Fifth Wall’s Post

Modular housing is a game-changer for the U.S. market, and it’s exciting to see industry leaders like Greystar embracing this innovative approach. Not only does it address delays common in traditional construction, but it also offers a more efficient way to manage resources, reducing waste and time. Additionally, modular construction is often more cost-effective, making high-quality housing more accessible. I am forecasting that this type of housing will expand globally in the near future—you’ll soon hear of homes being imported from the U.S. or other regions. However, this rapid expansion will present significant challenges for government housing approvals and standards, as existing regulations may need to evolve to accommodate this innovative and scalable construction method. #modularhousing #housinginnovation

The nation's largest apartment operator is betting on modular housing. Greystar Real Estate Partners has debuted a 312-unit modular apartment complex near Pittsburgh — the first of a half-dozen planned developments. Modular homes are put together in a factory and stacked on top of each other on-site, making them faster and more cost-effective than traditional builds. Proponents say modular housing could be a neat solution to America's dwindling construction workforce and rising costs. Though some obstacles remain, the annual market share of modular construction more than tripled between 2015 and 2023, per one trade group.

America's largest apartment owner venturing into modular homes highlights a significant shift in the housing industry. Modular construction offers a solution to rising costs and demand for faster, more efficient builds. After years of discussion and numerous failed attempts, advancements in technology and manufacturing may finally make modular housing economically viable. #RealEstate #Construction #HousingInnovation

🏘️ Modular homes: the future of construction? Greystar Real Estate Partners, one of America’s largest apartment owners, is diving headfirst into modular construction, and it’s a move that could shake up the industry. 🚀 This shift promises faster project timelines and potential cost savings—all while addressing the ever-growing demand for affordable housing. As someone who’s passionate about innovation in construction and building practices, this story highlights how modular construction could redefine scalability and efficiency. It's exciting to see such a significant player embrace this approach, and it leaves me wondering: Could this be the tipping point for modular to go mainstream? Check out the article from The Wall Street Journal. https://lnkd.in/e4_UV5Xh #Construction #Innovation #ModularHousing #FutureOfBuilding

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.

The nation's largest apartment operator is betting on modular housing. On Monday, Greystar Real Estate Partners debuted a 312-unit modular apartment complex near Pittsburgh — the first of a half-dozen planned developments. Modular homes are put together in a factory and stacked on top of each other on-site, making them faster and more cost-effective than traditional builds. Proponents say modular housing could be a neat solution to America's dwindling construction workforce and rising costs. Though some obstacles remain, the annual market share of modular construction more than tripled between 2015 and 2023, per one trade group.

Modular construction seem well suited to recent innovations in on-site construction robotics, since there are fewer pieces and standardized construction processes. Construction is ripe for innovation between the labor challenges and the need for efficiency and cost-reductions on the production end if material costs are going to stay high. See The Freedonia Group construction report catalog for more analysis. See the link in the comments to download our white paper "Addressing Labor Challenges and Driving Growth in the Construction Industry"

Modular #housing development has long been a fringe part of the U.S. market. Now, the country’s largest apartment operator is trying to change that. Greystar is opening a six-building modular apartment complex outside of Pittsburgh, complete with a gym, amphitheater and bocce courts. It is Greystar’s first U.S. project assembled using this alternative #construction method, aiming to combat the chronic delays of traditional developments. Unlike conventional on-site construction, modular homes are assembled in a factory, transported to the final building site and then stacked on top of each other like jumbo Lego blocks. Proponents say this type of building can be completed faster using fewer workers and with materials that can be purchased at a bulk discount, which can reduce overall costs. Modular remains only a small portion of the overall construction market, reflecting a number of challenges from the cost of transporting pieces to difficulties with financing and regulatory approval. But its use is steadily growing. With the cost of materials and labor rising, “modular emerges as a more viable alternative to traditional construction methods,” said Jose Luis Blanco Alvarez, a senior partner at McKinsey & Company who leads the global #engineering, construction and building-materials practice. 🔗 Read more from Rebecca Picciotto: https://lnkd.in/eFNXhF_i