Last year, Greystar Real Estate Partners, the country’s largest apartment owner, built its first U.S. modular housing development in Coraopolis, Pennsylvania, according to Realtor.com.
Based in Charleston, South Carolina, Greystar manages more than 954,000 units in North America. The company’s first successful modular development was built in the United Kingdom before it purchased its Pennsylvania manufacturing facility in Knox in 2020. From there, Greystar established its U.S. modular operation, Modern Living Solutions.
The new modular housing development, located about 16 miles west of Pittsburgh, is called Ltd. Findlay. One of the largest multifamily modular projects in the country, the complex includes 312 apartments in six buildings, as well as a gym, amphitheater and bocce courts. Apartments range from 662 square feet to 1,373 square feet.
Greystar has six more modular projects planned for the U.S., all of which will be built at the Knox site and located within a 600-mile radius of the manufacturing facility.
As opposed to on-site construction, modular homes are built in a factory, transported to the building site and then stacked on top of each other. This construction method aims to use fewer workers, use bulk discounted materials and complete construction faster, reducing costs overall.
Ltd. Findlay was built about 40% faster than Greystar’s traditional projects, and the project’s on-site construction used one-third of the company’s standard workforce. It also generated 90% less waste.
Still, modular construction remains only a small portion of the overall construction market. Although it has shown itself to be beneficial in various aspects, it poses its own additional challenges, especially when it comes to financing.
As construction methods continue to evolve, Greystar’s manufacturing facility in Knox may position Pennsylvania at the forefront of getting modular construction off the ground and helping to lead the U.S. to more efficient homebuilding.
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