Greystar Real Estate Partners. The 2nd Largest Apartment Builder in the US is Now Leading the Way into Modular Construction.

Homes and apartments are now being built faster, cheaper, and with less waste without compromising on quality. This isn’t some far-off idea. It’s happening now. And Greystar Real Estate Partners, one of the biggest names in real estate, is leading the way.

Greystar, the largest apartment operator in the U.S. Is now changing the game by switching to modular construction. With their new project Ltd. Findlay near Pittsburgh, Pennsylvania. They’re showing how modular construction is the future of building. Let’s dive into what this means for the real estate world and why modular construction is the new way to build.

Greystar’s Bold Move into Modular.

Greystar isn’t just any company. Headquartered in Charleston, South Carolina, they manage over 954,000 apartments across North America. That’s huge. After seeing great success with modular construction in the U.K. They decided to bring that same innovation to the U.S.

In 2020. Greystar made a big investment. They bought a factory in Knox, Pennsylvania and started their modular division for Modern Living Solutions. Their goal? To build better, affordable, faster, and more efficient than ever before.

How Modular Construction Works?

You might be thinking. How does modular construction work? Think of it like building with Lego bricks, but on a much bigger scale. Instead of building everything on the construction site.

Modular homes and apartments are built in a controlled factory environment. These “modules” are then transported to the construction site and put together like a puzzle in a fast and efficient way.

For Ltd. Findlay, a 312-unit apartment complex. Greystar built the modules in their factory. Which was just 90 miles away. Then, they shipped them to the site and assembled them easily and quickly. The result?

40% faster construction, 90% less waste, and 10% lower costs compared to other constructional methods. And the best part? The quality is still top-notch. Residents of Ltd. Findlay will enjoy many upscale amenities like a gym, pool, amphitheater, and even bocce courts.

Why Modular Construction is Taking Off Now?

For years, people thought modular construction was just for low-cost or temporary housing. But now times have changed. Rising labor and material costs have made developers look for smarter construction solutions.

And Modular construction delivers the exact solution that developers were looking for because it standardizes production in factories and ensures high quality and consistency.

Which reduces onsite labor costs and makes projects faster and less dependent on skilled workers. Allows bulk purchasing and saving money on materials at the same time.

In 2015, modular homes made up only 2% of the U.S. housing market. Now, they’re at 6.6%, and growing fast everyday. Experts predict modular construction could generate $1.1 trillion in revenue by 2040. And that’s a big deal for modular construction in the real estate market.

Overcoming the Challenges in Modular Construction.

Of course, modular construction isn’t without its few challenges like:

Financing: Many lenders don’t understand modular construction yet.

Regulations: Building codes vary from place to place. Which can complicate things.

Transportation Costs: Moving large modules over long distances can get pricey.

But companies like Greystar are finding smart ways to tackle these issues. For example, they build projects within 600 miles of their factory to save on transportation costs.

They’re also working hard to educate lenders about the benefits of modular construction. And now modular construction is getting popular in the real estate industry.

What This Means for the Future?

Greystar’s shift to modular isn’t just about one apartment complex. It’s about leading a revolution in how we build. With labor shortages and rising traditional construction costs, the industry needs a solution and modular construction delivers the exact solution.

Big players like Greystar are proving that modular construction isn’t just efficient and cost-effective. It’s also sustainable and scalable. As more developers see the benefits of modular construction then modular construction will become the norm, not the exception.

Why Modular Construction is the New Best Way to Build?

If you’re a developer, builder, or investor. Now is the time to consider modular construction instead of traditional. And here’s why:

30-50% Faster Timelines: Build projects in weeks or months, not years.

20-30% Lower Costs: Save money on materials and labor.

90% Less Waste: Help the environment by reducing construction waste.

High Quality: Factory-built modules ensure precision, durability and consistency.

Sustainability: Modular construction uses fewer resources and supports green building practices.

Greystar’s commitment to modular construction isn’t just about building apartments. It’s about setting the stage for a new era in real estate development with a modular construction.

The Time to Act is Now.

Modular construction is changing the way we build. With leaders like Greystar paving the way. Now it’s clear that modular construction is the future.

So, what about you? Are you ready to embrace the efficiency, cost savings, and sustainability of modular construction? Whether you’re building your dream home or a large apartment complex. Modular construction is the smart choice. Click below if you want to learn more.