’ where contractors can ride out a storm and house a safer control center that will allow the lights to come back on faster after a storm.

Sustainability is the new buzzword, especially when it comes to helping the homeless. Modular has many purposes and features, but pre-fabricated construction has one great benefit: modular buildings can be built ANYWHERE in a short amount of time.

While modular construction IS faster, refurbished and preowned modular is almost 50%-70% faster and as a business, you get more quality space for your money. Large name brand stores are considering more customized modular as shoppers do more online and companies need less square footage space.

Many entrepreneurs are avoiding expensive start-up costs and moving into alternative methods of starting a business, often avoiding large bank loans.

Whatever your reason, Aries has pre-owned inventory that can perform to your wildest dreams. Whatever you imagine, let Aries and their design team help transform their pre-owned modular buildings into your next business adventure! Check out Aries’ Choosing Modular brochure for more ideas, or visit Aries company Advanced Modular Space and view the prefabricated inventory to see how Aries can fill your business needs!

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