Real estate company Greystar has inaugurated its new manufacturing facility in western Pennsylvania, US.
The opening was marked by a ribbon-cutting ceremony at the site. The flagship facility will be used to produce modular apartments for its Modern Living Solutions (MLS) construction business.
Go deeper with GlobalData
MLS focuses on attainable and sustainable housing while managing the design and assembly of modular residences at the manufacturing facility, optimising the whole process.
The business will address the housing shortage by providing design-conscious and affordable modular apartments, as well as bringing together development, construction, and modular manufacturing into a vertically integrated unit.
The modules will be manufactured in a factory-controlled environment.
According to Greystar, modular construction projects can be completed up to 50% faster compared with traditional construction.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataMLS will incorporate sustainable designs, efficient material use, and quick construction, which will leave less carbon footprint than traditionally built projects.
It can achieve an 80% reduction in waste when compared to traditional methods of building.
Greystar founder, chairman and CEO Bob Faith said: “Greystar recognises the significant undersupply of housing options across the US today and we believe what we’re doing with MLS will begin to address this challenge.”
“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.”
Currently, hiring process is being conducted to fill 170 full-time positions to carry out operations at its first modular factory.
