With a focus on attainable and sustainable housing, Greystar Real Estate Partners has opened a flagship manufacturing facility for its modular construction business, Modern Living Solutions (MLS), in Knox, Pennsylvania.
While in the process of hiring 170 full-time employees, MLS plans to deliver design-conscious and cost-effective modular apartments while combining development, construction, and modular manufacturing into a vertically integrated business. As a wholly owned subsidiary of Greystar, MLS is able to utilize the company’s size and scale to make a positive impact on increasing the housing supply. The MLS corporate office is located in Baltimore.
"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," says Bob Faith, founder, chairman, and CEO of Greystar. "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."
Manufacturing the modules in a factory-controlled environment means that projects can be delivered up to 50% faster than traditional construction with less external risk presented by factors including weather, labor shortages, or on-site safety concerns, MLS reports. The units will have a smaller carbon footprint than traditionally built projects because of the speed of construction, efficient use of materials, and sustainable designs.
"We are excited to be joining the Knox community and are proud to bring a positive impact to the economy of northwest Pennsylvania. We're looking forward to building our network of talented team members who I know will play important roles in the work we do at Modern Living Solutions," says Andy Mest, managing director of MLS.
The facility will initially serve the Mid-Atlantic region, particularly 30 to 45 minutes outside major metropolitan areas like Pittsburgh and Baltimore, where the essential worker lives and the housing supply is low.