Michael Skarzynski’s Post

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.

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

🏘️ 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.

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

It’s great to see the growth of modular construction and the success stories proving it’s not just a trend but a transformative method to reduce waste, cut costs, and address labor shortages—all while delivering high-quality homes faster. This momentum underscores the industry’s pivotal role in shaping the future of housing. Read more in the Wall Street Journal about one of the largest multifamily modular projects in the U.S., by Greystar: https://lnkd.in/gQjRGcGC

📊 Orlando's Construction Pipeline 2Q24 📊 Orlando's real estate market is booming with a remarkable 11.9% of the existing inventory currently under construction! According to the latest report from MMG, over 14,000 multifamily units are either under construction or in lease-up, showcasing a robust growth trend. 🏗️ Key Insights: High Demand: The market is bustling with new projects, indicating strong demand and growth potential. Future Prospects: An additional 13,000+ units are in the prospective stage, showcasing continuous expansion. Strategic Locations: Key areas like Downtown Orlando and Lake Bryan are seeing substantial construction efforts, promising vibrant community developments. With this surge in inventory, do you think this will lead to more softening in rents, or will the demand show up to match the supply? Share your thoughts! For detailed insights and more data, check out the full report in the comments.

🏗️ Three key takeaways on Greystar's modular strategy from the Fifth Wall experts and Andrew Staniforth, CEO of portfolio company Assembly OSM: Fifth Wall Partner Greg Smithies: "In this new political and regulatory environment, we expect the cost of construction in general to increase. This new normal may be the realignment in costs that has long been required to shift the economic balance toward prefab and modular construction." Fifth Wall VP Francesca Whitehead: "Looking at Brexit as a comparison, the number of construction workers since Brexit has dropped by 40 percent. Considering the labor dynamics at play along with the expected immigration policies in the U.S., the industry will be pushed to try new construction methods like modular or prefab. Assembly OSM CEO Andrew Staniforth: "Here’s what’s really interesting. Greystar didn’t just use modular; they built their own modular factory. It’s the perfect example of how new technology needs to align with its customers. Now I'm not saying every developer should open their own facility... but in the early innings of industry adoption, it makes complete sense." #realestate #construction