Greystar Real Estate Partners, LLC is celebrating the opening of its flagship manufacturing facility to focus on modular construction. A ribbon-cutting ceremony took place earlier this month in western Pennsylvania, home to Modern Living Solutions (MLS).
The MLS subsidiary plans to deliver modular apartments to help fight the undersupply of housing.
“Greystar recognizes the significant undersupply of housing options across the U.S. today and we believe what we're doing with MLS will begin to address this challenge,” said Bob Faith, Founder, Chairman and CEO of Greystar, in a release. “We are harnessing the innovative power of the private sector to deliver a rental product that is less expensive, more attainable, and sustainably produced to meet a need we are seeing in the market.”
This development allows for faster construction—50% faster than traditional construction—with fewer outside risks such as weather and labor shortfalls. MLS will start in the Mid-Atlantic region near Pittsburgh and Baltimore.
The design is also environmentally friendly. “With sustainable designs, efficient usage of materials, and speed of construction, MLS units will have a smaller carbon footprint than traditionally built projects,” according to the release. “Through a one-of-a-kind process, roughly 80 percent less waste will be produced compared to traditional builds.”